Dallas, Texas, Feb. 05, 2020 (GLOBE NEWSWIRE) -- The “Industrial IoT Market by Component (hardware, software, services, connectivity), Applications (manufacturing, energy & power, healthcare, logistics & transport, agriculture, others), and Region, Global Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.

The industrial IIoT industry continues to advance with respect to the growing preference over cloud integration backed by increasing adoption of high-tech smart sensors and data analytics tools for inventory & facility management and optimization of supply chain & logistics using smart metering. On the other hand, the application of IoT is agriculture that includes managing soil and water, livestock monitoring, field monitoring through drones, managing smart greenhouses, precision farming, and more, have gained the demand for IIoT in the last few years. However, concerns over technology integration, asset-level visibility, and security, are some of the restraints that are likely to hinder the market growth

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The global industrial IoT market size is projected to reach USD 726 billion by 2025.

Having realized that the industrial internet of things can enable radical improvement in functional efficacies, numerous organizations throughout the globe are adopting predictive maintenance methods based on compatible software and smart sensors. The method can particularly enable in enhancing the safety factor while restricting the equipment downtime.

The report also throws light on various aspects of the global industrial IoT industry by assessing the market using value chain analysis. The report covers several qualitative aspects of the industrial IoT industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.

The global industrial IoT market has strong competition among the well-established and new emerging players. These market players targets to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.

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On the basis of the component of industrial IoT, the market is categorized into hardware, software, services, and connectivity. Hardware companies engaged in manufacturing semiconductor components have partnered with hardware, networking, and solution providers with industry associations, and academic consortiums to develop informal and formal standards for IIoT applications. This is helping companies to define industry standards & requirements, accelerate implantation of IIoT, and create interoperability across environments. Many established companies have been rigorous in adapting the Application Programming Interfaces (APIs) enabling basic commands and data transfers within IoT devices.

The growth for industrial IoT in the Asia Pacific region is expected to be the largest from 2019-2025. The growth in demand for automated solutions from mining, metals, healthcare, and manufacturing industries shall drive the demand for the market substantially. On the other hand, government initiatives and regulations within the IIoT industry from nations such as India, China, South Korea, and Japan, are helping them to develop manufacturing sectors with a rise in capital investments in automation solutions.

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The major players of global industrial IoT market are Cisco, GE, Honeywell, Intel, IBM, ABB, Rockwell Automation, Siemens, Huawei, Bosch, KUKA AG, Texas Instruments, Dassault Systemes, PTC, ARM, and NEC. As of 2019, the market for IIoT providers is fragmented with the presence of established global and domestic players across the globe. Moreover, the established companies are coming up with upgraded industrial IoT technologies that provide digital and automation solutions.

Major points from Table of Contents:

Chapter 1 Introduction

Chapter 2 Research Methodology

Chapter 3 Executive Summary

Chapter 4 Market Outlook

Chapter 5 Smart Grid Market by Application, 2018-2025 (in USD billion)

Chapter 6 Smart Grid Market by Solution, 2018-2025 (in USD billion)

Chapter 7 Smart Grid Market by End User, 2018-2025 (in USD billion)

Chapter 8 Smart Grid Market By Region, 2018-2025 (in USD billion)

Chapter 9 Competitive Landscape

Chapter 10 Company Profiles

Chapter 11 Appendix

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Adroit Market Research is a global business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.