The Business Research Company’s IIoT Platform Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
What Is The Estimated Market Size Of The Global IIoT Platform Market And Its Annual Growth Rate?
The iiot platform market is projected to continue its strong growth, reaching $19.99 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to digital twin implementation, environmental sustainability focus, autonomous vehicles and drones, real-time quality control, customization and scalability.
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Growth Driver Of The IIoT Platform Market
Growing demand for industrial automation is expected to propel the growth of the industrial internet of things (IIoT) platform market. Industrial automation refers to the use of various control systems, such as computers or robots, and information technologies to handle different processes and machinery in an industry to replace human intervention. Industrial automation on IIoT platforms involves integrating sensors, control systems, and machinery to collect real-time data, enabling efficient monitoring, analysis, and optimization of industrial processes.
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Which Market Players Are Steering The IIoT Platform Market Growth?
Key players in the market include Intel Corporation, General Electric Company, Amazon Web Services Inc., International Business Machine Corporation, Microsoft Corporation, Cisco Systems Inc., SAP SE, Oracle Corporation, PTC Inc., Bosch Software Innovation GmbH, Rockwell Automation Inc., Emerson Electric Co., QiO Technologies India Pvt. Ltd., Google Inc., Hewlett-Packard Enterprise Company, Seeq Corporation, Hitachi Vantara Enterprise Company, Softeq Corp., Cognite AS, Johnson Controls Inc., Toshiba Corporation, Mitsubishi Electric Corporation, Honeywell International Inc., Siemens AG, Schneider Electric SE, ABB Ltd., Huawei Technologies Co. Ltd., Dell Technologies Inc., Accenture plc, Capgemini SE, Infosys Limited, Wipro Limited, Tata Consultancy Services Limited, Tech Mahindra Limited, HCL Technologies Limited, L&T Technology Services Limited, Robert Bosch GmbH, Fujitsu Limited, NEC Corporation, Advantech Co. Ltd., Telit Communications plc, Eurotech S.p.A., Wind River Systems Inc.
What Are The Key Trends That Influence IIoT Platform Market Size?
Major companies operating in the industrial internet of things (IIoT) platform market are increasing their focus on introducing innovative solutions to gain a competitive edge in the market. New cloud tools are designed to enhance network visibility, and control, and simplify IT operations while providing secure connectivity management for industrial assets and insights into their security posture.
How Is The Global IIoT Platform Market Segmented?
1) By Offering: Platforms, Services
2) By Application: Asset Management, Remote Monitoring, Network System Management
3) By End-User: Manufacturing, Energy and Power, Oil and Gas, Healthcare, Logistics and Transport, Other End Users
Geographical Insights: North America Leading The IIoT Platform Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
IIoT Platform Market Definition
The industrial internet of things (IIoT) platform collects real-time data from hardware, software systems, sensors, and other data points into a centralized location that is typically accessible to a large number of users. Transferring the data to a centralized system, typically in the cloud but occasionally also on-premises or on the edge, it eliminates the gap between systems, people, and machines. The industrial internet of things (IIoT) platform are used to connect frontline industrial processes with backend information systems.
IIoT Platform Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global iiot platform market report covering trends, opportunities, strategies, and more
The IIoT Platform Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on iiot platform market size, iiot platform market drivers and trends and iiot platform market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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