The Industrial IoT (IIoT) market research by Frost & Sullivan analyses the attractiveness, business benefits and various technical and economic mega trends that are shifting the view of manufacturing industry toward adopting IIoT for their operations.
This study also provides a significant view to readers by segmenting the market and profiling companies in terms of various trends significant to IIoT. This enables the reader to understand the market from multiple facets that include technology, services, and end-user segments. This research captures the widespread applications of IIoT across various companies.
Across the globe, manufacturing is on the crossover of a revolution. Advancements in technologies are not only making manufacturing effective, but also enabling the work to be “Smarter”. Technologies, based on the IoT, are growing exponentially and are becoming more efficient and significant in industries such as Manufacturing, Healthcare, Energy, and Retail. The IoT has created a new wave of transformation for manufacturers over the past decade.
According to Frost & Sullivan estimates, by 2020, nearly 12 billion devices in the manufacturing world are expected to be connected via advanced machine-to-machine (M2M) based technology.
F&S has identified some of the key trends significant to IIoT:
- Industrial Mobility
- IoT gateways
- Smart Sensors
- Big Data Analytics
- Virtual and Augmented Reality
- Manufacturing Cloud
- Additive Manufacturing
A number of leading manufacturers such as Bosch, Siemens, and General Electric (GE) are early adopters of smart manufacturing. However, today, a number of niche companies namely Waygum, GainSpan, Splunk, and so on are leveraging the technology and making advancements in the industry vertical. A key to successfully migrate into IIoT is to ensure high productivity and efficiency at reduced costs. Innovative evolutions and digitization have driven new and different applications of IIoT, especially in the manufacturing vertical.
This research analyses the impact of IIoT on the manufacturing vertical, profiling various companies having innovative applications and exploring competencies that market players should be focusing on during the forecast period. The global IIoT footprint is expected to rapidly grow during the forecast period due to emerging adoption of the technology across different industry verticals.
Geographically, this research analyses and forecasts the growth of IIoT in the major regions classified as North America, Europe, Asia-Pacific, and Rest of the world. This study also discusses in detail various solutions provided by each company along with the use cases, competencies, business models, partners and customers for each.
The global demand for IIoT is expected to rise during the forecast period.
