The Global IIoT Platform Market size is expected to reach $14. 8 billion by 2027, rising at a market growth of 13. 2% CAGR during the forecast period. In order to be benefitted from the latest inroads available with Industry 4.
New York, May 20, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global IIoT Platform Market By Offering, By Application, By Industry Vertical, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06073602/?utm_source=GNW
0, makers need to simply access data from their manufacturing processes. Encouraged by the requirement to recognize, optimize, and analyze industrial data, the majority of the makers are willing ( or have deployed) an Industrial Internet of Things (IIoT) platform to make the most use of the potential of AI, Big Data, and Machine Learning discoveries. Makers are constantly aiming for digital transformation as they want to mitigate the limitations today and in the coming years. With access to data restricted, the value and attraction of an Industrial Internet of Things platform are obtaining the focus of many companies.
Data from software, hardware systems, sensors, and other data points are collected by an IIoT platform into a unified environment and various group users have the access to this data. It shortens the gap between people, machines, and systems by aggregating that data into a unified system, generally in a cloud, but at times also on-premises or on edge. With the help of IIoT platforms, the decision-making process can be facilitated in industrial ecosystems by enhancing data analysis, connectivity, forecasting, and control. Generally, makers look for an IIoT platform when they want to get insights into the aspects that impact downtime, quality control, production (output), and waste.
There is a considerable disturbance across various businesses due to the outbreak of the COVID-19 pandemic, and these include industrial, enterprises, and government sectors too. Though, recently, as the lockdown restrictions are becoming lenient in each region around the world, companies in different industry verticals are restarting their operations. During the pandemic, there has been increasing installation of IoT devices across various industry verticals like manufacturing, healthcare, utilities, and transportation & logistics. Thus, the demand for the IIoT platform is growing across these industry verticals.
Based on Offering, the market is segmented into Platform (Without Services) and Services. Platform Type segment is further bifurcated across Device Management Platform, Application Enablement Platform and Connectivity Management Platform. On the basis of offering, the services segment would show the prominent CAGR during the forecast period. System integration & deployment services, consulting services, and support & maintenance services come under the services segment of the global IIoT platform market. Various tier-1 vendors provide specialized services that assist in monitoring the complete ecosystem of a company and at the same time boosting the efficiency and productivity of business processes.
Based on Application, the market is segmented into Asset Management, Business Process Optimization, Email, Supply Chain & Management and Automation Control. Based on the application, the asset management segment would dominate the IIoT platform market during the forecast period. With the high availability of location-based services with GPS, low-cost sensors, affordable connectivity, and gateways, increasing assets are being integrated with tracking devices, actuators, and sensors, hence offering a unified connection to the IIoT platform.
Industry Vertical Outlook
Based on Industry Vertical, the market is segmented into Energy & Utilities, Logistics & Transportation, Machine Manufacturing, Food & Beverages, Semiconductor & Electronics, Chemical & Materials, Automotive and Others. In order to generate goods by using raw materials, the process industry utilizes recipes or formulas. The process industry is considering the processing of many resources into other products. The focus of the industry is to convert raw materials into other products, like chemicals or beverages. The process industry consists of different kinds of verticals like energy & utilities, food & beverage, chemicals & materials, water & waste management, and others (pharmaceutical, mining and metals, and pulp and paper).
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America would garner the maximum revenue share during the forecast period. IIoT platform is in the growing phase in the region, which also involves the US and Canada. These countries remain at the forefront to adopt the latest technologies across several verticals like manufacturing, healthcare, and smart cities. These countries are known for well-established and sustainable economies, which enable them to put massive investment in R&D activities, hence encouraging the growth of the latest technologies aggressively.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Intel Corporation and Microsoft Corporation are the forerunners in the IIoT Platform Market. Companies such as PTC, Inc., Software AG, and Cisco Systems, Inc., SAP SE, IBM Corporation, Siemens AG are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Cisco Systems, Inc., Microsoft Corporation, Software AG, SAP SE, Hitachi, Ltd., Intel Corporation, Siemens AG, Accenture PLC, and PTC, Inc.
Recent strategies deployed in IIoT Platform Market
Partnerships, Collaborations, and Agreements:
Feb-2021: Software AG came into partnership with SAP, the leader in business applications. This partnership aimed to improve surface supply chain management data for enhancing product quality. Under this partnership, the companies will integrate SAP’s S/4HANA Cloud with Software AG’s TrendMiner that is self-service industrial analytics software for smart factories.
Feb-2021: IBM teamed up with Siemens and Red Hat. The collaboration aims to utilize a hybrid cloud developed to provide an open, flexible, and safer solution for plant operators and manufacturers to extract real-time value from operational data. Under this collaboration, Siemens Digital Industries Software would implement IBM’s open hybrid cloud approach, based on Red Hat OpenShift, to expand the deployment flexibility of MindSphere, one of the industrial IoT as a service solution from Siemens.
Jan-2021: Cisco DNA Spaces platform teamed up with Kontakt.io. This collaboration aims to enable Bluetooth Low Energy (BLE) IoT solutions in education, healthcare, workspaces, and more. Under this collaboration, Kontakt.io integrates its cloud and IoT gadgets with Cisco DNA Spaces, the industry’s leading IoT services platform, which would assist users to drive business outcomes at an enterprise scale.
Dec-2020: Software AG collaborated with Casa Systems, provider of telecommunication equipment and solutions. Under this collaboration, Casa integrated its portfolio of IoT devices with Software AG’s Cumulocity IoT Platform. The combination of Casa’s IoT devices and streamlined management at scale allows service providers to develop the latest IoT revenue streams faster across a variety of use cases.
Dec-2020: SAP extended its partnership with Microsoft. This deal aimed to enable users to develop and run intelligent digital supply chain and Industry 4.0 solutions on the cloud and at the edge. This expansion includes a collaborative approach to consortia, standards, and open-source, which would shape the future of supply chain and manufacturing.
Nov-2020: Cisco joined hands with Tele2, a European telecommunications operator. In this collaboration, Tele2 unveiled a new version of the IoT Connectivity Management Service 2CONTROL with Cisco. This new platform is developed to better deliver Tele2’s IoT customers’ requirements in a growing diversified IoT market.
Oct-2020: PTC extended its partnership with Rockwell Automation, an American provider of industrial automation and information technology. This expansion aims to continue both companies’ sales and product development efforts and include PTC’s product lifecycle management and software as a service (SaaS) products. It also streamlines the companies’ commercial efforts to expand a complete digital thread solution, from advanced design via maintaining, operate, and optimize-lifecycle levels.
Oct-2020: Microsoft came into partnership with Honeywell, a multinational conglomerate. Under this partnership, Honeywell would bring to market its domain-specific applications based on the Microsoft cloud platform to result in better levels of productivity for industrial customers. This partnership aims to provide new value to Microsoft’s users as it assists them to solve business challenges by digitizing their operations.
Jun-2020: Hitachi partnered with Microsoft, an American multinational technology company. The purpose of the partnership is to boost the digital transformation of the manufacturing and logistics industries all over North America, Southeast Asia, and Japan. Both the companies are working together to fulfill the increasing demand for predictive maintenance & process automation in isolated areas and complement enterprises as they cope with the challenges that have arisen from the COVID-19 pandemic.
Jun-2020: SAP collaborated with Infosys, a global leader in next-generation digital services and consulting. Under this collaboration, Infosys introduced an all-new, personalized medicine solution for the pharmaceutical sector. This solution uses the SAP C/4HANA suite, SAP S/4HANA, the SAP Analytics Cloud solution, and the SCI platform to extract intelligent insights, allowing pharmaceutical organizations to tackle critical business and regulatory needs and at the same time delivering personalized experiences to patients.
Mar-2020: Siemens formed a collaboration with NEC Corporation, a Japanese multinational information technology, and electronics company. The companies collaborated in the IoT field for providing a monitoring and analysis solution for manufacturing, which links MindSphere, the cloud-based, open IoT operating system from Siemens, and NEC’s System Invariant Analysis Technology (SIAT).
Nov-2019: Accenture signed a partnership agreement with Snam, one of the world’s leading energy infrastructure companies. This agreement aimed to study and evaluate solutions built on the Internet of Things (IoT) technologies to accelerate innovation & sustainability of energy networks which is a part of the worldwide strategic push towards an energy transition.
Nov-2019: Accenture collaborated with Rockwell Automation, an American provider of industrial automation and information technology. This collaboration aimed to develop a digital offering to assist industrial customers to move beyond prevailing manufacturing solutions to change their whole connected enterprise. This engagement is developed to capitalize on the expertise of the companies to provide the latest capabilities for better industrial supply chain optimization.
Sep-2019: PTC came into collaboration with BID Group Technologies, Ltd., a global leader in the forest products industry. Under this collaboration, BID Group Technologies is leveraging PTC’s ThingWorx Industrial Internet of Things platform to create BID Group’s next-generation predictive analytics product.
Jul-2019: Software AG partnered with Deutsche Telekom, a German telecommunications company. Deutsche Telekom and its enterprise customer unit T-Systems have expanded their Cloud of Things portfolio by utilizing Software AG’s Cumulocity IoT platform. Through this partnership, the companies aimed to expand their presence all over Germany, the United States, and European markets.
Acquisition and Mergers:
Mar-2021: Microsoft took over The Marsden Group, a global technology company. The acquisition improved its ability to develop new customer value through experimentation and better industry solutions based on the edge, Microsoft cloud, and AI products.
Jan-2021: PTC acquired Arena Solutions, the industry’s leading software as a service (SaaS) product lifecycle management (PLM) solution. Following the acquisition, PTC expanded its SaaS business unit that now includes Onshape, Arena, and PTC’s market-leading Vuforia augmented reality technology.
Oct-2020: Accenture acquired SALT Solutions AG, a technology consultancy headquartered in Würzburg, Germany. This acquisition helped Accenture in building cloud-based industrial internet of things (IoT) platforms that accelerate and maximize clients’ production and logistics and allow them to decrease quality & waste issues with the whole supply chain.
Jun-2020: Microsoft completed the acquisition of CyberX, an IoT/OT Security company. Through this acquisition, Microsoft would offer a simple approach to integrated security governance over both IT and industrial networks, and also end-to-end security over managed and unmanaged IoT devices that enable companies to identify and respond to advanced threats in converged networks faster.
Apr-2019: PTC took over Factora, one of its systems integrator partners. This acquisition accelerated its Industry 4.0 expertise as smart production deals progressively boost the company’s fast-growing Internet of Things business.
Product Launches and Product Expansions:
Nov-2020: Hitachi developed an IoT platform for the smart buildings space. It is a solution for developers that allow comprehensive remote supervision and analysis of the managing status of building equipment that include escalators, elevators, and air-conditioning systems.
Oct-2019: Microsoft released new capabilities to simplify the user journey and provide highly secured IoT solutions. These new capabilities assist users to embrace IoT as a core strategy to get better business outcomes, enhance security and address social issues by forecasting and preventing tool failures, augment smart buildings for space utilization and energy management, enhancing patient outcomes and worker security, monitoring assets all over a supply chain, and more.
Feb-2019: PTC introduced the latest version of its ThingWorx Industrial Internet of Things (IIoT) solution platform. This update includes new capabilities like Operator Advisor, developed to improve the productivity of factory workers by streamlining the way critical operational data is gathered, synthesized, and delivered.
Feb-2019: SAP launched SAP Leonardo Internet of Things (IoT) capabilities. It is the all-encompassing technology, which generates and leads digital transformation for Industrial IoT and Industry 4.0. These capabilities would allow users to advance and improve business processes utilizing data-driven intelligence & operational context from products, machines, consumers, supply chains, and partners.
Jan-2019: Cisco introduced the latest IoT networking products, developer equipment, validated design guides, and partner specializations to provide the best scale, flexibility, and safety for IoT environments. These advancements include IoT Developer Tools; New IoT Networking platforms; Blueprints for Utilities, IoT Partner Trainings; Manufacturing and Remote, and Mobile Assets.
Scope of the Study
Market Segments covered in the Report:
• Platform (Without Services)
o Device Management Platform
o Application Enablement Platform
o Connectivity Management Platform
• Asset Management
• Business Process Optimization
• Supply Chain & Management
• Automation Control
By Industry Vertical
• Energy & Utilities
• Logistics & Transportation
• Machine Manufacturing
• Food & Beverages
• Semiconductor & Electronics
• Chemical & Materials
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• IBM Corporation
• Cisco Systems, Inc.
• Microsoft Corporation
• Software AG
• SAP SE
• Hitachi, Ltd.
• Intel Corporation
• Siemens AG
• Accenture PLC
• PTC, Inc.
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