Global IIoT Platform Market
The GMI Research foresees an expansion in the IIoT Platform Market over the forecast period due to the increasing need of centralized supervision of assets. The surge in the research and development activities has further strengthened the IIoT Platform Market Size.
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IIoT Platform Market Dynamics
The augmenting demand for Internet of Things connected devices has stimulated the demand for global IIoT platform market. The increase in industry 4.0 mechanisation because of the rapid industrialisation has impelled the market growth. For example, as per the We Forum Organization Report published in 2019, approximately 21 billion IoT-connected devices were sold and will reach to 41 billion because of the acceleration penetration of sophisticated technology in the industry.
The increasing endorsement and introduction of the progressive technology-based IIoT platforms by the major players will strengthen the IIoT platform market growth. For instance, IBM, Siemens, and Red Hat, in 2019, merged to introduce a hybrid cloud initiative to raise the real-time value of industrial IoT data. This hybrid cloud platform helps to offer a more safe and flexible solution for producers and plant operators to steer real-time value from functional data. Further, as per the IIOT Platform Market Research Report, the increasing acquisition of next-generation technologies, such as IoT and AI for predictive maintenance in the industry has paved the way for Global IIoT Platform Market.
However, the excessive capital cost required for adequate training and skills will hinder the market demand. Thus, the insufficient operational and IT competent workforce for efficient usage of IIoT platforms to control the connection and IoT devices may further curb the Global IIoT Platform Market Size.
IIoT Platform Market Segmentation:
Segmentation by Platforms
• Application Enablement
• Device Management
• Connectivity Management
• Services
Segmentation by Application
• Predictive Maintenance
• Automation Control
Segmentation by End-User
• Logistics and transportation
• Machine manufacturing
• Automotive
• Semiconductors and electronics
• Healthcare
• Others
Segmentation by Region:
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• North America
o United States of America
o Canada
• RoW
o UAE
o Brazil
o South Africa
o Saudi Arabia
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