Global IIoT Platform Market Report 2023: Government Initiatives to Promote Industrial Automation Bolsters Growth
Global IIOT Platform Market
Dublin, May 09, 2023 (GLOBE NEWSWIRE) -- The "IIoT Platform Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global IIOT platform market is expected to grow from $8.48 billion in 2022 to $9.78 billion in 2023 at a compound annual growth rate (CAGR) of 15.3%. The IIOT platform market is expected to grow to $17.12 billion in 2027 at a CAGR of 15.0%.
Major players in the IIoT platform market are Intel Corporation, General Electric, Amazon Web Services Inc., International Business Machine (IBM) Corporation, Microsoft Corporation, Cisco Systems Inc., SAP SE, Oracle Corporation, PTC Inc., Bosch Software Innovation GmbH, Rockwell Automation Inc., Emerson Electric Co., QiO Technologies, Google Inc., and Hewlett-Packard Enterprise.
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The industrial internet of things (IIoT) platform collects real-time data from hardware, software systems, sensors, and other data points into a centralized location that is typically accessible to a large number of users. Transferring the data to a centralized system, typically in the cloud but occasionally also on-premises or on edge, it eliminates the gap between systems, people, and machines. The industrial internet of things (IIoT) platform are used to connect frontline industrial processes with backend information systems.
The main offering of the IIOT platform are platforms and, services. Platforms used in IIoT refer to a system for connecting frontline industrial processes with backend information systems. The application involved are asset management, remote monitoring, and network system management that are used by various end users such as manufacturing, energy and power, oil and gas, healthcare, logistics and transport, and others.
The IIOT platform market research report is one of a series of new reports that provides IIOT platform market statistics, including IIOT platform industry global market size, regional shares, competitors with IIOT platform market share, detailed IIOT platform market segments, market trends, and opportunities, and any further data you may need to thrive in the IIOT platform industry. This IIOT platform market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Product innovation is a key trend gaining popularity in the industrial internet of things (IIoT) platform market. Major companies operating in the industrial internet of things (IIoT) platform market are focused on developing new and innovative products to strengthen their market position.
For instance, in April 2022, RS Components, a UK-based industrial equipment and facilities distributor, and Tata Consultancy Services, an India-based information technology services and consulting company launched RS Industria, a new cloud-based Industrial Internet of Things (IIOT) platform.
RS Industria makes it simpler to link current sources of manufacturing asset data, such as vibration sensors, PLCs, SCADA systems, and utility meters. RS Components can employ machine learning, artificial intelligence (AI), augmented reality (AR), and virtual reality (VR) technologies to gain better and faster insight into their data. It makes it easier to link current production asset data sources including vibration sensors, PLCs, SCADA systems, and utility meters.
In 2021, Ivanti, a US-based software company acquired the industrial internet of things (IIoT) technology platform of WIIO Group for an undisclosed amount. Through the acquisition, Ivanti would enable industry 4.0 and secure the supply chain of the future. Now customers of the company would be able to get a 360-degree view of their IIoT equipment, proactively identify and solve issues and build scalable applications that drive efficiency. WIIO Group is a France-based professional IT and IIOT solutions company.
North America was the largest region in the IIoT Platform market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the IIoT platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the IIoT platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Government initiatives to promote industrial automation have propelled the growth of the industrial internet of things (IIoT) platform market. Industrial automation is the control of machinery and processes used in various industries by autonomous systems through the use of technologies including robotics and computer software. The government across the world are making initiatives to promote industrial automation and revolutionized the industrial sector to meet the competition across the work and develop the county.
No. of Pages
2023 - 2027
Estimated Market Value (USD) in 2023
Forecasted Market Value (USD) by 2027
Compound Annual Growth Rate
Key Topics Covered:
1. Executive Summary
2. IIoT Platform Market Characteristics
3. IIoT Platform Market Trends And Strategies
4. IIoT Platform Market - Macro Economic Scenario
4.1. COVID-19 Impact On IIoT Platform Market
4.2. Ukraine-Russia War Impact On IIoT Platform Market
4.3. Impact Of High Inflation On IIoT Platform Market
5. IIoT Platform Market Size And Growth
5.1. Global IIoT Platform Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global IIoT Platform Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. IIoT Platform Market Segmentation
6.1. Global IIoT Platform Market, Segmentation By Offering, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.2. Global IIoT Platform Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Network System Management
6.3. Global IIoT Platform Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Energy and Power
Oil and Gas
Logistics and Transport
Other End Users
7. IIoT Platform Market Regional And Country Analysis
7.1. Global IIoT Platform Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global IIoT Platform Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
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