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Market Size – USD 74.28 billion in 2019, Market Growth - CAGR of 7.5%, Market Trends – Increasing adoption of Industrial IoT in the transportation & logistics

VANCOUVER, BRITISH COLUMBIA, CANADA, November 17, 2022 /EINPresswire.com/ -- The global Industrial IoT Market will be worth USD 128.09 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing adoption of the Industrial IoT solutions by industrialists and manufacturers. The growing need to improve productivity, enhance the workers' safety, and reduce the operating and manufacturing costs is expected to drive the growth of the Industrial IoT technologies over the forecast period. The rising need to reduce the risk of cyber and data breaches caused by human errors is most likely to fuel the demand for Industrial IoT technologies.

The growing need to reduce the shipping cost has resulted in the increased adoption of the Industrial IoT in the transportation & Logistics industry. Moreover, automotive IoT is expected to be increasingly utilized by the transportation sector for predictive diagnostics and vehicle maintenance. Besides, the tracking of the real-time location of the vehicle for the management of public transportation is a key contributing factor to the increasing adoption of IoT technologies in the transportation sector. Technological advancements of the existing transportation, such as integration of vehicle-to-vehicle (V2V) communication, is expected to present lucrative opportunities in the future.

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 The research has been based mainly on the synthesis, analysis, and interpretation of information gathered from specialist sources about the Industrial IoT market from 2020 to 2027. The report’s section on the competition landscape offers a detailed analysis of the market shares of the top Industrial IoT industry players.

Key Players Profiled in the Report are:

GE, Intel, Cisco, IBM, Siemens, Honeywell, Rockwell Automation, Texas Instruments, ABB, and Kuka, among others.

Some Key Highlights from the Report

In June 2020, Wipro Ltd and IBM collaborated to help enterprises, startups with cloud services. Through this collaboration, Wipro will develop hybrid cloud offerings to help businesses manage, migrate, and transform critical workloads and applications, with security across private or public cloud and on-premises IT environments. The partnership will also provide customers remote access to Red hat and IBM solutions.
The solution segment held the largest market share of 47.5% in 2019. Increasing investments of the Industrial IoT solution providers for the launch of technologically advanced information systems for the industrial sector is expected to drive the segment's growth.
Logistics & Transport are forecasted to grow with the fastest CAGR of 9.3% over the forecast period. Increasing adoption of the Industrial IoT technologies in the logistics & Transportation sector is expected to drive the segment's growth.
The Asia Pacific accounted for the largest market share of the Industrial IoT market in 2019. Increasing adoption of intelligent technologies and advanced factory automation in developing economies is expected to drive this region's growth.
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Furthermore, the report provides a comprehensive overview of the Industrial IoT market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.

Emergen Research has segmented the global Industrial IoT Market on the basis of Component, End User, and region:

Component Outlook (Revenue, USD Billion; 2017-2027)

Services (Managed, Professional)
Solution (Analytics, Remote Monitoring, Security Solutions, Data Management)
Platform (Application Management, Connectivity Management, Device Management)
End-User Outlook (Revenue, USD Billion; 2017-2027)

Energy & Power
Healthcare
Agriculture
Manufacturing
Oil & Gas
Logistics & Transport
Others
Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Industrial IoT market expected to boost the growth of the industry in the coming years.

Read more on the global Industrial IoT market report here@ https://www.emergenresearch.com/industry-report/industrial-iot-market

Key Questions Answered in the Market Report

How did the COVID-19 pandemic impact the adoption of by various pharmaceutical and life sciences companies?

What is the outlook for the impact market during the forecast period 2020-2027?

What are the key trends influencing the impact market? How will they influence the market in short-, mid-, and long-term duration?

What is the end user perception toward?

How is the patent landscape for pharmaceutical quality? Which country/cluster witnessed the highest patent filing from January 2013-June 2020?

What are the key factors impacting the impact market? What will be their impact in short-, mid-, and long-term duration?

What are the key opportunities areas in the impact market? What is their potential in short-, mid-, and long-term duration?

What are the key strategies adopted by companies in the impact market?

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