Press Release

Vietnam Industrial Internet of Things (IIoT) Platform Market is growing due to rising demand for large-scale Industrial IoT solutions by 2028

Growing technological advancements in semiconductor & electronic devices is driving the Industrial Internet of Things (IIoT) market for the forecast period across Vietnam.


According to TechSci Research report,
Vietnam Industrial Internet of Things (IIoT) Platform Market - By Region, Competition Forecast & Opportunities, 2018-2028 the Vietnam Industrial Internet of Things (IIoT) Platform Market is expected to register robust growth during the forecast period, 2024-2028. The Vietnam Industrial Internet of Things (IIoT) platform market is the growing through the forecast period attributable to the increasing availability of low-cost processors and sensors that can provide real-time access to information, as well as technological advancements, are expected to drive growth. Furthermore, the growing need to improve operational competence, as well as significant collaboration among key players, is fueling market growth. Several techniques are also being developed to create a unified digital-human workforce, which is expected to provide significant opportunities for growth.


The Vietnam Industrial Internet of Things (IIoT) market has seen a steady increase in IoT adoption over the last few years, owing to a variety of factors such as technological advancements in wireless network technologies and widespread use of Wi-Fi connectivity for machine sensors in factories. Furthermore, the development of smart cities and smart transportation leads to increased adoption of IoT, which is expected to propel the industrial internet of things industry forward in the upcoming years.


Furthermore, technology is enabling organizations to use advanced analytics and methodologies such as Machine Learning (ML) and Artificial Intelligence (AI) to deliver prescriptive and predictive analytical solutions, allowing the sector to capitalize on new opportunities. The continuous learning process associated with ML and AI, which is free of interruptions and downtime, makes it a more sought-after tool in the Industrial Internet of Things (IIoT) market, driving market growth over the forecast period.


Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the "
Vietnam Industrial Internet of Things (IIoT) Platform Market"


The Vietnam Industrial Internet of Things (IIoT) Platform market is segmented into platform type, application area, end user vertical and region. Based on platform type, the market is divided into device management platform, application management platform, and connectivity management platform. Based on application area, the market is categorized into predictive maintenance, business process optimization, asset tracking & management, logistics & supply chain management, and others. Based on end user vertical, the market is segregated into manufacturing, energy, healthcare, metals & mining, retail, and others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Northern Vietnam, Southern Vietnam, and Central Vietnam.


In terms of platform type, the device management platform will have the largest share of the Industrial Internet of Things (IIoT) platform market in 2022, as remote management of IIoT devices is required as the country's IIoT deployments involve millions of linked devices. Predictive maintenance is expected to hold the largest share in application area for the Vietnam Industrial Internet of Things (IIoT) Platform Market in 2022. It is a function of the Industrial Internet of Things (IIoT) and is feasible to predict machine problems using real-time data gathered from numerous sources, allowing businesses to take corrective action before the machine malfunctions. The manufacturing sector is expected to hold the largest share for end-user vertical of the Vietnam Industrial Internet of Things (IIoT) platform market in 2022, owing to rising demand for IoT in modern manufacturing facilities where the concept of smart manufacturing has been around since its inception. Northern Vietnam region is the fastest-growing region in the Vietnam Industrial Internet of Things (IIoT) Platform market in 2022 due to the developing IT industry and government initiatives.


Key market players in the Vietnam Industrial Internet of Things (IIoT) Platform Market
include:

  • IBM Vietnam Company
  • Microsoft Vietnam Company Limited
  • Cisco Systems Vietnam Company Limited
  • Intel Products Vietnam Co., Ltd.
  • SAP Vietnam Company Limited
  • Siemens Ltd. (Vietnam)
  • Oracle Vietnam Pte., Ltd.
  • Schneider Electric Vietnam Company Limited
  • Hitachi Systems Vietnam Co., Ltd
    HPE Vietnam

Recent Development

  • Arm Limited introduced two new solutions, Arm Cortex-M85 and Cortex-A, in April 2022. These new products and solutions are expected to help the company provide better customer solutions, attract new customers, and accelerate revenue growth across the country.
  • Cisco Systems, Inc. developed an advanced IoT Control Center platform in March 2022 to help improve service reliability and lower operational costs. This advancement is expected to assist the company in diversifying its solution portfolio and providing higher-quality solutions.


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The Industrial Internet of Things (IIoT) provides numerous opportunities in automation, optimization, intelligent manufacturing and smart industry, asset performance management, maintenance, industrial control, transitioning to an on-demand service model, new ways of serving customers, and the creation of new revenue models, the more mature goal of industrial digital transformation. Several organizations have reached a high level of maturity in their IoT investment, with businesses planning to spend the majority of their IT budgets on IoT projects over the next three years. Other Industry 4.0 technologies, such as cloud computing, big data analytics, next-generation security, and robotics, would benefit from such investment.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.


Vietnam
Industrial Internet of Things (IIoT) Platform Market By Platform Type (Device Management Platform, Application Management Platform and Connectivity Management Platform), By Application Area (Predictive Maintenance, Business Process Optimization, Asset Tracking & Management, Logistics & Supply Chain Management and Others), By End User Vertical (Manufacturing, Energy, Healthcare, Metals & Mining, Retail, Others), By Region, Competition Forecast & Opportunities, 2028 has assessed the Vietnam Industrial Internet of Things (IIoT) Platform market's future development potential and provides data and information on market size, structure, and projected market growth. The report's goal is to give current market knowledge and assist decision makers in making informed investment decisions. Furthermore, the study identifies and analyses emerging trends, as well as key drivers, constraints, and opportunities in the Vietnam Industrial Internet of Things (IIoT) Platform market.


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