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Global Industrial Internet of Things Market

Glasgow, Scotland - 21 Dec, 2018


Global Industrial Internet of Things Market (IIoT) was valued US$ 95.5 Bn in 2017 and expected to reach US$ 180.2 Bn In 2026, at CAGR of 8.26% during forecast period.

Major factors driving the growth of the IIoT market include technological advancements in semiconductor and electronics devices, availability of automation solutions, improved data rates, and coverage of communication technologies, increasing use of cloud computing platform, growing adoption of IPv6, and support from governments worldwide moving to the adoption of IIoT solutions. An emerging trend among enterprises worldwide is the transformation of technical focus to improving connectivity in order to undertake data collection with the right security measures in place, The emergence of low-power hardware devices, cloud integration, big data analytics, robotics & automation, and smart sensors are also driving IIoT market growth.

At the same time, lack of compatibility between the many technologies functioning in the IoT environment is limiting the growth of the market. The technology is mainly a union of data processing, industrial equipment, networking infrastructure, sensor technologies, and software solutions for data management and writing, lack of a defined protocol or standardization and use of old equipment. Security-related concerns, associated with big data, Poor internet architecture and lack of skilled labors are also expected to limit market growth.

More Information : https://www.maximizemarketresearch.com/market-report/global-industrial-iot-market/11373/

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