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 : June, 2021 | 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.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?