How COVID-19 is impacting the Industrial IoT (IIoT) Market

Get in-depth analysis of how COVID-19 is impacting the Industrial IoT (IIoT) Market

The Industrial IoT (IIoT) Market is expected to grow from USD 77.3 billion in 2020 to USD 110.6 billion by 2025, at a CAGR of 7.4% during the forecast period. The growth of the IIoT industry is driven by factors such as technological advancements in semiconductor and electronic devices, increased use of cloud computing platforms, standardization of IPv6, and support from governments of different countries for R&D activities related to IIoT.

Networking technology to dominate the IIoT Market

Networking technologies accounted for the largest market share in 2019. Networking technologies, especially wireless technology, are the backbone of IIoT. Numerous machines and sensor nodes are connected to the Internet using these technologies to facilitate machine-to-machine communication. These technologies also enable the collection of large volumes of data for improved decision-making. An extensive range of wireless communication technologies are available based on connectivity range, power requirements, and data transfer rates. The industrial sector is relying increasingly on cellular technologies for machine-to-machine communication.

The IIoT market of farm management systems to grow at the highest CAGR during the forecast period

The demand for farm management software is expected to grow at the highest CAGR during the forecast period. Increasing adoption of precision farming globally is expected to drive the growth of the farm management systems. Precision farming helps farmers make decisions that were not possible to analyze and interpret due to the lack of collected data without using effective tools. Software used by farm management systems allows cultivators to use the data collected over the years to create formula-based prescriptions, analyze the average yield data, create profit maps, and import soil test results.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=129733727

APAC to hold the largest share of the IIoT market in 2019

APAC to hold the largest share of the market, in terms of value, in 2019. Asia Pacific is a major hub for industrial manufacturing and has become a global focal point for significant investments and business expansions. The growing population, rising investments for R&D activities, and the increasing focus of international and domestic IT companies on the growth of big data analytics and cloud-based services in the region are expected to drive the growth of this market.

Key Market Players

The major players in the global IIoT market are ARM holding (UK), Cisco (US), GE (US) Intel (US), Rockwell Automation (US), ABB (Switzerland), Texas Instruments (US), Dassault Systèmes (France), Honeywell (US), Huawei Technologies (China), IBM (US), KUKA AG(Germany), NEC Corporation (Japan), Bosch.IO (Germany), Siemens AG (Germany), and PTC (US).

About MarketsandMarkets™

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.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Sanjay Gupta

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441

newsletter@marketsandmarkets.com