According to MarketIntelReports “Global Industrial Internet of Things (IIoT) Market Size, Status and Forecast 2022”:
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Industrial internet of things is likely to revolutionize the manufacturing processes. Accessibility and acquisition of large volumes of data at higher speed, with greater efficiency than earlier are made possible by iot. Many companies have started using industrial iot connected through smart devices in their factories. In the future, many firms will use iot applications in three ways, tapping intelligent technologies for boosting innovation to bring about a transformation, producing new business models, and increasing production, thereby increasing profits. The recent increase in data generation using iot as a factor will drive the Industrial Internet Of Things Market. The utilization of industrial robots and introduction of initiatives like Industrial Value Chain Initiative will boost the market.
Scope & Regional Forecast of the Industrial Internet Of Things Market:
The Industrial Internet Of Things Market will see a rising demand due to the technological advancements in related areas, in electronics and semiconductors especially. The industrial internet has lot of potential in the industries. But sectors like power generation, healthcare, oil and gas, aviation, transportation, mining, and manufacturing are important application industries. The robust growth of the industries along with the increasing popularity of cloud computing technologies will ensure the rise in the demand for iot industry.
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The demand for the Industrial Internet of Things Market is fuelled by easy availability of low cost and efficient sensors. Transformation of big data analytics will also favour the growth for internet of things applications. It ensures improved connectivity, scalability, cost savings, time savings, etc. all this has pushed the demand for iot technology. Installation of camera systems has been observed to boost the growth for internet of things technologies.
Segmentations & Key Players Involved in the Industrial Internet Of Things Market
The Industrial Internet Of Things Market can be broken down into various segments as follows:
- Type- Solution, Services, and Platform.
- Application- Manufacturing, Energy & Power, Oil & Gas, Healthcare, Logistics & Transport, Agriculture, and Others.
- Region- United States, EU, Japan, China, India, Southeast Asia.
Some of the key players involved in the Industrial Internet Of Things Market are as follows:
- ARM Holding
- Cisco Systems
- General Electric Company (GE)
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