Industrial Internet of Things (IIoT) Market to Reach $933 Billion by 2025 - Lack of a Defined Protocol or Standardization Hinders Growth - Research and Markets
May 19, 2017 --
DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Industrial Internet of Things (IIoT) Market, 2014-2025" report to their offering.
The global industrial IoT market is expected to reach USD 933.62 billion by 2025. The growing demand and adoption of cloud computing, coupled with the Scalability of IPv6-3.4X 10^38 IP address, are presumed to drive the market over the forecast period.
Businesses, across the globe, are seeking new operating models to create a connected enterprise for merging operational and information departments of the industry. This transformation is predicted to increase the overall productivity, enhance operational efficiency, improve visibility, and reduce the complexities of different processes in the industry.
The ability of IoT to reduce costs has been the prime factor for its adoption in the industrial sector. However, several significant investment incentives, such as increased productivity, process automation, and time-to-market, have also been boosting this adoption. The falling prices of sensors have reduced the overall cost associated with data collection and analytics.
An emerging trend among enterprises worldwide is the transformation of technical focus to improving connectivity in order to undertake data collection with the right security measures in place and with improved connections to the cloud. The emergence of low-power hardware devices, cloud integration, big data analytics, robotics & automation, and smart sensors are also driving IIoT market growth.
However, there are a few factors that are anticipated to limit the global IIoT growth. The major factors challenging the market growth are the lack of a defined protocol or standardization and use of old equipment. Security-related concerns, associated with big data, are also expected to limit the market growth.
- ARM Holding plc
- Atmel Corporation
- Cisco Systems, Inc.
- General Electric Company (GE)
- International Business Machines Corporation (IBM)
- Intel Corporation
- Rockwell Automation, Inc.
Key Topics Covered:
1. Methodology and Scope
2. Executive Summary
3. Industrial IoT Industry Outlook
4. Industrial IoT Component Estimates & Trend Analysis
5. Industrial IoT End-Use Estimates & Trend Analysis
6. Industrial IoT Regional Estimates & Trend Analysis
7. Competitive Landscape
For more information about this report visit http://www.researchandmarkets.com/research/6csmh2/industrial
Research and Markets
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Related Topics: Internet of Things and M2M