Who are the major players operating in the IIoT market?

 

The major market players include are Huawei (China), Cisco (US), GE (US), Intel (US), Rockwell Automation (US), ABB (Switzerland), Texas Instruments (US), Honeywell (US), IBM (US), KUKA AG(Germany), NEC Corporation (Japan), Bosch.IO (Germany), Siemens AG (Germany), and SAP (Germany). ABB, Huawei, Cisco, Siemens, and IBM account for around 41% of the total revenue.

How will the rapid growth in agriculture vertical impact the growth rate of the overall IIoT market?

The global manufacturing vertical is transforming with the introduction of new approaches and technologies, such as smart factories, cyber-physical systems, and intelligent robotics. Governments of countries such as Germany, the UK, France, the US, China, and India have launched several initiatives to advance their manufacturing verticals. These factors are encouraging manufacturers to increase their investments for the adoption of IIoT solutions. .

How big is the opportunity for the Industrial IoT Market? How rising adoption of smart beacons technology can help grasp this opportunity?

Smart beacon technology has emerged as an alternative for Wi-Fi in the retail vertical. It is expected to witness increased demand from commercial enterprises and connected homes, and in personal assets tracking applications. Small and large-scale retailers use this technology for collecting data and sending targeted notifications to prospects and customers who have downloaded their apps.

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Key Market Players

The leading players in the industrial IoT market are Huawei (China), Cisco (US), GE (US), Intel (US), Rockwell Automation (US), ABB (Switzerland), Texas Instruments (US), Honeywell (US), IBM (US), KUKA AG(Germany), NEC Corporation (Japan), Bosch.IO (Germany), Siemens AG (Germany), and SAP (Germany).

Networking technology to dominate the IIoT Market

Networking technologies accounted for the largest market share in 2021. 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.

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