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Press Release

Mar 6, 2017 12:03 UTC

Industrial IoT Market to Reach $195.47 Billion by 2022 - Growing Need to Implement Predictive Maintenance Techniques in Industrial Equipment - Research and Markets

DUBLIN--(Business Wire)--Research and Markets has announced the addition of the "Industrial IoT Market - Global Forecast to 2022" report to their offering.

The IIoT market is expected to grow at a CAGR of 7.89% between 2016 and 2022 to reach USD 195.47 billion by 2022 from 113.71 billion in 2015.

A key influencing factor for the growth of the IIoT market is the need to implement predictive maintenance techniques in industrial equipment to monitor their health and avoid unscheduled down times in the production cycle. The manufacturing vertical presents significant growth opportunities for the IIoT market in the coming years. This vertical is undergoing transformation through the use of advanced industrial automation tools, digital manufacturing methodologies, and software solutions such as production lifecycle management (PLM) systems, manufacturing execution systems (MES), and Supervisory Control and Data Acquisition (SCADA) systems. The concept of smart factory, which highlights the importance of adopting cyber-physical systems for controlling the operations, is a key driver for the IIoT market for the manufacturing vertical.

Industrial robotics is extremely vital in the manufacturing vertical for ensuring a higher production output while maintaining quality and safety on the plant floor. With the advancements in sensors, industrial robotics are becoming intelligent and are capable of handling most of the operations on their own, with minimum intervention from the workers. The vision for smart factory is also being realized through the deployment of these intelligent robots along with advanced computers and data analytics.

Companies Mentioned

  • ABB
  • ARM Ltd.
  • Cisco Systems, Inc.
  • Dassault Systèmes
  • General Electric
  • Honeywell International Inc.
  • Huawei Technology Co., Ltd.
  • Intel Corporation
  • International Business Machines Corporation (IBM)
  • (10+ Others)

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 IoT Market, By Device and Technology

8 IIoT Market, By Software

9 IoT Market, By Vertical

10 Geographic Analysis

11 Competitive Landscape

12 Company Profiles

For more information about this report visit http://www.researchandmarkets.com/research/mf24qn/industrial_iot

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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Related Topics: Internet of Things and M2M

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