Global Industrial IoT Platform Market By Offering (Platforms and Services), Application Area (Asset Management, Supply Chain and Management, Business Process Optimization, Workforce Management, Automation Control and Emergency and Incident Management), Industry Vertical (Process Industry, Energy and Utilities, Chemical and Materials, Food and Beverages, Discrete Industry, Automotive, Machine Manufacturing, Semiconductor and Electronics, Medical Devices, Logistics and Transportation and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Data Bridge Market Research analyses that the industrial IoT platform market will exhibit a CAGR of 22.40% for the forecast period of 2021-2028. Increased expenditure for research and development activities on connected technological solutions, rising demand and need for centralized monitoring and predictive maintenance of assets and increased adoption of advanced technological solutions such as artificial intelligence and machine learning by the various end user verticals are the major factors attributable to the growth of industrial IoT platform market. This means that the industrial IoT platform market value would stand tall by USD million by the year 2028.
The aim of incorporation of internet of things technology with the industrial platforms is to reduce complexities in the industrial operations and improve the effectiveness and performance of tasks undertaken using connected technological solutions. Industrial IoT platform also helps in integrating and adapting business models coupled with improving the employee productivity.
Rising adoption of industrial IoT platform by the various end user verticals to improve operational efficiency is a major factor fostering the growth of this market. Rising demand for automated technological solutions coupled with proliferation of IoT devices will further generate lucrative and remunerative market growth opportunities. Supportive governmental regulations are another indirect market growth determinant.
However, high costs associated with the installation of this technology will pose a major challenge to the growth of the market. Issues related to data security and privacy will also derail the market growth rate. Dearth of skilled professionals will also create hindrances.
This industrial IoT platform market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on industrial IoT platform market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Industrial IoT Platform Market Scope and Market Size
The industrial IoT platform market is segmented on the basis of offering, application area and industry vertical. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of offering, the industrial IoT platform market is segmented into platforms and services. Platforms segment is sub-segmented into device management platform, application enablement platform, connectivity management platform. Services segment is sub-segmented into consulting services, system integration and deployment and support and maintenance.
- On the basis of application area, the industrial IoT platform market is segmented into asset management, supply chain and management, business process optimization, workforce management, automation control and emergency and incident management.
- On the basis of industry vertical, the industrial IoT platform market is segmented into process industry, energy and utilities, chemical and materials, food and beverages, discrete industry, automotive, machine manufacturing, semiconductor and electronics, medical devices, logistics and transportation and others. Others segment is sub-segmented into pharmaceutical, mining and metals, and pulp and paper.
Global Industrial IoT Platform Market Country Level Analysis
The industrial IoT platform market is analysed and market size, volume information is provided by country, offering, application area and industry vertical as referenced above.
The countries covered in the industrial IoT platform market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America holds a prominent share in the global IoT in automobile market where USA and Canada will emerge as the major contributors owing to the earliest adoption of connected technology across various verticals, such as healthcare, manufacturing, and. Also, the dominance is a result of prevalence of major key players spread across countries in this region. Asia-Pacific on the other hand is projected to score the highest CAGR for the forecast period owing to adoption of intelligent technologies, particularly in India and China.
The country section of the industrial IoT platform market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Industrial IoT Platform Market Share Analysis
The industrial IoT platform market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to industrial IoT platform market.
The major players covered in the industrial IoT platform market report are Cisco Systems, Inc., Google LLC, AT&T Intellectual Property., Microsoft, Intel Corporation, IBM, Qualcomm Technologies, Inc., Oracle, SAP, Software AG, PTC, Hitachi Vantara LLC, Siemens, Accenture., Atos SE, Amazon Web Services, Inc., Bosch.IO GmbH, Schneider Electric, Davra and EUROTECH among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Industrial IoT Platform Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new crowds with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.