ALBANY, New York, May 29, 2018 (GLOBE NEWSWIRE) -- According to a new market report pertaining to Industrial Internet of Things (IIoT), published by Transparency Market Research, the global IIoT market is expected to reach US$ 991,562.0 Mn by 2026, expanding at a CAGR of 24.3% from 2018 to 2026. According to the report, the global market will continue to be influenced by a range of macroeconomic and industry-specific factors. Industrial internet of things hardware connectivity devices is anticipated to grow in the coming years.
Increasing demand for IIoT from the transportation sector is driving the global Industrial Internet of Things (IIoT) market
In the global Industrial Internet of Things (IIoT) market, increasing adoption of IIoT solutions and services in transportation to reduce the number of accidents and parking delays is the major factor driving the market. IIoT is playing a major role to overcome challenges in every industry. The transportation industry is facing challenges such as increasing congestion and traffic issues in metropolitan areas. To help the transportation sector, many companies have started developing advanced systems for collecting tolls to reduce time on highways and avoid congestions. There are many other systems developed to deal with traffic issues, emergency systems, tracking devices (for tracking vehicles and sending location information in an emergency scenario), and driving behavior solutions to keep track of the driving skills and avoid rash driving and accidents. Further, governments are also taking initiatives to deploy advanced systems for the transportation & logistics industry.
Request a PDF Brochure for Research Insights at https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=11498
Industrial Internet of Things (IIoT) Market Analysis:
The global Industrial Internet of Things (IIoT) market is broadly segmented by component and end-use. According to the research study, the software segment of the market held the maximum share and is anticipated to expand at a CAGR of above 26% through 2026. The software segment’s revenue contribution is primarily due to significant deployment of IIoT solutions across industries such as aviation, power generation & utility, manufacturing and others.The software segment is anticipated to remain dominant over the forecast period. In the current Industrial Internet of Things (IIoT) market, services include systems integration, consulting services, and support & maintenance services. System integration services are likely to grow in the coming years. Further, the report predicts that the hardware segment is anticipated to witness remarkable growth over the forecast period 2018 – 2026. Within hardware, connectivity devices segment is anticipated to contribute significant market revenue share and is anticipated to remain dominant throughout the forecast period. As per TMR analysis, the manufacturing end-use segment of the Industrial Internet of Things (IIoT) market is anticipated to grab maximum market share in 2018 and a similar trend is expected to be seen over the forecast period. There is increasing deployment of IIoT solutions and services in the manufacturing and healthcare sector for automation of processes (manufacturing) and advanced heath monitoring devices (health care).
Download Report TOC at https://www.transparencymarketresearch.com/report-toc/11498
North America held the largest market revenue share of the Industrial Internet of Things (IIoT) market in 2017. Increasing adoption of advanced solutions for automation in the industry is expected to drive the market across North America. APAC followed by Europe is anticipated to grow in the IIoT market during the forecast period. Analyzing the Asia Pacific IIoT market at the country level, in 2017, China held majority of revenue share of the Asia Pacific market followed by Japan. However, in terms of revenue generation, India is anticipated to grow with healthy and significant CAGR over the forecast period.
Get PDF Sample for Industry Insights at https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=11498
Global Industrial Internet of Things (IIoT) Market: Competitive Dynamics
The research study includes profiles of leading companies operating in the global Industrial Internet of Things market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Some of the key players in the market are IBM Corporation, Intel Corporation, Schneider Electric SE, General Electric Company, Emerson Electric, ABB Ltd., Accenture PLC, Tech Mahindra Ltd., Softweb Solutions Inc., Sasken Technologies Ltd., ZIH Corp., Siemens AG, Robert Bosch GmbH, NEC Corporation and among others. Various business strategies such as companies focusing on expanding their business by developing strategic partnerships and by offering innovative solutions in the end-use market are being adopted by key leaders.
Browse Press Release at https://www.transparencymarketresearch.com/pressrelease/industrial-internet-of-things-iiot-market.htm
Market Segmentation:
The global Industrial Internet of Things (IIoT) market is segmented as below:
Global Industrial Internet of Things (IIoT) Market, by Component
- Hardware
- Sensors
- Connectivity devices
- Others (Data Acquisition Devices,etc.)
- Software
- Services
- System Integration
- Consulting Services
- Support and Maintenance Services
Global Industrial Internet of Things (IIoT) Market, by End-Use
- Aviation
- Oil & Gas
- Transportation
- Power Generation & Utility
- Manufacturing
- Healthcare (Medical Devices)
- Others (Mining, Agriculture etc.)
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
Contact Us
Mr. Atil Chaudhari
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
Research Blog: http://www.techyounme.com/