“Smart connected assets and operations market is expected to grow at a high rate during the forecast period”
The smart connected assets and operations market was valued at USD 103.82 billion in 2015 and is expected to reach USD 215.53 billion by 2022, at a CAGR of 10.26% during the forecast period. The market growth can be attributed to the increasing demand for reduction in cost and energy, and enhanced operational performance. As a result of the setting up large data center, the smart connected assets and operations system have a greater opportunity.
“Automotive & transportation industry is expected to grow at a high rate”
The market for Automotive & Transportation industry is expected to grow at the highest CAGR between 2016 and 2022. The IIoT platform in transportation application provides a range of infotainment, traffic, navigation, vehicle maintenance, security, and safety features. IIoT in transportation forms an entirely novel mobile platform by bringing together component suppliers, auto manufacturers, telecom vendors, and content providers.
“The market in APAC is expected to grow at the highest rate during the forecast period.”
As China and Japan are the largest market for semiconductor devices hence there is high opportunity for the smart connected assets and operations market to grow. Additionally, the government initiatives such as Make in India and Digital India help the overall market to grow.The manufacturing industry is rapidly transforming as technology, competition, and the evolving demands of global consumers dictate the need for continuously improving efficiencies and flexibility. The Internet of Things (IoT) overtake human communications rapidly, they can communicate much faster, much more frequently, than humans. IIoT represents a very important segment, which includes manufacturing, automation, and virtually any process or operation that does not directly involve direct consumer interaction.
Below is the breakdown of primary participants profile by different parameters considered:
- By Company Type: Tier 1 - 14%, Tier 2 - 29%, and Tier 3 - 57%
- By Designation: C-Level Executives - 28%, Directors - 29%, and Others - 43%
- By Region: North America - 29%, Europe - 57%, and APAC - 14%
The key players operating in this market include Intel Corporation (U.S.), Cisco System Inc. (U.S), IBM Corporation (U.S.), ARM holding plc (U.K.), General Electric Company (U.S.), Texas Instruments (U.S.), Cypress Semiconductor (U.S.), Rockwell Automation (U.S.), NXP Semiconductor (Netherlands), and STMicroelectronics N.V. (Switzerland).
In this report, various segments such as module, industry, and geography have been covered. It also discusses about the drivers, restraints, opportunities, and challenges pertaining to the market. The report gives a detailed view of the market across four main regions: the Americas, Europe, APAC, and RoW (comprising the Middle East and Africa). The Porter’s five forces analysis has been included in the report, along with the description of each of its forces and their impact on the said market.
“Reasons to buy the report”:
- This report includes statistics pertaining to the smart connected assets and operations market, by module, industry, and geography, along with their respective market size (in terms of value and volume for the hardware market).
- The Porter’s five forces analysis, value chain analysis, and key strategies adopted by the market players have been provided for the smart connected assets and operations market.
- Major drivers, restraints, opportunities and, challenges for the smart connected assets and operations market have been provided in detail in this report.
- The report includes illustrative segmentation, analysis, and forecast for the smart connected assets and operations market based on its segments and sub segments.