Business > Marketing > Internet MarketingIndustrial Internet of Things Market- Global Forecast to 2025
Posted by apeksha in Business on May 30th Jahleel Addae Jersey , 2018
The industrial internet of things is a term used to describe the interconnectivity of industrial processes and manufacturing equipment by adoption of IOT technology. The adoption of sensors in industries have given the birth to industrial IOT market. Sensors help convert information from analog to digital. Data networking and computing power have increased the demand for sensors in the automation industry. Continuous development of sensors technology and adoption of data, computing, and connectivity technology, analytics and artificial intelligent, human machine interaction, and digitalization are major factors driving growth to the industrial IOT market.
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The managed service segment held the dominant position in 2016 and is projected to maintain its dominance throughout the forecast period. Increasing government initiatives towards digitalization and increasing government investments to boost the adoption of IOT technology in various industries such as utilities and manufacturing are expected to drive growth of the IOT market. The professional services segment is expected exhibit the highest CAGR over the forecast period.
The manufacturing segment held a dominant position in 2016. This segment is projected to maintain its dominance throughout the forecast period. The high adoption of wireless connectivity Keenan Allen Jersey , sensors, and software solutions help create communication networks using IP connectivity. This in turn, helps reduce the production cost and time.
Industrial Internet of Things Market Outlook – Asia Pacific holds significant market share
On the basis of geography, the global industrial internet of things market is segmented into North America, Europe, Asia Pacific Melvin Ingram Jersey , Latin America, Middle East, and Africa. North America holds a dominant position in the global industrial internet of things market and is projected to retain its dominance throughout the forecast period. Growing digitalization and high adoption of IOT solutions by manufacturing and automation industries have contributed to growth of the market in North America. Similarly, the Asia Pacific is projected to exhibit the highest CAGR over the forecast period. India, china, Japan Joey Bosa Jersey , and South Korea are some of the major countries that help drive growth of the market for IOT in the Asia Pacific region. Dense population, increasing disposable income, and large scale industrialization in the region are boosting growth of the market. In addition to this, the increasing adoption of digitalization by various industries to reduce the production time and operating costs also create a conducive environment for growth of the industrial IOT market in Asia Pacific.
Key Players in the Global Industrial Internet of Things Market
ABB, ARM Ltd., Cisco Systems Melvin Gordon Jersey , Inc., Dassault Systèmes, General Electric, Honeywell International Inc., Huawei Technology Co., Ltd. Philip Rivers Jersey , Intel Corporation, Rockwell Automation, Inc., and Texas Instruments Inc. are some of the major players in the global industrial internet of things market.
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