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Global Industrial IoT (IIoT) Market, 2020-2027 – Focus on Aerospace, Automotive, Energy, Healthcare, Manufacturing, Retail Industries

Dublin, March 05, 2021 (GLOBE NEWSWIRE) — The “Industrial IoT (IIoT) Market by Component, Application (Robotics, Maintenance, Monitoring, Resource Optimization, Supply Chain, Management), Industry (Aerospace, Automotive, Energy, Healthcare, Manufacturing, Retail), and Geography – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering. Global industrial IoT (IIoT) market is expected to reach $263.4 billion by 2027, growing at a CAGR of 16.7% during the forecast period of 2019 to 2027. This market is majorly driven by the factors such as extensive government support in encouraging digitalization across the industrial sector, rise in adoption of industrial IoT devices, and growing incorporation of cloud computing platforms. In addition, the use of industrial IoT for predictive maintenance and rising number of data centers provides significant opportunities for the industrial IoT providers.Based on component, the IIoT solutions segment is estimated to emerge as the largest shareholder during the forecast period in the overall industrial IoT market in 2020. The large share of this segment is mainly attributed to the increasing adoption of IoT enabled industrial automation and control systems. The growing need for real-time communication, following compliance with cybersecurity standards, and engaging IoT devices to the cloud-based platforms for performing operational analysis among the organizations is driving the growth of the segment. Further, this segment is also attributed to register fast growth during the forecast period owing to the growing investments and demands for customized IIoT solutions by the industries.Based on application, the smart robotics segment is expected to witness rapid growth during the forecast period. The fast growth of this segment is attributed to the rapid proliferation of industrial automation under the fourth industrial revolution ‘Industry 4.0’. Besides, lack of skilled and reduction in the number of employees due to pandemic COVID-19 forced industries and organization to change their existing strategy and reduce dependency. As a result, the significant investment for smart robotics and associated IoT is on the rise, which is expected to drive the smart robotics application with the fastest growth rate over the coming year.Based on industry vertical, the manufacturing segment is estimated to account for the largest share of the overall industrial IoT market in 2020. However, the healthcare segment is expected to grow with fastest CAGR during forecast period. Increasing demand for value-based healthcare facilities and adoption of newer technologies across the healthcare industry is driving the market for industrial IoT in healthcare. In addition, the proliferation of smart devices for health monitoring and fitness-related issues is giving rise to increase in adoption of IoT technology in the industry.Geographically, Asia Pacific region is estimated command the largest share of the overall industrial IoT market in 2020. Moreover, Asia-Pacific is also expected to witness rapid growth during the forecast period, driven by the factors such as increasing adoption of automation and advanced technologies across a wide range of industries in China and Japan to counter the rising labor costs; favorable government initiatives across the region; and investments by major IIOT companies.Key questions answered in the report: Which are the high growth market segments in terms of the components, applications, industry vertical, and countries?What is the historical market for industrial IoT across the globe?What are the market forecasts and estimates from the period of 2019-2027?What are the major drivers, restraints, and opportunities in the global industrial IIoT market?Who are the major players in various countries and what share of the market do they hold?What are the recent developments in the global industrial IoT market?What are the different strategies adopted by the major players in the global industrial IoT market?What are the geographical trends and high growth countries?Who are the local emerging players in the global industrial IoT market and how do they compete with the other players? Key Topics Covered: 1. Introduction2. Research Methodology2.1. Research Approach2.2. Data Collection & Validation2.3. Market Assessment2.4. Assumptions for the Study3. Executive Summary3.1. Overview3.2. Market Analysis, by Component3.3. Market Analysis, by Application3.4. Market Analysis, by Industry Vertical3.5. Market Analysis, by Geography3.6. Competitive Analysis4. Market Insights4.1. Introduction4.2. Drivers4.2.1. Extensive Government Support for Industry Automation4.2.2. Increasing Adoption of Cloud Computing Technology4.2.3. Rising Adoption of the Industrial IoT4.3. Restraints4.3.1. Lack of Standardization4.3.2. High Investments4.4. Opportunities4.4.1. Industrial IoT for Predictive Maintenance4.4.2. Increase in The Number of Data Centers4.5. Challenges4.5.1. Vulnerability Issues with IoT Devices4.5.2. Lack of Skilled Workforce4.6. Trends4.6.1. The Emergence of Edge Computing4.7. Impact of The Covid-19 Pandemic on the Industrial IoT Market5. Industrial IoT Market, by Component5.1. Introduction5.2. Solutions5.2.1. Industrial Automation & Control Systems5.2.2. Product Lifecycle Management (PLM)5.2.3. Network Components5.2.4. Sensors & Actuators5.2.5. Data Management & Analytics5.2.6. Others5.3. Services5.3.1. Professional Services5.3.2. Managed Services5.4. Connectivity5.4.1. Wireless Technologies5.4.2. Wired Technologies6. Industrial IoT Market, by Application6.1. Introduction6.2. Predictive Maintenance6.3. Remote Monitoring6.4. Production Flow Management6.5. Logistics & Supply Chain Optimization6.6. Asset & Resource Optimization/Management6.7. Plant Maintenance6.8. Inventory Management6.9. Smart Robotics7. Industrial IoT Market, by Industry Vertical7.1. Introduction7.2. Manufacturing7.3. Healthcare7.4. Transportation7.5. Energy & Utilities7.6. Oil & Gas7.7. Automotive7.8. Aerospace & Defense7.9. Retail7.10. Agriculture7.11. Others8. Industrial IoT Market, by Geography9. Competitive Landscape9.1. Introduction9.2. Key Growth Strategies9.3. Competitive Benchmarking9.4. Market Share Analysis10. Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)10.1. General Electric Company (GE Digital)10.2. IBM Corporation10.3. PTC, Inc.10.4. Microsoft Corporation10.5. Cisco Systems, Inc.10.6. Robert Bosch GmbH10.7. Dassault Systemes10.8. ABB Ltd.10.9. Huawei Technologies Co., Ltd.10.10. Kuka AG10.11. Rockwell Automation, Inc.10.12. Schneider Electric SE10.13. Siemens AG (Siemens Digital Industries Software)10.14. Intel Corporation For more information about this report visit https://www.researchandmarkets.com/r/txcnlf CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900