The Industrial IoT market (IIoT) research by Frost & Sullivan analyses the attractiveness, business benefits, and various technical as well as economic mega trends that are shifting the view of manufacturing industry toward adopting IIoT for their operations.
The IIoT has created a new wave of transformation for manufacturers over the past decade. IIoT brings together brilliant machines, advanced analytics, and people at work. A growing number of industrial facilities are exploring the power of Industrial IoT to optimize their business performance. In a highly competitive global marketplace, industrial organizations seek “digital intelligence” to manage hundreds of thousands of assets in an enterprise to address the critical demands of manufacturers. Not surprisingly, the IIoT’s potential payoff is enormous.
The global manufacturing startup ecosystem is witnessing a rapid growth. Original Equipment Manufacturers (OEMs) are continuously exploring, investing, and acquiring startups that will be relevant to their businesses in the long term. A landscape of the startups is displayed and broken down into application areas. Frost & Sullivan segments the start-up ecosystem into:
- Big Data Analytics
- IoT Gateways
- Smart Sensors
- Virtual and Augmented Reality
- Manufacturing Cloud
- Industrial Mobility
- Edge Analytics
- Additive Manufacturing
A key to successfully migrate into IIoT is to ensure high productivity and operational efficiency at reduced costs. Innovative evolutions and digitization have driven new and different applications of IIoT especially in the manufacturing vertical.
Startups face an arduous struggle in surviving to achieve a product-market fit. So far, a number of leading manufacturers such as Bosch, Siemens, and General Electric (GE) have been early adopters of smart manufacturing.
However, a lot of start-ups are focusing heavily on the needs of the heavy industry and are gaining popularity with their unique solutions.
This research analyses the impact of IIoT on the manufacturing vertical, profiling various companies having innovative applications and exploring competencies that market players should be focusing on during the forecast period. Geographically, this research analyses the growth of IIoT in the major regions classified as North America, Europe, Asia-Pacific, and Rest of the world. In-depth profiles have been created for those companies expected to disrupt the market.
Catch the detailed report soon.