Industrial IoT Market Research Report - Global Forecast to 2023

Market Scenario The global industrial internet of things market is anticipated to touch USD million by 2023, as per an insightful report by Market Research Future (MRFR). It is expected to expand at a 23.88% CAGR during the assessment period ( ). Industrial internet of things (IIoT) is an array of connected devices used in expediting the production process in industrial sectors. It can be used in maximizing efficiency and minimizing wastage of resources. Various industry leaders are implementing IIoT in their processes to expound their current businesses. Government policies such as Make in India, Industrial Value Chain Initiative Forum, and Industry 4.0 can create awareness in industries and influence its adoption rates. Report Sample:

Market Research Analysis: North America is at the forefront of the global industrial IoT market owing to rapid technological progress and early adoption of IoT in the region. Asia-Pacific is projected to capture the highest CAGR during the forecast period, and this growth is supported by various government initiatives and rising investments in the manufacturing sector. Europe market for industrial IoT too seems to hold potential growth opportunities owing to growing automation in manufacturing and energy industry. Browse Complete Report Details:

Scope of the Report: The report offers comprehensive profiles on these market players and assesses their current standing in the industrial IoT market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and latest R&D initiatives are outlined in the report. The segments and sub-segments covered in the report are analyzed under four major regions – North America, Europe, The Middle East and Africa, and Asia Pacific (APAC), with respective country-level market sizing. For the scope of research, the standard definition of “IIoT” is included in the report. The report discusses and interprets the current trends and future opportunities of the market by delivering an unbiased growth assessment.

Key Players: Rockwell Automation, Inc. (U.S.), General Electric Company (U.S.), Intel Corporation (U.S.), Siemens AG (Germany), Huawei Technologies Co. Ltd. (China), Accenture Plc (Ireland), Robert Bosch GmbH (Germany), IBM Corporation (U.S.), AT&T Inc. (U.S.), and Cisco Systems (U.S.) are noteworthy players in the industrial IoT market. Agreements, partnerships, novel product launches, acquisitions, and collaborations are strategies employed by these players to gain a larger share of the market. For instance, Bosch has collaborated with IBM to launch a suite of IoT-based solutions. The major players in this market have adopted the strategies such as geographic expansion, product launch, collaboration, and mergers & acquisitions. The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, the vendors should focus on expanding, geographically and improving the services.

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