Global Industrial Internet of Things (IIoT) Market was valued at USD 60.22 billion in2018 which is expected to reach the USD 107.22 billion by 2027 at a CAGR 6.5%.
Industrial internet of things (IIoT) is the type of internet of things which consists of the interconnected devices like sensors, instruments, which in further incorporates with the computer networks to serve the applications.
Increase in technological advancements in semiconductor and electronic devices are the key driving factor which is expected to boost the global industrial internet of things (IIoT) market growth. Furthermore, increase in use of cloud computing platforms will have the positive impact on market growth. Moreover, support from governments of different countries for research and development activities will drive the market growth.
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However, lack of skilled workforce as well as incapability of legacy equipment communication network are the challenging factors which are expected to hamper the global industrial internet of things (IIoT) market growth. Also, lack of standardization of in communication protocols will affect the market growth.
Market Key Players
Various key players are discussed in this report such as Cisco Systems, GE, Honeywell International, Intel, IBM, ABB Ltd., Rockwell Automation, Siemens AG, and Texas Instruments
- Distribution Management System
- Farm Management System
- Remote Patient Monitoring System
- Retail Management System
- Condition Monitoring
- Industrial Robotics
- Smart Meter
- Transport & Logistics
- Oil & Gas
- Energy & Power
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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