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Industrial IoT future market trends by technology projected to reach $319.62 billion by 2020 scrutinized in new research

The Industrial IoT Market report segments the Industrial internet of things market based onindustry vertical into 6 major industries comprising manufacturing, transportation, healthcare, retail, oil and gas along with, energy and power.

The Industrial IoT market size was worth $181.29 Billion in 2013 that is expected to reach $319.62 Billion at a CAGR of 8.15% from 2014 to 2020.This research report categorizes the Industrial IoT market based on different technology, components, industry verticals, applications, and geography; it also covers the respective market sizes between 2013 and 2020. It describes the market penetration of industrial internet of things in various regions.

The report also qualitatively describes the major applications of Industrial IoT ecosystem.

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Industrial Internet of Things offers many opportunities for various sectors such as manufacturing sector or healthcare. Some of the ways in which the Industrial IoT is poised to change and benefit different businesses are as follows: it will provide more resources for businesses, smart decision making capabilities, improved asset monitoring capabilities, effective collaboration; and most of all, new training and education opportunities

Industrial Internet of Things (IIoT) is a scenario in which sensors, devices, and machines are connected with the Internet for enabling remote monitoring and control of industrial operations. This ability to control and manage assets remotely along with, increased cost savings through predictive maintenance is very valuable for industries.

Its implementation can enhance decision making capabilities and also increase the collaboration within enterprises. Thus, Industrial IoT has the potential to transform industrial operations and provide greater competitive advantage for the companies.

This report covers the overall Industrial IoT market on the basis of different types of technology, industry verticals, components, application, and geography. The technologies considered for the Industrial internet of things market are wired and wireless.

Major industry verticals covered in the report are manufacturing, transportation, energy and power, oil and gas, healthcare, and retail. The IIoT market by component includes sensors, actuators, RFID, memory and processor, energy meters, and networking components.

The major applications included in the report are power generation systems, security and access controls, temperature controls, pressure controls, and vibration controls.

Some of the major industry players in the Industrial internet of things market are GECorporation (U.S.), Intel Corporation (U.S.), Cisco Inc. (U.S.), IBM Corp. (U.S.), Robert Bosch GmbH, (Germany), and ARM Holdings plc.(U.K.), among others.

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The market associated with the Industrial Internet of Things is poised for tremendous growth. Sectors such as transportation and manufacturing have already begun adopting the same for their operations.

Energy and power along with, oil and gas industries are deploying industrial IoT solutions primarily, for asset monitoring and predictive maintenance. Retail and healthcare sectors are expected to be the high growth sectors with regards to implementation of these solutions.

Industrial Internet of Things (IIoT) is a scenario in which sensors, devices, and machines are connected with the Internet for enabling remote monitoring and control of industrial operations. This ability to control and manage assets remotely along with, increased cost savings through predictive maintenance is very valuable for industries.

Its implementation can enhance decision making capabilities and also increase the collaboration within enterprises. Thus, Industrial IoT has the potential to transform industrial operations and provide greater competitive advantage for the companies.

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MarketsandMarkets™ - Business ResearchMarketsandMarkets™
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