Report Description

The global IIoT Platform Market is anticipated to thrive in the forecast period 2024-2028. IIoT platforms are becoming more and more prevalent. More than 150 platforms are already operational, and the ecosystem is expanding. Expectations for its value contribution and disruptive potential are extremely high. Moreover, technological development has enabled major firms in providing improved IIoT solutions to their clientele. The integration of smart sensors into industrial machinery has compelled manufacturers to reduce operational costs , and this trend is likely to continue during the forecast years. Additionally, augmented and virtual reality provides viewers with a 360-degree view of an object before it is really manufactured. These factors are boosting the demand for IIoT platform market all across the globe.

The Internet of Things (IoT) is a concept that refers to a network of actual physical items and gadgets that essentially links various types of assets, including sensors, automobiles, home appliances, people, and buildings, using IT and communication technologies. As a result, objects can communicate information with any other object or person at any time, everywhere. A subset of the IoT, the Industrial IoT, employs IoT principles and technologies in an industrial setting, for instance, to create smart factories, enhance or modify production lines, or link machines in the manufacturing sector. Platforms known as cloud platforms or IIoT platforms are used in the context of IIoT and IIoT-based solutions to connect the diverse devices, data sources, and users.

An Increase in the Adoption of Cloud-Based Deployment models and Low Operating Costs

One of the main drivers for small and medium-sized businesses is the demand for inexpensive data storage, backup, and data security (SMEs). Utilizing the cloud enables businesses to offer better IoT services to different industrial verticals. The connected supply chain and smart manufacturing processes depend heavily on connected and smart items. The development of affordable connected devices has also made it possible for manufacturers to use IoT technology to reduce resource consumption and boost overall productivity. Additionally, because IoT applications have a low operational cost, many manufacturers seek to integrate them into their machinery in order to increase efficiency while lowering costs.

Significant Government Support For Industrial Automation

Many governments have pushed the use of disruptive technologies like the IIoT to advance industrial automation across various organisations. Governments throughout the world implement a variety of incentive programmes to encourage automation and boost the adoption of industrial IoT. These programmes include R&D expenditures, tax incentives, and the development of promotional initiatives and platforms. More initiatives connected to the Internet of Things are still being worked on under the 7th Framework Programme for Research and Technological Development (FP7) in Europe. The industrialists were compelled by this reform to include IoT technology into their corporate processes. Additionally, the Indian government is working on a number of projects like "Make in India," "Digital India," and "Smart City," all of which are anticipated to generate a wealth of opportunities for the adoption of emerging technologies.

Surge In Predictive Maintenance

The objective of predictive maintenance approach is to assess the state of currently operational equipment and predict whenever maintenance is necessary. Predictive maintenance is applied based on the equipment's actual condition, not on its age or the passage of time. The rise in the use of predictive maintenance has inspired major players to include such methods into their current machinery. This boost IIoT platforms all across the globe. Moreover, connected supply chain and smart manufacturing techniques require smart and connected items. The development of low-cost connected devices has also made it possible for manufacturers to implement IoT technology to reduce resource consumption and boost overall productivity. Additionally, many manufacturers want to integrate IoT apps into their equipment since they have a low operational cost, allowing them to increase efficiency while paying less.


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Market Segmentation

The IIoT Platform market is segmented into platform type,  application area, end user vertical and region. By platform type, it is divided into device management platform, application management platform and connectivity management platform. The application area segment is further categorized into predictive maintenance, business process optimization, asset tracking & management, logistics & supply chain management and others. Depending on end user vertical, it is segregated into manufacturing, energy, healthcare, metals & mining, retail, and others.

Market Player

Major market players in the global IIoT Platform market are Accenture Plc, IBM Corporation, Schneider Electric SE, General Electric, Cisco Systems, Inc., Siemens AG, Robert Bosch GmbH, PTC Inc., Microsoft Corporation, Litmus Automation Inc.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2024-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

By Platform Type

By Application Area

By End User Vertical

Regional scope

North America; Asia-Pacific; Europe; South America; Middle East

Country scope

United States, Canada, Mexico, China, Indian, Japan, South Korea, Australia, Singapore, Malaysia, Germany, United Kingdom, France, Russia, Spain, Belgium, Italy, Brazil, Colombia, Argentina, Peru, Chile, Africa, Saudi Arabia, South Africa, UAE, Israel, Turkey

Key companies profiled

Accenture Plc, IBM Corporation, Schneider Electric SE, General Electric, Cisco Systems, Inc., Siemens AG, Robert Bosch GmbH, PTC Inc., Microsoft Corporation, Litmus Automation Inc .

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, the Global IIoT Platform market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

·         IIoT Platform Market, By Platform Type:

o   Management Platform

o   Application Management Platform

o   Connectivity Management Platform

·         IIoT Platform Market, By Application Area:

o   Predictive Maintenance

o   Business Process Optimization

o   Asset Tracking & Management

o   Logistics & Supply Chain Management

o   Others

·         IIoT Platform Market, By End User Vertical:

o   Manufacturing

o   Energy

o   Healthcare

o   Metals & Mining

o   Retail

o   Others

·         IIoT Platform Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Asia-Pacific

§  India

§  Japan

§  South Korea

§  Australia

§  Singapore

§  Malaysia

o   Europe

§  Germany

§  United Kingdom

§  France

§  Russia

§  Spain

§  Belgium

§  Italy

o   South America

§  Brazil

§  Argentina

§  Colombia

§  Peru

§  Chile

o   Middle East

§  South Arabia

§  South Africa

§  UAE

§  Israel

§  Turkey 

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global IIoT Platform market.

Available Customizations:

Global IIoT Platform market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global IIoT Platform market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Service Overview

2.    Research Methodology

3.    Impact of COVID-19 on Global IIoT Platform Market

4.    Executive Summary

5.    Voice of Customers

5.1.  Brand Awareness

5.2.  Factors Considered while Selecting Vendor

5.3.  Major Challenges Faced

5.4.  Technological Awareness

5.5.  Frequency of Usage of IIoT Platform

6.    Global IIoT Platform Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Platform Type (Device Management Platform, Application Management Platform and Connectivity Management Platform)

6.2.2.    By Application Area (Predictive Maintenance, Business Process Optimization, Asset Tracking & Management, Logistics & Supply Chain Management and Others)

6.2.3.    By End User Vertical (Manufacturing, Energy, Healthcare, Metals & Mining, Retail, Others)

6.2.4.    By Region

6.2.5.    By Company

6.3.  Market Map

7.    North America IIoT Platform Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Platform Type

7.2.2.    By Application Area

7.2.3.    By End User Vertical

7.2.4.     By Country

7.3.  North America: Country Analysis

7.3.1.    United States IIoT Platform Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value 

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Platform Type

7.3.1.2.2.           By Application Area

7.3.1.2.3.           By End User Vertical

7.3.2.    Canada IIoT Platform Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value 

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Platform Type

7.3.2.2.2.           By Application Area

7.3.2.2.3.           By End User Vertical

7.3.3.    Mexico IIoT Platform Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value 

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Platform Type

7.3.3.2.2.           By Application Area

7.3.3.2.3.           By End User Vertical

8.    Asia-Pacific IIoT Platform Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Platform Type

8.2.2.    By Application Area

8.2.3.    By End User Vertical

8.2.4.    By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.    China IIoT Platform Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value 

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Platform Type

8.3.1.2.2.           By Application Area

8.3.1.2.3.           By End User Vertical

8.3.2.    India IIoT Platform Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value 

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Platform Type

8.3.2.2.2.           By Application Area

8.3.2.2.3.           By End User Vertical

8.3.3.    Japan IIoT Platform Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value 

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Platform Type

8.3.3.2.2.           By Application Area

8.3.3.2.3.           By End User Vertical

8.3.4.    South Korea IIoT Platform Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value 

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Platform Type

8.3.4.2.2.           By Application Area

8.3.4.2.3.           By End User Vertical

8.3.5.    Australia IIoT Platform Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value 

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Platform Type

8.3.5.2.2.           By Application Area

8.3.5.2.3.           By End User Vertical

8.3.6.    Singapore IIoT Platform Market Outlook

8.3.6.1.        Market Size & Forecast

8.3.6.1.1.           By Value 

8.3.6.2.        Market Share & Forecast

8.3.6.2.1.           By Platform Type

8.3.6.2.2.           By Application Area

8.3.6.2.3.           By End User Vertical

8.3.7.    Malaysia IIoT Platform Market Outlook

8.3.7.1.        Market Size & Forecast

8.3.7.1.1.           By Value 

8.3.7.2.        Market Share & Forecast

8.3.7.2.1.           By Platform Type

8.3.7.2.2.           By Application Area

8.3.7.2.3.           By End User Vertical

9.    Europe IIoT Platform Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.1.1.           By Platform Type

9.2.1.1.2.           By Application Area

9.2.1.1.3.           By End User Vertical

9.2.1.1.4.           By Country

9.3.  Europe: Country Analysis

9.3.1.    Germany IIoT Platform Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value 

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Platform Type

9.3.1.2.2.           By Application Area

9.3.1.2.3.           By End User Vertical

9.3.1.3.        United Kingdom IIoT Platform Market Outlook

9.3.1.3.1.           Market Size & Forecast

9.3.1.3.1.1.               By Value 

9.3.1.4.        Market Share & Forecast

9.3.1.4.1.           By Platform Type

9.3.1.4.2.           By Application Area

9.3.1.4.3.           By End User Vertical

9.3.2.    France IIoT Platform Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value 

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Platform Type

9.3.2.2.2.           By Application Area

9.3.2.2.3.           By End User Vertical

9.3.3.    Russia IIoT Platform Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value 

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Platform Type

9.3.3.2.2.           By Application Area

9.3.3.2.3.           By End User Vertical

9.3.4.    Spain IIoT Platform Market Outlook

9.3.4.1.        Market Size & Forecast

9.3.4.1.1.           By Value 

9.3.4.2.        Market Share & Forecast

9.3.4.2.1.           By Platform Type

9.3.4.2.2.           By Application Area

9.3.4.2.3.           By End User Vertical

9.3.5.    Belgium IIoT Platform Market Outlook

9.3.5.1.        Market Size & Forecast

9.3.5.1.1.           By Value 

9.3.5.2.        Market Share & Forecast

9.3.5.2.1.           By Platform Type

9.3.5.2.2.           By Application Area

9.3.5.2.3.           By End User Vertical

9.3.6.    Italy IIoT Platform Market Outlook

9.3.6.1.        Market Size & Forecast

9.3.6.1.1.           By Value 

9.3.6.2.        Market Share & Forecast

9.3.6.2.1.           By Platform Type

9.3.6.2.2.           By Application Area

9.3.6.2.3.           By End User Vertical

10. South America IIoT Platform Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1.1.     By Platform Type

10.2.1.2.     By Application Area

10.2.1.3.     By End User Vertical

10.2.1.4.     By Country

10.3.             South America: Country Analysis

10.3.1. Brazil IIoT Platform Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Platform Type

10.3.1.2.2.         By Application Area

10.3.1.2.3.         By End User Vertical

10.3.2. Argentina IIoT Platform Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Platform Type

10.3.2.2.2.         By Application Area

10.3.2.2.3.         By End User Vertical

10.3.3. Colombia IIoT Platform Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value 

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Platform Type

10.3.3.2.2.         By Application Area

10.3.3.2.3.         By End User Vertical

10.3.4. Peru IIoT Platform Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value 

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Platform Type

10.3.4.2.2.         By Application Area

10.3.4.2.3.         By End User Vertical

10.3.5. Chile IIoT Platform Market Outlook

10.3.5.1.     Market Size & Forecast

10.3.5.1.1.         By Value 

10.3.5.2.     Market Share & Forecast

10.3.5.2.1.         By Platform Type

10.3.5.2.2.         By Application Area

10.3.5.2.3.         By End User Vertical

11. Middle East & Africa IIoT Platform Market Outlook

11.1.             Market Size & Forecast

11.1.1. By Value

11.2.             Market Share & Forecast

11.2.1.1.     By Platform Type

11.2.1.2.     By Application Area

11.2.1.3.     By End User Vertical

11.2.1.4.     By Country

11.3.             Middle East & Africa: Country Analysis

11.3.1. Saudi Arabia IIoT Platform Market Outlook

11.3.1.1.     Market Size & Forecast

11.3.1.1.1.         By Value 

11.3.1.2.     Market Share & Forecast

11.3.1.2.1.         By Platform Type

11.3.1.2.2.         By Application Area

11.3.1.2.3.         By End User Vertical

11.3.2. South Africa IIoT Platform Market Outlook

11.3.2.1.     Market Size & Forecast

11.3.2.1.1.         By Value 

11.3.2.2.     Market Share & Forecast

11.3.2.2.1.         By Platform Type

11.3.2.2.2.         By Application Area

11.3.2.2.3.         By End User Vertical

11.3.3. UAE IIoT Platform Market Outlook

11.3.3.1.     Market Size & Forecast

11.3.3.1.1.         By Value 

11.3.3.2.     Market Share & Forecast

11.3.3.2.1.         By Platform Type

11.3.3.2.2.         By Application Area

11.3.3.2.3.         By End User Vertical

11.3.4. Israel IIoT Platform Market Outlook

11.3.4.1.     Market Size & Forecast

11.3.4.1.1.         By Value 

11.3.4.2.     Market Share & Forecast

11.3.4.2.1.         By Platform Type

11.3.4.2.2.         By Application Area

11.3.4.2.3.         By End User Vertical

11.3.5. Turkey IIoT Platform Market Outlook

11.3.5.1.     Market Size & Forecast

11.3.5.1.1.         By Value 

11.3.5.2.     Market Share & Forecast

11.3.5.2.1.         By Platform Type

11.3.5.2.2.         By Application Area

11.3.5.2.3.         By End User Vertical

12. Market Dynamics

12.1. Drivers

12.1.1. An increase in the adoption of cloud-based deployment models

12.1.2. Decreasing operating costs

12.1.3. Surge In Predictive Maintenance

12.2. Challenges

12.2.1. Data Security Issues

12.2.2. Insufficient IT infrastructure

13. Market Trends & Developments

13.1.   Increase in Tech-savvy Workforce

13.2.   Rise In Technological Development

13.3.   Government Initiatives

13.4.   Growth in adoption of cloud-based deployment model

13.5.   Adoption of 5G Across Industries

14. Company Profiles

14.1.             Accenture Plc

14.1.1. Business Overview

14.1.2. Key Revenue and Financials

14.1.3. Recent Developments

14.1.4. Key Personnel

14.1.5. Key Product/Services

14.1.6. SWOT Analysis

14.2.             IBM Corporation

14.2.1. Business Overview

14.2.2. Key Revenue and Financials

14.2.3. Recent Developments

14.2.4. Key Personnel

14.2.5. Key Product/Services

14.2.6. SWOT Analysis

14.3.             Schneider Electric SE

14.3.1. Business Overview

14.3.2. Key Revenue and Financials

14.3.3. Recent Developments

14.3.4. Key Personnel

14.3.5. Key Product/Services

14.3.6. SWOT Analysis

14.4.             General Electric

14.4.1. Business Overview

14.4.2. Key Revenue and Financials

14.4.3. Recent Developments

14.4.4. Key Personnel

14.4.5. Key Product/Services

14.4.6. SWOT Analysis

14.5.             Cisco Systems, Inc.

14.5.1. Business Overview

14.5.2. Key Revenue and Financials

14.5.3. Recent Developments

14.5.4. Key Personnel

14.5.5. Key Product/Services

14.5.6. SWOT Analysis

14.6.             Siemens AG

14.6.1. Business Overview

14.6.2. Key Revenue and Financials

14.6.3. Recent Developments

14.6.4. Key Personnel

14.6.5. Key Product/Services

14.6.6. SWOT Analysis

14.7.             AB Robert Bosch GmbH

14.7.1. Business Overview

14.7.2. Key Revenue and Financials

14.7.3. Recent Developments

14.7.4. Key Personnel

14.7.5. Key Product/Services

14.7.6. SWOT Analysis

14.8.             PTC Inc.

14.8.1. Business Overview

14.8.2. Key Revenue and Financials

14.8.3. Recent Developments

14.8.4. Key Personnel

14.8.5. Key Product/Services

14.8.6. SWOT Analysis

14.9.             Microsoft Corporation

14.9.1. Business Overview

14.9.2. Key Revenue and Financials

14.9.3. Recent Developments

14.9.4. Key Personnel

14.9.5. Key Product/Services

14.9.6. SWOT Analysis

14.10.          Litmus Automation Inc.

14.10.1.              Business Overview

14.10.2.              Key Revenue and Financials

14.10.3.              Recent Developments

14.10.4.              Key Personnel

14.10.5.              Key Product/Services

14.10.6.              SWOT Analysis

15. Strategic Recommendations

15.1.   Key focus on Asia Pasific Region

15.2.   Key focus towards Manufacturing vertical

16.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

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Accenture Plc, IBM Corporation, Schneider Electric SE, General Electric, Cisco Systems, Inc., Siemens AG, Robert Bosch GmbH, PTC Inc., Microsoft Corporation, Litmus Automation Inc are major market players in the global IIoT platform market.

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The major challenges in the IIoT Platform are Maintaining connectivity, security risks.

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Asia-Pacific is the fastest-growing region in the IIoT Platform market due to developing IT industry and government initiative.

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The IIoT Platform aggregates real-time data from hardware, software systems, sensors, and other data points into a centralized environment, which can usually be accessed by a wide group of users.

profile

Sakshi Bajaal

Business Consultant
Press Release

IIoT Platform Market to Grow at Double Digit CAGR Through 2028

Jan, 2023

The rising need for Industrial IoT applications in smart sectors, along with affordable sensor costs and cutting-edge sensor technology is expected to drive the market of the Global IIoT platform Mar