Industrial Internet of Things (IIoT) Market - Forecast(2019 - 2024)

Report Code: ESR 0027 Report Format: PDF + Excel (Delivery in 48 Hrs)
IIoT Market Overview

Internet of Things (IoT) platforms allow industries to reduce cost through improved process efficiency, asset utilization, and improved productivity. Industrial Internet of things (IIoT) is a concept that alludes to the bridging of all the machines or equipment. It includes big data, machine learning, and machine to machine communication, including all the automated mechanisms involved in the processes. IIoT has the potential to fill the gaps in the efficiency and performance of any industrial process, and offer better results in terms of revenue, output, and production. The IIoT market is estimated to grow at a CAGR of 24.4% during the forecast period 2018–2023. APAC is projected to be the fastest growing market in the geography segment.

IIoT Market Outlook

The Internet of Things is the concept of connecting any device to the Internet and other connected devices. This technology connects data using embedded sensors, processors, and communication hardware. IIoT has applications in various industries such as automotive, energy, healthcare, transportation, manufacturing, oil and gas, agriculture and forestry, medical industry, and others. According to IndustryARC findings, the manufacturing industry vertical is projected to hold the major share of the IIoT market in the industry vertical segment during the forecast period 2018–2023.

IIoT Market Growth Drivers

Growing support from countries around the world in the adoption of the IoT in the industrial sector to help achieve better productivity is a major growth driver for the IIoT market. Increasing adoption of IoT in the manufacturing sector can be attributed to the advantages offered by the technology in terms of reduced operational costs. Additionally, availability of wireless connectivity at lower costs is also spurring the adoption of IoT in various industry verticals.

IIoT Market Challenges 

Despite strong growth factors, the market for IIoT is faced with challenges in the form of data security concerns and high initial costs of investments. Considering the large amount of data that is retrieved by the IoT connected systems, the manufacturers have concerns about data collection and sharing activities. This poses a severe threat to the growth of the IIoT market. Additionally, the high costs of investments in terms of connected devices and systems continue to pose severe challenges for the market, especially in the price sensitive markets.  


Industrial Internet of Things Market

IIoT Market Research Scope

The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the IIoT market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. 

IIoT Market Report: Industry Coverage

By Component - Transmitters, Memory, Processors, Networking Components, Battery Management, Device and Equipment, Cameras Systems, RFID, Others

By Connectivity - Wired Technologies, Wireless Technologies, Fieldbus Technologies

By Service – System Integration, IoT Data Management, Network Management Services, Device Management Services, Cyber Security Services, Others

By Software - Application Specific, Middleware & APIs, Data Analytics, Data Visualization, Cloud Platforms, Security, Others

By Industry Vertical – Energy, HealthCare, Transportation, Manufacturing, Oil & Gas, Agriculture and Forestry, Chemicals, Supply Chain Visibility, Others

The IIoT market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

  • The Americas: The U.S., Brazil, Canada, Others
  • Europe: The U.K., Germany, France, and others
  • APAC: Japan, China, South Korea, and others
  • Rest of the World: The Middle East and Africa

IIoT Market Key Players 

Some of the key players mentioned in this report are Intel Corporation (U.S.), ARM (U.K.), Atmel (U.S.), Synopsys (U.S), Melexis (Belgium), and others.
IIoT Market Trends
The logistics industry is moving towards digital transformation, with IoT-based solutions used along with robotics, automation, and machine learning to transform the way goods are manufactured, stored and delivered. Thus, the companies that proactively invest in these technologies will be able to operate more securely and profitably across the supply chain. 

Singapore recently saw the roll-out of the Narrowband IoT (NB-IoT) network backed by Telco's body GSMA. The project is set to be a turning point for the country’s Smart Nation initiative and digital transformation.

Key Questions Addressed in the IIoT Market Report

1. Is the market for IIoT growing? How long will it continue to grow and at what rate? 
2. Is there a possibility for change in the market structure over time? 
3. Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands? 
4. Do the key vendors look for partnerships to expand their businesses with respect to geography or product? 
5. What is the current status of the IIoT Market in different countries? 
6. Which are the major relevant product segments within IIoT? 
7. What are the short-term, long-term, and medium-term growth drivers for the market? 
8. What are the short-term, medium-term, and long-term challenges for the market? 
9. What are the short-term, medium-term, and long-term opportunities for the market? 
10. Who are the top players/companies of the market? 
11. What are the recent innovations in the market? 
12. How many patents have been filed by the leading players? 
13. What are the types of patents filed by the leading players? 
14. What is the futuristic scenario for the adoption of IIoT? 
15. What is our Vision 2030 for the IIoT Market?

A few focus points of this Research are given below:

  • Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
  • Provide an overview of the product portfolio, including product planning, development, and positioning
  • Discuss the role of technology companies in partnerships
  • Explore the regional sales activities
  • Analyze the market size and give the forecast for current and future of IIoT during the forecast period 2018–2023
  • Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures

IndustryARC Research Best Practices

The IIoT market size is evaluated based on the number of products per organization type along with the varying price points pertaining to specific applications. These were identified as key informational conjectures for market estimation in 2017/2018.

The IIoT Market share is thoroughly checked against all data points that have been incorporated and rechecked against various data sources. Various C-level executives and key opinion leaders are contacted for verification of the data.

The IIoT Market forecast and growth rate are achieved by applying the time series forecasting methodology on the various factors. The market forecast and growth rate are further backed with historical trends of the market along with a regressive mathematical model that assesses the value based on factors such as capital expenditure, equipment lifespan, R&D investments, and so on.

The IIoT Market demand has been researched taking into account the prominent economies across the different geographic regions to understand their corresponding impact on the market.

The IIoT Market drivers are evaluated for short-term, medium-term, and long-term based on the different market dynamics impacting the market.

The IIoT Market challenges are evaluated for short-term, medium-term, and long-term based on the different market dynamics impacting the market.

The IIoT Market trends have been analyzed taking into consideration the micro and macro trends prevalent in various geographies.

The IIoT Market outlook provides a brief overview of the market performance and anticipated change in market dynamics. 

The IIoT Market analysis also involves the identification of new companies that have entered the market scenario and their impact on the market dynamics in the future. 
1. IIoT Market – Market Overview 
    1.1. Definitions and Scope 
2. IIoT Market – Executive Summary 
    2.1. Market Revenue, Market Size and Key Trends by Company 
    2.2. Key Trends by Type of Application 
    2.3. Key Trends Segmented by Geography 
3. IIoT Market – Market Landscape
    3.1. Market Share Analysis
    3.2. Comparative analysis 
        3.2.1. Product Benchmarking – Top 10 Companies 
        3.2.2. Top 5 Financials Analysis 
        3.2.3. Market Value Split by Top 10 Companies 
        3.2.4. Patent Analysis – Top 10 Companies 
4. IIoT Market — Market Forces 
    4.1. Market Drivers 
    4.2. Market Constraints  and Challenges 
    4.3. Attractiveness of the market
        4.3.1. Bargaining Power of Suppliers 
        4.3.2. Bargaining Power of Customers 
        4.3.3. Threat of New Entrants 
        4.3.4. Threat of Substitutes 
        4.3.5. Degree of Competition
5. IIoT Market – Strategic Analysis 
    5.1. Value Chain Analysis 
    5.2. Opportunities Analysis 
    5.3. Product Life Cycle/Market Life Cycle Analysis
    5.4. Suppliers and Distributors
6. Control Valves Market – By Component
    6.1. Segment Type Size and Market Share Analysis 
    6.2. Application Revenue and Trend by Component
    6.3. Product  Segment Analysis by Component
        6.3.1. Transmitters
        6.3.2. Memory
                6.3.2.1. DRAM
                6.3.2.2. NAND Flash
                6.3.2.3. Memory Cards
                6.3.2.4. Multichip Packages
                6.3.2.5. NOR Flash
                6.3.2.6. Industrial SSDs
                6.3.2.7. Others
        6.3.3. Processors
        6.3.4. Networking Components
                6.3.4.1. Gateway & Routers
                6.3.4.2. Others
        6.3.5. Battery Management
                6.3.5.1. Power Supply
                6.3.5.2. Thin Film and Printed Batteries
                6.3.5.3. Energy Harvesting Modules
                6.3.5.4. Photovoltaic Panels
                6.3.5.5. Thermoelectric Sources
                6.3.5.6. Others
        6.3.6. Device and Equipment
                6.3.6.1. Tracking Devices
                6.3.6.2. Handheld Scanners
                6.3.6.3. Others
        6.3.7.  Cameras Systems
        6.3.8.  RFID
        6.3.9.  Control Systems
        6.3.10. Camera systems
        6.3.11. Yield Monitors
        6.3.12. Robotics & Drones
        6.3.13. Sensors & Actuators
                6.3.13.1. Vibration
                6.3.13.2. Temperature
                6.3.13.3. Pressure
                6.3.13.4. Heat
                6.3.13.5. Position
                6.3.13.6. Others
        6.3.14. Display & Monitors
        6.3.15. Others
7. IIoT Market – By Connectivity (Market Size – $Million/$Billion)
    7.1. Segment Type Size and Market Share Analysis 
    7.2. Application Revenue and Trend by Component
    7.3. Product  Segment Analysis by Component
        7.3.1. Wired Technologies
                7.3.1.1. Ethernet
                7.3.1.2.  Modbus-TCP
                7.3.1.3. Profinet
                7.3.1.4. EtherCAT
                7.3.1.5. Others
        7.3.2. Wireless Technologies
                7.3.2.1. Wi-Fi
                7.3.2.2. Bluetooth Low Energy (BLE)
                7.3.2.3. Others
        7.3.3. Fieldbus Technologies
                7.3.3.1. Profibus
                7.3.3.2. Modbus-RTU
                7.3.3.3. CC-Link
                7.3.3.4. Others
8. IIoT Market – By Software (Market Size – $Million/$Billion)
    8.1. Segment Type Size and Market Share Analysis 
    8.2. Application Revenue and Trend by Component
    8.3. Product  Segment Analysis by Component
        8.3.1. Application Specific
                8.3.1.1. Asset Performance Management
                8.3.1.2. Operations Performance Management
                8.3.1.3. Field Service Management
                8.3.1.4. Manufacturing Solutions
                8.3.1.5. Others
        8.3.2. Middleware & APIs
        8.3.3. Data Analytics
        8.3.4. Data Visualization
        8.3.5. Cloud Platforms
        8.3.6. Security
        8.3.7. Others
9. IIoT Market – By Service (Market Size – $Million/$Billion)
    9.1. Segment Type Size and Market Share Analysis 
    9.2. Application Revenue and Trends by Application Type
    9.3. Application Segment Analysis by Type
        9.3.1. System Integration
        9.3.2. IoT Data Management
        9.3.3. Network Management Services
        9.3.4. Device Management Services
        9.3.5. Cyber Security Services
        9.3.6. Others
10. IIoT Market – By Solution (Market Size – $Million/$Billion)
    10.1. Segment Type Size and Market Share Analysis 
    10.2. Application Revenue and Trends by Application Type
    10.3. Application Segment Analysis by Type
        10.3.1. Component
        10.3.2. Network Connectivity
        10.3.3. Software
        10.3.4. Services
11. IIoT Market – By Industry Vertical (Market Size – $Million/$Billion)
    11.1. Segment Type Size and Market Share Analysis 
    11.2. Application Revenue and Trends by Application Type
    11.3. Application Segment Analysis by Type
        11.3.1. Energy
                11.3.1.1. Smart metering
                11.3.1.2. Smart Lighting
                11.3.1.3. Smart Grid Asset Monitoring
                11.3.1.4. Remote Infrastructure
                11.3.1.5. Fault Detection
                11.3.1.6. Energy Management & Maintenance
        11.3.2. HealthCare
                11.3.2.1. Electronic Healthcare Record
                11.3.2.2. Remote Health Monitoring
                11.3.2.3. Connected Healthcare facilities
                11.3.2.4. Centralized patient & hospital system Monitoring
                11.3.2.5. Robotics
                11.3.2.6. Biosensor
                11.3.2.7. Trackers & Fitness Bands
                11.3.2.8. Smart Bed
                11.3.2.9. Smart Pills
                11.3.2.10. Predictive Medicine
                11.3.2.11. Others
        11.3.3. Transportation
                11.3.3.1. Logistics
                11.3.3.2. Asset & Freight Tracking
                11.3.3.3. Predictive Asset Maintenance
                11.3.3.4. Remote Fleet Monitoring
                11.3.3.5. Warehouse Capacity Optimization
                11.3.3.6. Route Optimization
                11.3.3.7. Transportation Infrastructure
                11.3.3.8. Intelligent Traffic Monitoring & Control
                11.3.3.9. Parking & Ticketing Management
                11.3.3.10. Others
        11.3.4. Manufacturing
                11.3.4.1. Manufacturing Operations Management
                        11.3.4.1.1. Asset management
                        11.3.4.1.2. Intelligent manufacturing
                        11.3.4.1.3. Performance optimization and monitoring
                        11.3.4.1.4. Inventory Management
                        11.3.4.1.5. Human machine interaction
                        11.3.4.1.6. Others
                11.3.4.2. Production asset management & Maintenance
                        11.3.4.2.1. Production asset monitoring and tracking
                        11.3.4.2.2. Facility Safety & Security
                        11.3.4.2.3. Quality Control
                        11.3.4.2.4. Packing Optimization
                11.3.4.3. Field Service & Diagnostic
                11.3.4.4. Fault Detection & Maintenance
                11.3.4.5. Predictive & Proactive Maintenance
                11.3.4.6. Condition Monitoring
                11.3.4.7. Facility Management
                11.3.4.8. Asset and Resource Optimization
                11.3.4.9. Remote Diagnosis
                11.3.4.10. Logistics & Supply Chain Optimization
        11.3.5. Oil & Gas
                11.3.5.1. Upstream
                11.3.5.2. Mid-Stream
                        11.3.5.2.1. Connecting pipeline networks
                        11.3.5.2.2. Leak detection
                        11.3.5.2.3. Storage
                        11.3.5.2.4. Safety and Alarms
        11.3.6. Downstream
                11.3.6.1. Refinery Crude oil Management
                11.3.6.2. Facility Management
                11.3.6.3. Others
        11.3.7. Agriculture and Forestry
                11.3.7.1. Farm vehicle tracking
                11.3.7.2. Livestock Monitoring
                11.3.7.3. Conservation monitoring
                11.3.7.4. Storage Monitoring
                11.3.7.5. Precision Framing
                        11.3.7.5.1. Plant & soil monitoring
                        11.3.7.5.2. Yield Monitoring
                        11.3.7.5.3. Field Mapping
                        11.3.7.5.4. Crop Scouting 
                        11.3.7.5.5. Weather Tracking & Forecasting 
                        11.3.7.5.6. Irrigation Management 
                        11.3.7.5.7. Inventory Management 
                        11.3.7.5.8. Others
        11.3.8. Chemicals
                11.3.8.1.1. Equipment monitoring and predictive analytics
                11.3.8.1.2. Energy management
                11.3.8.1.3. Process management and control
                11.3.8.1.4. Safety management
                11.3.8.1.5. Production simulation
                11.3.8.1.6. Supply chain visibility
        11.3.9. Others
12. IIoT Market – By Geography (Market Size – $Million/$Billion)
    12.1. IIoT - Americas Segment Research
    12.2. Americas Market Research (Market Size – $Million/$Billion)
        12.2.1. Segment type Size and Market Size Analysis 
        12.2.2. Revenue and Trends
        12.2.3. Application Revenue and Trends by Type of Application
        12.2.4. Company Revenue and Product Analysis
        12.2.5. Americas Product type and Application Market Size
                12.2.5.1. U.S
                12.2.5.2. Canada
                12.2.5.3. Mexico
                12.2.5.4. Brazil
                12.2.5.5. Argentina
                12.2.5.6. Others
    12.3. IIoT - Europe Segment Research
    12.4. Europe Market Research (Market Size – $Million/$Billion)
        12.4.1. Segment Type Size and Market Size Analysis 
        12.4.2. Revenue and Trends
        12.4.3. Application Revenue and Trends by type of Application
        12.4.4. Company Revenue and Product Analysis
        12.4.5. Europe Segment Product type and Application Market Size
                12.4.5.1. U.K.
                12.4.5.2. Germany
                12.4.5.3. France
                12.4.5.4. Italy
                12.4.5.5. Spain
                12.4.5.6. Rest of Europe
    12.5. IIoT – APAC Segment Research
    12.6. APAC Market Research (Market Size – $Million/$Billion)
        12.6.1. Segment Type Size and Market Size Analysis 
        12.6.2. Revenue and Trends
        12.6.3. Application Revenue and Trends by Type of Application
        12.6.4. Company Revenue and Product Analysis
        12.6.5. APAC Segment – Product type and Application Market Size
                12.6.5.1. Japan
                12.6.5.2. China
                12.6.5.3. South Korea
                12.6.5.4. India
                12.6.5.5. Australia and New Zealand
                12.6.5.6. Rest of APAC
    12.7. IIoT – RoW Segment Research
    12.8. RoW Market Research (Market Size – $Million/$Billion)
        12.8.1. Segment Type Size and Market Size Analysis 
        12.8.2. Revenue and Trends
        12.8.3. Application Revenue and Trends by Type of Application
        12.8.4. Company Revenue and Product Analysis
        12.8.5. RoW Segment – Product type and Application Market Size
                12.8.5.1. Middle East
                12.8.5.2. Africa
13. IIoT Market — Market Entropy 
    13.1. New Product Launches 
    13.2. M&As, Collaborations, JVs and Partnerships 
14. IIoT Market – Industry/Segment Competition Landscape 
    14.1. Market Share Analysis 
    14.2. Best Practices for Companies  
15. IIoT Market Company Analysis 
    15.1. Market Share, Company Revenue, Products, M&As, Developments 
        15.1.1. Intel Corporation 
        15.1.2. ARM
        15.1.3. Atmel
        15.1.4. Synopsys
        15.1.5. Melexis
        15.1.6. Cisco Systems, Inc. 
        15.1.7. General Electric
        15.1.8. Rockwell Automation, Inc. 
        15.1.9. ABB 
        15.1.10. Huawei
        15.1.11. Company 11
        15.1.12. Company 12 and more
*”Financials of private companies will be provided on a best-efforts basis" 
16. IIoT Market – Appendix 
    16.1. Abbreviations 
    16.2. Sources 
17. IIoT Market – Research Methodology 
    17.1. Research Methodology 
        17.1.1. Company Expert Interviews 
        17.1.2. Industry Databases 
        17.1.3. Associations 
        17.1.4. Company News 
        17.1.5. Company Annual Reports 
        17.1.6. Application Trends 
        17.1.7. New Products and Product Database 
        17.1.8. Company Transcripts 
        17.1.9. R&D Trends 
        17.1.10. Key Opinion Leaders Interviews 
        17.1.11. Supply and Demand Trends
List of Tables

Table 1 Industrial Internet of Things Market – Major Features
Table 2 Differences Between Wireless and Wired Networks
Table 3 IoT Standards and Protocols
Table 4 Real Time Comparison of Various Real- Time Technologies
Table 5 Power Classes of Bluetooth Transmitters
Table 6 Industrial Internet of Things Market: 20 Best Data Analytics Software Systems
Table 7 Primary Sources: Industrial Internet of Things Market (Partial List)
Table 8 Secondary Sources: Industrial Internet of Things Market (Partial List)

List of Figure

Figure 1 GEOGRAPHY – MARKET DATA
Figure 2 BY INDUSTRY VERTICAL – MARKET DATA
Figure 3 Industrial Internet of Things Revenue Share, By Company, 2018 (%)
Figure 4 Industrial Internet of Things Platform Revenue Share, By Company, 2018 (%)
Figure 5 Industrial Internet of Things Communication Revenue Share, By Company, 2018 (%)
Figure 6 Industrial Internet of Things Market, Number of Patents, 2014–2018*
Figure 7 Industrial Internet of Things Market, Number of Patents, By Country, 2014–2018*
Figure 8 Siemens Company
Figure 9 ABB Group
Figure 10 Schneider Electric
Figure 11 General Electric 
Figure 12 Rockwell Automation Inc.
Figure 13 EPS, By Company, 2015–2018 ($/Share)
Figure 14 Global Investments on Clean Energy, 2010 – 2018 ($Bn)
Figure 15 Optimize Return on Investment (ROI) from Disparate Sources of Value.
Figure 16 Global, Industrial Digitalization Solutions, By End User Industry, 2018 (%) 
Figure 17 Global IoT Connected Devices Installed Base, 2015-2018, (Billion Units) 
Figure 18 The Declining Price Trend of IoT Sensors, 2013–2019 ($) 
Figure 19 Number of Cyber Security Incidents in India 2014–2018
Figure 20 IIoT Challenges, 2018 (%)
Figure 21 Industrial Internet of Things (IIoT) Value Chain 
Figure 22 Global Industrial Fog Computing Market, 2018-2022 ($m)
Figure 23 Industrial Internet Of Things Market Growth Rate- By COMPONENT, 2019-2024 (%)
Figure 24 Sensors & Actuators Market Revenue 2018, ($M)
Figure 25 Sensors & Actuators, By Types Market Revenue 2018, ($M)
Figure 26 Display & Monitors Market Revenue 2018, ($M)
Figure 27 Others: By Component Market Revenue 2018, ($M)
Figure 28 Industrial Internet of Things Market Growth Rate- By Connectivity, 2018–2023 (%)
Figure 29CC-Link IE Communication Programming
Figure 30 Industrial Internet of Things Market, Growth Rate - By Software, 2018–2023 (%)
Figure 31 Industrial Internet of Things Market: Asset Performance Management (APM) 
Figure 32 Industrial Internet of Things Market: Middleware Services
Figure 33 Industrial Internet of Things Market: 10 Best Data Visualization Software
Figure 34 Industrial Internet of Things Market: Three Points of Cloud Platform for IaaS
Figure 35 Industrial Internet of Things Market: Six Principles of IoT Cyber Security
Figure 36 Industrial Internet of Things Market Growth Rate- By Services, 2019-2024 (%)
Figure 37 IIoT Market Growth Rate- By Application, 2019-2024 (%)
Figure 38 Benefits of IIoT – The Industrial Internet of Things Drivers
Figure 39 Most IoT Adopted Industry, Revenue (%)
Figure 40 Line Performance Optimization
Figure 41 Manufacturers Deploying IoT Tech
Figure 42 Organizations deploying IoT in operation for monitoring, smart metering, renewable plants supervision, and inventory intelligence
Figure 43 Failure mode or asset/machine/ component needs prognostics and health management
Figure 44 Typical maintenance budget divisions in the manufacturing industry 
Figure 45 Estimated spending on Connected Logistics Solution (2015–2018), USD (Billions)
Figure 46 Investments, Oil and Gas Industry, 2015-2018 ($Bn)
Figure 47 Midstream Activities
Figure 48 Downstream Activities
Figure 49 Global Share of IIoT Projects in Agriculture(%)
Figure 50 PRECISION FARMING REVENUE SHARE, 2018 (%)
Figure 51 Chemicals Industry, Revenue, By Country, 2018 (%)
Figure 52 Projected Europe IoT's GDP Impact by sector, 2025 
Figure 53 Revenue Generated, IoTs, In m (2018)
Figure 54 Top 10 IoT segments, 2018
Figure 55 IIOT Market CAGR, By Europe, 2019-2024 (%)
Figure 56 IoT Spending Forecast, By Industry, 2019
Figure 57 Chemical Market Size Breakdown
Figure 58 Breakdown of Primary Interviews, By Designation, %
Figure 59 Breakdown of Primary Interviews, By Region, %