The Vietnam Industrial Internet of Things (IIoT) Platform
Market is anticipated to grow at a high CAGR in the forecast period of
2024-2028 due to the rising investments in the industry 4.0,
government by giving incentives to promote industrial automations, and the
need for high productivity and efficiency. The integration of the Internet of Things (IoT) in
manufacturing and industrial facilities is referred to as the industrial
Internet of Things. IoTs achieve an elevated level of operational technology
(OT) and information technology (IT) integration. The Industrial IoT
encompasses a wide range of use cases, industries, and applications. Initially
focusing on operational efficiency optimization and
rationalization/automation/maintenance, with an important role in the
convergence of IT and OT. Furthermore, while some technologies, architectural
frameworks, and applications across all IoT layers differ between Industrial
IoT and Consumer IoT, a typical large Industrial Internet of Things (IIoT)
project will leverage several forms of connectivity and solutions, some of
which are also used in consumer IoT.
The primary focus of most
Industrial Internet of Things deployments and the majority of organisations
remains operational efficiency and cost optimization. As IDC put it, the key
drivers are efficiency optimization and linking islands of automation. However,
a more comprehensive approach with additional revenue and innovation targets is
required. On the other hand, industrial organisations must start somewhere to
advance in Industrial Internet of Things (IIoT) maturity and
possibility/opportunity reality. Given the market challenges and low-hanging
fruit in many industrial markets, it is natural that connectivity in the Industrial
Internet of Things (IIoT) space is initially focused on a limited set of goals
and benefits.
The Rapid Adoption of
Artificial Intelligence (AI) and the Internet of Things (IoT) in the
Manufacturing Sector is Driving the Market in the Forecast period
The primary focus of most
Industrial Internet of Things deployments and the majority of organisations
remains operational efficiency and cost optimization. As IDC put it, the key
drivers are efficiency optimization and linking islands of automation. However,
a more comprehensive approach with additional revenue and innovation targets is
required. On the other hand, industrial organisations must start somewhere to
advance in Industrial Internet of Things (IIoT) maturity and
possibility/opportunity reality. Given the market challenges and low-hanging
fruit in many industrial markets, it is natural that connectivity in the Industrial
Internet of Things (IIoT) space is initially focused on a limited set of goals
and benefits. Manufacturers can connect their machines to the internet using
Industrial IoT. Connected machines provide manufacturers with real-time insight
into machine health and key performance indicators (KPIs). Overall equipment
effectiveness (OEE) and overall process effectiveness (OPE) are two examples
(OPE). This data assists manufacturers in identifying and correcting the causes
of unplanned downtime. They can also increase machine utilisation by
emphasising the importance of preventive equipment maintenance. Vibrations,
temperature, humidity, and other conditions can be monitored by IoT-connected
environmental sensors. They are capable of detecting conditions that have a
negative impact on operations or cause excessive wear and tear on equipment.
Self-driving Cars are on the
Horizon are Fuelling the Market Growth
With the impending
introduction of autonomous or self-driven trucks and passenger automobiles, the
automotive industry is experiencing a quick upheaval. Trucks and other vehicles
that can connect with one another through data collecting and cloud storage
will be developed using Internet of Things (IoT) technologies. Global sales of
electric vehicles increased by 2.1 million in 2019, bringing the total number
of electric vehicles on the road to 7.2 million. According to a recent report
from the United Nations Economic Commission for Europe, self-driving cars
provide comfort, safety, and effectiveness while minimising their environmental
impact (UNESE). This is anticipated to result in the formation of market for
autonomous trucks and other different vehicles based on an Industrial Internet
of Things (IIoT) platform.
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Market Segments
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.
Market Players
Major
market players of Vietnam Industrial
Internet of Things (IIoT) Platform Market are 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. Businesses
that are engaged in the market use organic strategies including product
launches, mergers, and partnerships achieve good market growth.
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 –
2021
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Estimated Year
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2023
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Forecast Period
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2024
– 2028
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Quantitative Units
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Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
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Report coverage
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Revenue
forecast, company share, growth factors, and trends
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Segments covered
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Platform Type
By Application Area
By End User Vertical
By Region
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Regional scope
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Northern
Vietnam, Southern Vietnam and Central Vietnam
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Key companies profiled
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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
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Customization scope
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10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel
through Email (We can also provide the editable version of the report in
PPT/Word format on special request)
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Report Scope:
In
this report, Vietnam Industrial Internet of Things (IIoT) Platform
Market has been
segmented into following categories, in addition to the industry trends which
have also been detailed below:
·
Vietnam Industrial Internet of Things (IIoT) Platform Market, By Platform Type
o Management Platform
o Application Management Platform
o Connectivity Management Platform
·
Vietnam Industrial Internet of Things (IIoT) Platform Market, By
Application Area
o Predictive Maintenance
o Business Process Optimization
o Asset Tracking & Management
o Logistics & Supply Chain Management
o Others
·
Vietnam Industrial Internet of Things (IIoT) Platform Market, By End User Vertical
o Manufacturing
o Energy
o Healthcare
o Metals & Mining
o Retail
o Others
·
Vietnam Industrial Internet of Things (IIoT) Platform Market, By Region:
o Northern Vietnam
o Southern Vietnam
o Central Vietnam
Competitive Landscape
Company Profiles: Detailed analysis of the
major companies present in Vietnam Industrial
Internet of Things (IIoT) Platform Market
Available Customizations:
Vietnam Industrial Internet of Things (IIoT) Platform Market
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).
Vietnam Industrial Internet of Things (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]