“INDUSTRIE 4.0 connects embedded system production technologies and smart production processes to pave the way to a new technological age which will radically transform industry and production value chains and business models.” —Germany Trade and Invest
Sponsored by the Germany government, industry 4.0 is constantly contributing to the adoption of the industrial Internet of things (IIoT) in the manufacturing sector. The increased use of the industrial Internet of things can be seen in machines which can start off maintenance processes autonomously as well as machines which can predict failures. With further development of IIoT, security concerns are rising. Cybercrimes are one of the biggest threats that the world is facing, and any device or component connected to the IIoT can be a potential victim of the security breach. The existing inferior cybersecurity measures are failing massively paving way for IIoT shields. Security architectures are moving towards software-based or device-agnostic designs which are directly contributing to the growth of the industrial Internet of things shields market. As of 2018, IIoT shields market rested at a revenue of around $2.35 billion, which is going to grow further at a profitable CAGR of 18.65% over the forecast period 2019-2025.
The Industrial Internet of things is developing regularly due to support from countries across the globe in order to attain better productivity with an efficient performance by reducing operational cost. The is expanding regularly and is expected to grow at a healthy CAGR of 24.4% during the forecast period 2018–2023. Thus, with the growth of the parent market, there will be an increasing concern for security, which will result in the multiplication of the IIoT shields market revenue.
Spurring IIoT Shields Market in APAC
The outgrowing revolution in various industries such as logistics, healthcare, manufacturing, agriculture, and others is making way for R&D in infrastructure related to IoT technology. Countries like China, India, Japan, and others are constantly working on IIoT for achieving a green economy and sustainable goals. This is resulting in further research to preserve it without any security breach and so IIoT Shields Market is growing in APAC. As of 2018, APAC held the largest industrial Internet of things shields market share with almost 42.18% of the global market.
· Flourishing Agriculture Industry to Give Impeccable Returns to the APAC Industrial Internet of Things Market Players –
Agriculture is one of the most important sectors in Asia. According to the reports of APAC Agrifood, APAC has a population count of 4.5 billion and the food increases needed to suffice for the people is 70%. The implementation of IIoT is inevitable as they help in increasing productivity by self-driven tractors, harvesters, and others. By analyzing the components in liquid through the deployed sensors, industrial IIoT ensures that spraying is done in the right amounts. These developing low-power and reliable harvesting technologies are creating huge opportunities for secure and efficient communication with IIoT shield mechanisms, resulting in the upliftment of the APAC industrial Internet of things shield market in the upcoming years.
· Expanding APAC IIoT Shields Market to Bring an Impact on Oil and Gas Production Across Countries –
Lately, the oil and gas industry had hit a roadblock due to the shortage of skilled labors, and thus, the production cost is rising annually. The environmental standards are equally adding up to the problems and affecting the industry in terms of investments. The reports of the International Association of Oil &Gas Producers, Asia Pacific produced around 23% oil and 79% gas in 2018. The aforementioned challenges have made the application of industrial IoT a necessary as the technology brings a number of advantages to the table. From safety management, leak detection to facility management, predictive maintenance, everything operates on IIoT. With the implementation of IIoT, the application of Industrial IoT shields becomes inevitable as it offers embedded device level security and control across the entire IoT chain. Thus, with the growth of IIoT in the oil and gas industry, the IIoT shields market is also going to witness further expansion in the next years.
Industrial IoT Shields Market: Key Application
One of the major end users of industrial IoT shields technology is the manufacturing industry. The gradual shift towards advanced and secured manufacturing techniques across the world is constantly adding up to the implementation of industrial IoT shields technology in the manufacturing industry. The is slowly making its way into the manufacturing sector across various industry verticals, as it gives an increased production rate with decreased labor investment in a secure way. The has collected revenue avenue of around $5 billion in 2018, and the demand for the same is projected to grow at a notable CAGR of 12% during the forecast period 2019-2025. So, the growth of industrial and factory automation is set to benefit the industrial IoT shields market vendors in the upcoming years. The implementation of IIoT in manufacturing industry is expected to grow at a profitable CAGR of 20.88%, paving multifarious opportunities to the end-user market vendors.
IIoT Shields Market Growth Drivers –
Industrial IoT shields make easy for system integrators to fill the security gap and ensure rapid deployment. Asia, Latin America, and other countries are facing the need to fabricate quality products to compete in the global market which is making way to the adoption of advanced industrial IoT shields techniques quickly worldwide.
· Implementation of 5G Across the Globe to Elevate IIoT Shields Market Revenue –
5G is an enabler for the critical Fourth Industrial Revolution. The countries that are looking to capitalize through future technology, 5G is the key for them. Therefore, with the emergence of 5G, global IP traffic is surely to triple in 2017-2022. The Internet of things, which utilizes low-latency networks as well as ultra-high-speed, will require capacities enabled by 5G. So, with the growth of 5G, IIoT is also expected to see potential heightening with IIoT shields flourishing in the upcoming years.
· Increasing Smart Meters Technology to Fuel the Industrial IoT Shields Market –
The numerous advantages of the Industrial IoT Shields, they are being extensively used in the energy sector. The incorporation of sensors to stop the wastage of the majority of the energy used in an average building can be easily kept in check and also prevented by IoT. Due to the advent of smart meters, the use of IoT is rising. As per the reports of “The Campaign for a Smart Britain,” almost 53 million smart meters will be implemented in over 30 million premises, including households and businesses across England, Scotland, and Wales by the end of 2020. These statistics are evidence of the rising demand of IoT, which directly makes the IIoT shields implementation unavoidable, as they can stop the breaching of security in these smart meters.
· Strengthening Growth in Freight Transport to Reap Financial Rewards to the Industrial Internet of Things Shields Market Vendors –
With R&D, penetration of IIoT in the transportation sector has been increased along with safety and reliability. The growth of the e-retail sector is also driving the entrance of IIoT shields into the transportation sector. As per the estimations of International Transport Forum, World container traffic and air freight increased by 4.8% and 9% respectively in 2017. These statistics attribute to the growth in freight transport that is contributing to the industrial IoT shields market, as they can easily stop the miscommunication or misplacement of various packages that get delivered from one place to the other.
Industrial IoT Shields Market: Competitive Landscape
The major market forces who are currently holding maximum shares in the industrial internet of things (IoT) shields market are Maxim Integrated (U.S.), STMicroelectronics (Switzerland), Arduino (U.S.), ARM Architecture, Robert Bosch GmbH, Cisco Systems, Inc., Hewlett Packard Enterprise (HPE), International Business Machines Corporation (IBM), Intel Corporation, Microsoft Corporation, Oracle Corporation, Qualcomm Incorporated, Rockwell Automation, Inc., Samsung, Texas Instruments Inc., and Verizon Wireless.
Ø Innovation by Major Market Players –
· In July, 2018, GE and Microsoft Corporation announced to enter into their largest partnership till date that would accelerate industrial IoT adoption for customers.
· In April 2018, Qualcomm Incorporated announced the launch two new systems-on-a-chip, called the QCS605 and QCS603, for IoT. These chips will merge Qualcomm’s AI and image signal processor with a multicore ARM processor.
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