7/16/2021 Industrial Internet of Things (IIoT) Market Key Players, Size, Trends, Opportunities and growth Analysis – Facts

alysis – Facts and Trends

Industrial Internet of Things (IIoT) Market Key

Players, Size, Trends, Opportunities and
growth Analysis
JULY 16, 2021 BY SURENDRA CHOUDHARY  ♥

The global market for industrial Internet of Things is fragmented in nature with a high level of
competition among the prominent players over the next few years, states a research study by TMR.
The development of new products and technological advancements in the field are predicted to
offer growth opportunities for the market players in the next few years. The increasing number of
strategic partnerships and collaborations is likely to encourage the growth of the global industrial
Internet of Things Market in the next few years. In addition to this, the rising research and
development activities in this field and the increasing investments are estimated to ensure the
growth of the market in the near future. Some of the prominent players engaged in the industrial
Internet of Things market across the globe are Softweb Solutions Inc., General Electric Company,
Robert Bosch GmbH, Siemens AG, IBM Corporation, Schneider Electric SE, Accenture PLC, ABB
Ltd., Sasken Technologies Ltd., Tech Mahindra Ltd., Emerson Electric, ZIH Corp., Intel Corporation,
and NEC Corporation.

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As per the study by TMR, the global market for industrial Internet of Things market is predicted to
reach a value of US$ 991,562.0 Mn by the end of 2026. The market is expected to register a massive
24.30% CAGR between 2018 and 2026. Geographically, North America is expected to hold a huge
share of the industrial Internet of Things market, thanks to the growing adoption of advanced
automation solutions. In addition to this, the emerging economies in this region is projected to offer
growth opportunities in the coming years.
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7/16/2021 Industrial Internet of Things (IIoT) Market Key Players, Size, Trends, Opportunities and growth Analysis – Facts and Trends

Rising Support from Government to Drive Industrial Internet of Things Market

The Internet of Things has been gaining traction in diverse industries across the globe, thanks to
which the market is estimated to witness high growth in the coming years. The reducing cost of the
automation systems and the increasing support from the government organizations are expected to
support the development of the global industrial Internet of Things market. In addition to this, the
rising focus of the players on technological developments in the electronics and semiconductor
devices, which is projected to ensure the growth of the overall market in the next few years.

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Furthermore, the rise in the use of cloud computing platform is projected to ensure the development
of the global industrial Internet of Things market in the next few years. Also, the rise in the number
of data centers is another key factor that is predicted to ensure the development of the industrial
Internet of Things market across the globe.

Rising Issues of Data Security to Hinder Market Growth in Near Future

The global market for industrial Internet of Things is expected to face a few challenges, which is
likely to hamper the growth of the overall market in the coming few years. The lack of skilled
personnel and the lack of standardization are considered as the most important factors that are
estimated to restrict the development of the industrial Internet of Things market in the next few
years. Also, the increasing concerns related to the data security and privacy are further predicted to
inhibit the market growth in the near future. Nonetheless, the development of the comprehensive
system solutions and the predictive maintenance are projected to encourage the development of the
overall market in the next few years.

Read Our Trending Press Release Below: 

https://www.globenewswire.com/en/news-release/2018/05/29/1512890/0/en/Industrial-Internet-of-
Things-IIoT-Market-to-be-worth-US-991-562-0-Mn-by-2026-TMR.html

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