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Global Industrial Internet of Things (IIoT) Market By Software (Visualization Software, PLM, Others), By Application (Smart Robotics, Predictive Maintenance, Others), By End-Users, By Region, Forecast & Opportunities to 2026

The global industrial IoT market accounted for a value of USD 70.5 billion in 2019 and is projected to register growth at a CAGR of 5.8% during forecast period.

COVID-19 has impacted the industrial IoT market but not significantly. The production processes across industrial sector have to halt due to lockdown and this leads to decline in demand for industrial IoT market. The adoption of industrial IoT is decreasing due to shut down of various industries across the world. The supply chain got disrupted due o travel restriction to reduce transmission of corona virus and this has affected the market during COVID-19.

Definition:

The industrial Internet of Things (IIoT) can be refers as interconnected instrument, sensors and other devices which are networked together with computer’s industrial applications which includes manufacturing and energy management. It allows data collection, analysis, exchange and improvement in productivity and efficiency.

Market Dynamics (Drivers/Opportunities):

IIoT is widely adopted in various industries around the world. The technological advancement in electronics and semiconductor devices is increasing around the world. The use of cloud computing is also increasing in industrial sector and this increases use of industrial internet of things technology and drives growth in IIoT market during forecast period.

The government across various countries is implementing policies to support the IIoT market. The investment in research & development department is increasing in IIoT market to brought new and innovative products in the market. This increases adoption of IIoT market and drives growth in this market during forecast period.

Market Insights, by Software

On the basis of software, the IIoT market is segmented into SCADA, MES, PLM, outage management system, distribution management system, visualization software, retail management software, transit management systems, farm management system and remote patient monitoring. The farm management system is estimated to grow at highest CAGR during forecast period. The demand for farm management system is increasing around the world and the adoption of precision farming is increasing globally. This increases growth of farm management systems during forecast period.

Market Insights, by Application

 On the basis of application, the IIoT market is segmented into smart robotics, predictive maintenance, plant maintenance, remote monitoring, asset & resource optimization, logistics & supply chain optimization, inventory management and production flow management. The predictive maintenance segment is estimated to dominate the market during forecast period. The adoption of innovative IIoT technologies such as digital twin that assist managing, designing and predicting failure rate of assets. The predictive maintenance application is rapidly adopting the IIoT technology around the world. The organizations are shifting to digitally driven asset management approaches and it helps in maintenance of big plant processes. This drives growth in predictive maintenance segment during forecast period.

Market Insights, by End-Users

On the basis of end-users, the IIoT market is segmented into energy & power, oil & gas, manufacturing, logistics & transport, healthcare, agriculture and others. The logistics & transport segment is estimated to foresee highest growth during forecast period. The dissemination of connected transportation and logistics system is increasing around the world. The use is IoT in transportation and logistics segment is rapidly increasing and this drives growth in IIoT market during forecast period.

Regional Insights

Asia-Pacific region accounted for largest market share in 2019 and it is estimated to dominate the market during forecast period. The Asia-Pacific is considered as a major hub for industrial manufacturing and the population is growing rapidly. The investment in research and development segment is increasing in IIoT segment. The focus towards international and domestic IT companies is increasing on cloud based services and big data analytics services in this region. The industries are widely adopting IIoT in this region. This drives growth in Asia-Pacific region during forecast period.

Key Companies & Market Share Insights

The key market players in IIoT industry are Cisco, GE, Honeywell, Intel, IBM, ABB, Rockwell Automation, Siemens, Kuk, Texas Industries, ARM Holding, PTC, Dasault Systems, SAP, Huawei, Sigfox, Bosch and NEC

Segments Covered in the Report

This report forecasts The Global IIoT Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global IIoT market report on the basis of software, application and end-users.

Industrial Internet of Things Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Industrial Internet of Things Market, By Software, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • SCADA
  • MES
  • PLM
  • Outage Management System
  • Distribution Management System
  • Visualization Software
  • Retail Management Software
  • Transit Management Systems
  • Farm Management System
  • Remote Patient Monitoring.
  1. Industrial Internet of Things Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Smart Robotics
  • Predictive Maintenance
  • Plant Maintenance
  • Remote Monitoring
  • Asset & Resource Optimization
  • Logistics & Supply Chain Optimization
  • Inventory Management
  • Production Flow Management
  1. Industrial Internet of Things Market, By End-Users, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Energy & Power
  • Oil & Gas
  • Manufacturing
  • Logistics & Transport
  • Healthcare
  • Agriculture
  1. Industrial Internet of Things Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Software
    • By Application
    • By End-Users
    • By Country
      • USA
        • By End-Users
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Software
      • By Application
      • By End-Users
      • By Country
        • Brazil
          • By End-Users
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Software
        • By Application
        • By End-Users
        • By Country
          • UK
            • By End-Users
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Software
          • By Application
          • By End-Users
          • By Country
            • China
              • By End-Users
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Software
            • By Application
            • By End-Users
            • By Country
              • Saudi Arabia
                • By End-Users
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Bosch
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Cisco
    • GE
    • Honeywell
    • Intel
    • IBM
    • ABB
    • Rockwell Automation
    • Siemens
    • Kuk
    • Texas Industries
    • ARM Holding
    • PTC
    • Dasault Systems
    • SAP
    • Huawei
    • Sigfox
    • NEC
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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