IIoT Platform Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

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IIoT Platform Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

Status : January, 2023 | Technology & Media

Report Digest

IIoT Platform Overview

IIoT platform is not as well-anchored IT concept as its counterpart IoT is, despite the proliferating use cases of such platforms in industrial environments. The ambit of functional ends IIoT platforms help to manage is also wide: they help bring value to the way inventories are used and managed in operating environments for any business. They are more akin to all those hardware and software that help connect workforce or laboSr with process control systems through the use of smart sensors, edge devices, HMIs, and IoT-based IT systems. They usually work on middle layer in industrial processes. Benefits of employing or deploying IIoT are realized on multiple levels: machine to machine communication in shop floors, software as a services for different production layouts, and process optimization.

The study on the IIoT platforms offers a careful and data-science driven scrutiny of various key consumer propositions, key drivers and challenges, winning imperatives for top players, and opportunities in different segments.

IIoT Platform Market: Key Trends

Proliferation of IoT devices and the popularity of IoT frameworks to support automation in industrial processes are key underpinnings for the expansion of the IIoT platforms market. Growing role of IIoT platforms in supporting business models is a key driver for growth prospects, particularly in monitoring production processes.  Some of the aspects where IIoT platforms market players are unlocking higher business value among users are overall operational efficiency (OEE), predictive maintenance, and equipment monitoring. They enable users to easily integrate with numerous legacy manufacturing protocols.

The growing popularity of cloud services is a key trend in the IIoT platforms market. In recent years, these services have been increasingly adopting machine learning and edge computing for not just improving industrial production processes, but for enhanced safety of workers.

IIoT Platform Market: Competitive Dynamics and Key Developments

A growing number of developers and service providers in the IIoT platforms market are leaning on expanding their portfolio of software and solutions that can be integrated with the overall enterprise system. Top players are leveraging data analytics to offer clients IS frameworks that can help them optimize assets. A growing number of companies are growing their stake sin OPC (Open Platform Communications) Unified Architecture to unlock higher customer value. However, players have to work toward overcoming the challenges of full cloud deployments in industrial environments. Moreover, there exists several constraints related to the privacy and security of data used in IoT-driven services in industrial environments.

On the other hand, several companies are focusing on tailoring their offerings to meet the specific needs of businesses, such as varying their function for oil and gas industry or medical device manufacturing.

Some of the key players in the IIoT platforms market are;

  • IBM
  • Cisco
  • Intel, Siemens
  • SAP
  • Bosch
  • Amazon Web Services
  • Oracle Corporation
  • Hitachi, Ltd.
  • Litmus Automation Inc.
  • Microsoft Corporation.

IIoT Platform Market: Regional Assessment

Some of the geographies that can generate substantial revenues in the IIoT platforms market are North America, Europe, and Asia Pacific. Aspects that pertain to IoT operating systems are seeing vast developments in North America, cementing high growth potential. The rising adoption of IIoT in various manufacturing environments in numerous emerging economies of Asia Pacific make that a potentially lucrative region in the global IIoT platforms market.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?