Industry Background:
Industrial Internet of Things platforms providing integrated software capabilities. These capabilities help in enhance asset management decision making, and also operational visibility across various industries. Industrial Internet of Things platforms leverages the power of Machine Learning, AI, and Big Data discoveries. An IIoT platform is a combination of real-time data from hardware, software systems, sensors, and others. There are many companies that are investing towards enhancing research and development activities and rapidly enhancing implementing advanced security solutions because of the increase in the occurrence of cyber-attacks on industrial ICS systems. The COVID-19 pandemic boosts the demand for industrial control systems security across the globe because of increase in digitization.
According to AMA Research, the market for IIoT Platform is expected to register a CAGR of 20.3% during the forecast period to 2030. This growth is primarily driven by High Adoption from IIoT Platforms from Large Multinational
.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Internet Software & Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as PTC (United States), Oracle (United States), Microsoft (United States), AWS (United States), IBM (United States), Braincube (France), SAP (Germany), Software AG (Germany), Siemens (Germany), Altizon (United States) and Hitachi Vantara (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In August 2021,Ivanti has acquired an industrial internet of things (IIOT) platform from the WIIO Group. WIIO is one of Ivanti Wavelink’s channel partners and is based in Paris, France.
In Aug 2021, Ivanti announced the acquisition of the IIoT platform from the WIIO Group. Through this initiative, the company has become more competitive in this industry. By acquiring supply chain organization for the future concern.The manufacturers are operating in this industry are expanding their reach across the global market by adopting mergers & acquisitions, expansions, investments, new solution launches, and others. Key players are exploring new areas through expansions and acquisitions across the globe to avail of competitive advantage through combined synergies.
Influencing Trend:
Microsoft and AWS Have Emerged as Fortunes of the Market and Increase in Technology Investment that Removes Many of the Traditional Technological Constraints Imposed on Automation Systems
Market Growth Drivers:
High Adoption from IIoT Platforms from Large Multinational, Development in Business Model and Major Portion of the Growth in the IoT Platforms Market Is Attributed To Rapid Revenue Growth Realized By the Cloud Hyperscalers
Challenges:
Legacy and Outdated System, Lack of Market Awareness and Lack of Utilizing Data
Restraints:
The Slowdown in Economy Because of COVID-19 Pandemic
Opportunities:
Huge Growth in Pricing Strategies by Companies, Growing Demand from the IoT Platforms from Large Size Enterprises and Development in Cloud Technology
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of IIoT Platform Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of IIoT Platform Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of IIoT Platform players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, IIoT Platform Study Sheds Light on
The IIoT Platform Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the IIoT Platform industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where IIoT Platform industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.