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Improvements in Sensor Technology Boosts Industrial Internet of Things (IIoT) Market

Press Release   •   Aug 22, 2017 06:01 EDT

The increasing support from government and digital transformation of traditional industries are two important factors driving the growth prospects of the global industrial internet of things market, states a new report that has been added by The report is titled “Global Industrial Internet of Things (IIoT) Market Size, Status and Forecast 2022.” According to the report, the need to enhance business productivity so as to sustain in the competitive environment will drive the adoption of IIoT in the years to come. The growing data generation is another key factor fueling the demand for IIoT. In recent times a significant increase in the number of connected devices used in the industry have resulted in high volumes of data, which in turn is boosting the demand for industrial internet of things, as companies make use of this data to optimize their cost and generate revenue.

The advancements in sensor technology are influencing the growth of the global industrial internet of things market. Innovations in material sciences have resulted in the development of different types of sensors. Moreover, sensor technology has advanced in terms of energy consumption, miniaturization, performance, and cost. The improvement in sensor technology is positively impacting the global IIoT market, as sensors help in the industrial internet setup and boost remote monitoring, enterprise mobility, and remote system control. These benefits are anticipated to save considerable costs and will spur the adoption of industrial internet of things in the coming years.
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The report segments the global industrial internet of things market on the basis of geography into Asia Pacific, Europe, North America, and the Rest of the World. Asia Pacific is currently leading in the IIoT market. In fact, the region is likely to continue to hold its leading status for the rest of the forecast period on account of the growing utilization of industrial robots.
The report profiles key players within the global industrial internet of things market for the purpose of study. It includes the study of the business and financial overview of each of the companies. The recent accomplishments and developments by key players are highlighted. The strategies adopted by market players to score high above the rest are also revealed. Expansion strategies such as mergers and acquisitions, collaborations, and partnerships are also discussed. The global industrial internet of things market is highly competitive and is led by large vendors who have access to better resources and technologies.
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Vendors with a wide range of product and service offerings are gaining competitive edge among others. Players are offering services such as network management. Some of the leading players in the market are: Siemens, Cisco, AT&T, GE, Robert Bosch, IBM, ARM Holdings, Intel, Google, Rockwell Automation, Zebra Technologies, RTI, Broadcom, Accenture, Honeywell, and Huawei.