+1-888-308-5802     
News Contact Us

Industrial IoT Market: What are the main applications and challenges?

Author : Ronak Bora | Published Date : 2019-05-10 

Asia Pacific industrial IoT market currently holds the largest share of the IoT market and is anticipated to grow at a high rate during the forecast period. The rise in demand for automated technologies from metals, mining, manufacturing industries, and developments in healthcare solutions are projected to drive the industrial IoT industry in the region.

In Europe, Industry 4.0 is an upcoming trend in Germany which is the fourth industrial revolution and cyber-physical systems concept introduced to segregate new evolution phase from electronic automation phase, driving the industrial IoT market. It is a global movement towards the future of the industry and manufacturing, which will offer growth opportunities for the industrial IoT industry in the region.

Request for an in-depth table of contents for this report @ https://www.gminsights.com/request-toc/upcoming/1352

Healthcare industry in industrial IoT market is expected to grow at a high rate during the forecast period. The solutions can completely change the healthcare industry through remote monitoring of critical patients. Data gathered through remote monitoring can be used for providing enhanced diagnostics and patient care. Availability of healthcare services and treatments can be enabled through intelligent and complete monitoring systems, propelling the industrial IoT industry. Several companies have started providing integrated solutions by using Industrial IoT technology in the healthcare industry.

Industrial IoT Market is anticipated to propel over the forecast timeline. Improving productivity, enhancing worker safety, and reducing operating costs are the major drivers propelling the industry growth. During the forecast period, Industrial IoT is expected to accelerate the reinvention and growth of verticals, which are responsible for two-thirds of the world’s output. The surging demand for technological advancements and innovations to improve operational efficiencies primarily drives the industrial IoT industry. The technology is anticipated to reshape several industries by generating various financial opportunities. Countries and companies are likely to be transformed showing competitiveness and financial growth. In the coming years, companies would benefit though Industrial IoT by seeing the technology as a tool to find evolution in unexplored applications.

The adoption of Industrial IoT is possible owing to the development in supporting infrastructures such as cloud computing, progress in wireless technologies, sensing technologies, and standardization of IPv6. For instance, aviation manufacturers are providing complete rental programs on their gears and repairing contracts. The feedback from engine users would help manufacturers improve the engine design and reduce industrial and maintenance costs. Countries have appreciated that sensor data could be used to avoid disastrous catastrophes in key networks such as water, power, and transport. These factors are driving the industrial IoT market revenue.

Request for customization of this report @ https://www.gminsights.com/roc/1352

Industrial IoT is the combination of compound physical equipment with data analytics solutions and industrial networks, improving working efficiency and reducing costs. Data and intelligent machines are expected to be revolutionized owing to the Industrial IoT technology thus having a positive impact on operations, productivity, and efficiency. Industrial IoT technology will allow companies to improve their revenues by improving and expanding manufacturing processes through forming new hybrid business models and exploiting intelligent technologies to transform their workforce and fuel innovations. These factors are anticipated to drive the industrial IoT market growth during the forecast timeframe.

Semiconductor players have joined forces with hardware, software, networking companies with academic consortiums, and industry associations to develop formal and informal standards for industrial IoT applications. To overcome the factors hindering the industrial IoT market growth AT&T, Cisco, Inc., GE, IBM, and Intel Corporation formed the Industrial Internet Consortium 2014. This consortium has over 150 and more companies as members working together to help define industry requirements & standards, establish interoperability standards across environments and accelerate adoption of Industrial IoT. Other companies have been intensive on regulating the Application Programming Interfaces (APIs), allowing data transfer and basic commands amongst IoT devices.

Browse Full Reports: https://www.gminsights.com/industry-analysis/industrial-iot-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us 

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: [email protected]
Web: www.gminsights.com  
Blog: www.industry-source.org

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

Related News

Europe Automotive Turbochargers Market to witness highest growth rate during forecast period

Published Date: 2019-05-24         Author: Ronak Bora

Europe automotive turbochargers market will grow considerably over the study timeframe. This can be credited to the presence of major automobile companies adopting turbocharging technologies across their product portfolio. Automotive turbochargers market for PCVs accounted for a revenue share of ... Read More

Asia Pacific Automotive Relay Market Size to grow at over 4.5% CAGR To 2024

Published Date: 2019-05-24         Author: Ronak Bora

High demand of automotive PCB relays in Asia Pacific and Europe has induced an immense potential to the automotive relay market size. Stringent government regulations in Europe regarding incorporation of safety features into vehicles, replacement of obsolete technologies, and fuel efficiency standar... Read More

Asia Pacific Power Sports Market to grow at over 4.5% CAGR To 2025

Published Date: 2019-05-24         Author: Ronak Bora

Asia Pacific power sports market share will showcase significant growth over the forecast timeframe. The growth can be credited to the increasing awareness about off-roading events among youth coupled with rising disposable income across the region. The proliferating presence of industry players to ... Read More

© 2019 Fractovia. All Rights Reserved