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Global Industrial IoT Market 2019-2024: Focus on Ecosystem, Industry and Region
[January 24, 2020]

Global Industrial IoT Market 2019-2024: Focus on Ecosystem, Industry and Region

DUBLIN, Jan. 24, 2020 /PRNewswire/ -- The "Global Industrial IoT Market: Focus on Ecosystem, Industry, and Region - Analysis and Forecast, 2019-2024" report has been added to's offering.

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The global Industrial IoT market generated $72.34 billion in 2018 and is expected to witness a CAGR of 8.67% during the forecast period from 2019 to 2024.

The growth in the Industrial IoT market is due to the high rate of demand of Industrial IoT applications in smart industries. Additionally, low sensor costs and innovative sensor technology is further expected to drive the market growth in the coming future.

Expert Quote

The Industrial IoT market is witnessing a high growth rate due to the constant effort of major organizations to produce connected business models. Moreover, the demand for connectivity is further going to increase in the coming years owing to the launch of 5G services which can help in reducing the latency and increasing the throughput of data.

Further, the growth of Industrial IoT market in Europe is currently the highest, due to the region's strong inclination toward automotive and manufacturing sector, where the greatest number of Industrial IoT solutions are deployed. The Industrial IoT market in this region is expected to grow at a CAGR of 8.41% during the forecast period (2019-2024).

Market Segmentation

The Industrial IoT market has been tracked along the lines of types of ecosystem, industry, and region (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). Revenue generated from the ecosystem (hardware, platform, services, and connectivity) and industry (manufacturing, automotive, energy and utilities, healthcare, and agriculture, among others) have been analyzed.

The report also covers the Industrial IoT market on a global scale and consequently provides revenue data of the key regions. A separate segment specifically has been dedicated to the key global regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa, and South America.

Based on ecosystem, the global Industrial IoT market is segmented into hardware, platform, services, and connectivity. The hardware segment is currently the highest revenue-generating segment among all the sub-segments of Industrial IoT by ecosystem and is expected to grow at a significant rate during the forecast period. The high growth rate of hardware is attributed to the increasing demand for low-cost sensors and innovative sensor technology to be used on factory floors.

Apart from ecosystem, the report also provides the overall revenue generated from industries. The revenue is expected to increase at a significant rate in the coming future owing to the high adoption rate of IIoT applications such as predictive maintenance, remote monitoring, and supply chain management, among others, in manufacturing floors.

Key Companies

A list of 20 Industrial IoT companies have been analyzed in the report, including hardware and platform vendors, application vendors, system integrators, and network operators. ome of the key players operating in these segments include PTC Inc., Vodafone PLC, Accenture, and IBM.

Key Questions Answered in the Report

  • What was the total revenue generated by the global Industrial IoT market in 2018, and how is it expected to grow during 2019-2024?
  • What are the major driving forces, trends, challenges, and growth opportunities that can to influence the global Industrial IoT market during the forecast period 2019-2024?
  • Who are the key players in the Industrial IoT space among hardware vendors, network operators,
  • system integrators, application vendors, and what was their respective market share in 2018?
  • Which sub-segments (hardware, platform, services, and connectivity) of the ecosystem of global Industrial IoT market is expected to dominate during the forecast period?
  • Which industry (manufacturing, automotive, energy and utilities, healthcare, and agriculture, among others) of the global Industrial IoT market is expected to dominate during the forecast period?
  • Which regions from North America, Europe, Asia-Pacific, Middle East and Africa, and South America are expected to lead the global Industrial IoT market in the forecast period, 2019-2024?
  • Which are the key players active in the global Industrial IoT ecosystem?
  • What is the holistic point of view of the industry analyst in terms of latest trends, upcoming technologies in the space of Industrial IoT, and the scope of its adoption in the future?

Key Topics Covered

Executive Summary

1 Market Overview
1.1 What is Industrial IoT?
1.2 Architecture and Components of Industrial IoT
1.3 Expectations from Industrial IoT
1.4 Touch Points for Industrial IoT Across Industries
1.5 Overall Industry Storyboard and Value Chain Analysis

2 Market Dynamics
2.1 Introduction
2.2 Drivers
2.2.1 High Demand for Industrial IoT Applications in Smart Industries
2.2.2 Low Sensor Cost and Innovative Sensor Technology
2.2.3 Utilization of Cloud Computing for Large Scale IIoT Solutions
2.3 Challenges
2.3.1 Integration of Industrial IoT into Existing Technology
2.3.2 Security Challenges for IIoT
2.4 Opportunity
2.4.1 Integration of Artificial intelligence, Big Data, and Machine Learning
2.4.2 Integration of Blockchain in Industrial IoT
2.4.3 Adoption of 5G Across Industries

3 Competitive Insights
3.1 Key Developments in the Industrial IoT and Strategies Adopted
3.1.1 Product Launches
3.1.2 Partnerships and Collaborations
3.1.3 Business Expansion
3.1.4 Mergers and Acquisitions
3.1.5 Other Developments
3.2 Key Players Active in the Industrial IoT Ecosystem
3.2.1 Hardware and Platform Vendors
3.2.2 System Integrators
3.2.3 Network Operators
3.2.4 Application Vendors
3.2.5 Startups
3.3 Recent Developments in IIoT Investment Space
3.4 Market Share Analysis

4 Industry Analysis
4.1 Supply Chain Analysis
4.2 Industrial IoT Associations and Consortiums
4.3 Use Cases
4.4 Market Trends
4.5 Standards and Protocols
4.6 Opportunity Matrix Analysis
4.7 Country Share Analysis

5 Global Industrial IoT Market (by Ecosystem), Analysis and Forecast
5.1 Assumptions and Limitations
5.2 Introduction
5.3 Hardware
5.4 Platform
5.5 Services
5.6 Connectivity
5.6.1 Wired Technologies Ethernet Modbus PROFINET FOUNDATION Fieldbus
5.6.2 Wireless Technologies Wi-Fi ZigBee Bluetooth and Bluetooth Low Energy Cellular Technology LPWAN Technology

6 Global Industrial IoT Market (by Technology)
6.1 Market Overview
6.2 Sensors
6.3 Distributed Control System (DCS)
6.4 Camera
6.5 Condition Monitoring
6.6 Radio Frequency Identification (RFID)
6.7 GPS
6.8 Yield Monitor
6.9 Industrial Robotics
6.10 Flow and Application Control Devices
6.11 Others

7 Global Industrial IoT Market (by Application)
7.1 Market Overview
7.2 Data Management Solutions for Analytics
7.3 Distribution Management System
7.4 Manufacturing Execution System (MES)
7.5 Outage Management System
7.6 Product Lifecycle Management
7.7 Remote Monitoring
7.8 Retail Management System
7.9 Predictive Maintenance
7.10 Others

8 Global Industrial IoT Market (by Industry)
8.1 Market Overview
8.2 Energy and Utilities
8.3 Automotive
8.4 Manufacturing
8.5 Retail
8.6 Agriculture
8.7 Healthcare
8.8 Metal and Mining
8.9 Others

9 Global Industrial IoT Market, (by Region)
9.1 Market Overview
9.2 North America
9.3 Europe
9.4 Asia-Pacific (APAC)
9.5 Middle East & Africa
9.6 South America

10 Analyst PoV
10.1 Where is the Industry Heading?
10.2 Key Recommendations for Stakeholders

11 Company Profiles
11.1 Hardware and Platform Vendors
11.1.1 ABB Ltd. Company Overview Role of ABB in Global Industrial IoT Market Financials SWOT Analysis
11.1.2 GE Digital
11.1.3 PTC Inc.
11.1.4 Robert Bosch GmbH
11.1.5 Siemens AG
11.2 System Integrators
11.2.1 Accenture plc
11.2.2 Capgemini
11.2.3 HCL Technologies Limited
11.2.4 MAVERICK Technologies, LLC
11.2.5 Tata Communications
11.3 Network Operators
11.3.1 AT&T Inc.
11.3.2 ORANGE
11.3.3 Telia Company
11.3.4 Verizon Communications Inc.
11.3.5 Vodafone Group Plc
11.4 Application Vendors
11.4.2 A.P Moller-Maersk A/S
11.4.3 FANUC Corporation
11.4.4 Hitachi Vantara Corporation
11.4.5 IBM

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