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Industrial IoT Market worth 105.4 billion by 2025 with a growing CAGR of 7%

Industrial IoT Market Size | IIoT Market | Industry Analysis and Market Forecast to 2023 | MarketsandMarkets

USA, 9 July 2019 -- Industrial IoT Market Research Report- Exclusive Research Report on Industrial IoT Market. Identify the New Revenue Sources in Industrial IoT Industry and Win the competition.

According to the new research report "Industrial IoT Market by Device & Technology (Sensors, RFID, Industrial Robotics, Condition Monitoring, Smart Meters, Camera System, Networking Technologies), Software (PLM systems, MES, SCADA), Vertical, and Geography - Global Forecast to 2025", is expected to grow from USD 64.0 billion in 2018 to USD 105.4 billion by 2025; it is estimated to grow at a CAGR of 7% during 2019–2025. Technological advancements in semiconductor and electronics devices, increasing use of cloud computing platform, standardization of IPv6, support from governments worldwide, and decreasing cost of automation are the key factors fueling the growth of this market.

Based on software, market for manufacturing execution system is expected to gain significant share of Industrial IoT market by 2025

The manufacturing excecution system (MES) software is expected to account for the largest share of the Industrial IoT market by 2025. The MES Industrial IoT software is used to monitor and manage work in factories, it helps manufacturing facilities with materials, orders and production functionalities to reduce costs and improve efficiency.

 Based on device & technology, market for smart beacon to grow at higher CAGR from 2020 to 2025

The market for smart beacon is expected to grow at a higher CAGR from 2019 to 2025. Also known as Bluetooth low energy (BLE) beacon, is a type of proximity sensor. Usability in the retail, commercial/enterprise, connected home, and personal asset tracking are likely to be the major factors contributing to the growth of the market for smart beacon. These sensors find their applications in several industries, ranging from retail to industrial to consumer electronics.

Industrial IoT market for agriculture vertical to grow at highest CAGR from 2020 to 2025

Based on end-user vertical segment, the market for the agriculture vertical is expected to grow at the highest CAGR from 2019 to 2025. The growth of the Industrial IoT market for the agriculture vertical is driven by the growing adoption of Industrial IoT for precision farming. Industrial IoT can be used for application such as, GPS-enabled guiding system to remote monitoring and controlling of multiple in-field devices.

https://www.marketsandmarkets.com/Market-Reports/industrial-internet-of-things-market-129733727.html

Industrial IoT market in APAC to grow at highest CAGR during forecast period

The Industrial IoT market in APAC is expected to grow at the highest CAGR during the forecast period. The APAC have huge population, increased R&D investments, and high manufacturing, which is also emerging hub for the metals and mining vertical. Infrastructural and industrial development in emerging economies like China, India, and South-East Asia is fueling the growth of industrial IoT in APAC. Cost-effective and highly efficient Industrial IoT have witnessed an increasing demand from manufacturing, energy, oil & gas, metals and mining, healthcare, retail, transportation and agriculture, which is likely to propel the growth of the Industrial IoT market in APAC in the next few years.

Key players in the market include Cisco (US), General Electronics (US), Honeywell (US), Intel (US), IBM (US), ABB (Switzerland), Rockwell Automation (US), Siemens (Germany), Huawei (China) and Bosch (Germany). These players are increasingly undertaking product launches, mergers, and acquisitions to increase their market shares.



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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Submitted by stevestark002 on Tuesday, 9 July 2019 at 6:09 PM
Category: Consumer Technology
 
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