$91.4 Billion IIoT Market by Device & Technology, Software, Vertical and Geography - Global Forecast to 2023 - ResearchAndMarkets.com

DUBLIN--()--The "IIoT Market by Device & Technology (Sensor, RFID, Industrial Robotics, DCS, Condition Monitoring, Smart Meter, Camera System, Networking Technology), Software (PLM, MES, SCADA), Vertical, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The IIoT market is expected to grow from USD 64 billion in 2018 to USD 91.4 billion by 2023, at a CAGR of 7.39% during the forecast period.

The IIoT market for smart beacons is expected to grow at the highest CAGR between 2018 and 2023. Increasing demand for automation technologies in the retail vertical to enable faster checkout and enhance overall customer experience is driving the growth of the market for smart beacons.

The agriculture vertical is also a major beneficiary of IIoT solutions, owing to the availability of precision farming solutions. Initial investments in precision farming are very high; however, when carried out on a large scale, precision farming enables farmers to produce greater yield and make efficient use of the available natural resources. The IIoT market for the agriculture vertical is likely to grow at the highest CAGR between 2018 and 2023.

Governments in countries such as Germany, the UK, France, the US, China, and India have taken several initiatives for encouraging manufacturers to increase their investments for the adoption of IIoT solutions. The manufacturing vertical is expected to hold the largest share of the IIoT market in 2018.

Market Dynamics

Drivers

  • Technological Advancements in Semiconductor and Electronics Devices
  • Increasing Use of Cloud Computing Platform
  • Standardization of IPv6
  • Support From Governments Worldwide
  • Decreasing Cost Automation Systems

Restraints

  • Lack of Standardization
  • Legacy Equipment
  • Lack of Skilled Workforce

Opportunities

  • Predictive Maintenance
  • Increasing Number of Data Centers
  • Innovative Cross Domain Applications and Development of Comprehensive System Solutions

Challenges

  • Data Security and Privacy
  • Maintenance and Updates

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 IIoT Market, By Technology

8 IIoT Market, By Software

9 IIoT Market, By Vertical

10 Geographic Analysis

11 Competitive Landscape

12 Company Profiles

  • ABB
  • ARM
  • Bosch
  • Cisco
  • Dassault Systemes
  • GE
  • Honeywell
  • Huawei
  • IBM
  • Intel
  • Kuka
  • NEC
  • PTC
  • Rockwell Automation
  • Siemens
  • Texas Instruments

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Related Topics: Internet of Things and M2M

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Internet of Things and M2M