Scope of the Report
The report entitled “Global Industrial IoT Market: Size, Trends & Forecasts (2017-2021)”, provides analysis of the global Industrial IoT market, with detailed analysis of market size and growth, and segmentation of the industry. The analysis includes the market by value, by segments and by region. The report also provides the analysis of the global Industrial IoT market of the EMEA, Germany and China regions.
Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global Industrial IoT market has also been forecasted for the years 2017-2021, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
General Electric, Intel Corporation, Cisco Systems, Inc. and Honeywell International, Inc. are some of the key players operating in the global Industrial IoT market, whose company profiling has been done in the report. In this segment of the report, business overview, financial overview and business strategies of the companies are provided.
- General Electric
- Intel Corporation
- Cisco Systems
- Honeywell International, Inc.
The Internet of Things is defined as the system of connected objects over an internet which is ready to gather and trade information utilizing embedded sensors. The Internet of Things (IoT) can broadly be classified on the basis of type of customer into two categories such as, Consumer Internet of Things (CIoT) and Industrial Internet of Things (IIoT).
The devices which services are focused on toward individual users or families are termed as Consumer IoT devices. The IoT is an interconnected system of intelligent computers, devices, and objects that are responsible for collecting and sharing huge amounts of data.
The application of IoT used in manufacturing industry is called the IIoT (or Industrial Internet or Industry 4.0). The various applications of industrial IoT are Manufacturing, Energy & Utilities, Automotive & Transportation and Healthcare.
The global Industrial IoT market is expected to increase at high growth rates during the forecasted period (2017-2021). The global Industrial IoT market is supported by various growth drivers surging demand of cobot, booming economic growth, rise of LPWA network technology, rising IOT platform, application and security spending, etc. and some challenges that hinder the market growth are complexity in implementation, lack of skills, safety and privacy of data concerns, intricacy in data management. The trends that boost the industrial IoT market in future are 5G New Radio (NR) technology, smart dust, virtual simulation of products, etc.