Emerging economies of Latin America, Africa towards grow in IIoT<=>IoT
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Industrial Internet Of Things (IIOT) Market - Overview Of Key Market Forces Propelling And Restraining Market Growth
Global Industrial Internet of Things (IIoT) Market: Overview
The deployment of the Internet of Things (IoT) in manufacturing, known as industrial Internet of Things (IIoT) is likely to revolutionize manufacturing processes. Greater accessibility and acquisition of large volumes of data, at greater speeds, and with greater efficiency than earlier are made possible by IIoT. Several companies have started implementing IIoT via connected smart devices in their factories.
In the near future, successful firms will use IIoT in three ways, tapping intelligent technologies to boost innovation to bring about a transformation, by producing new business models, and increasing production, thereby increasing profits.
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Global Industrial Internet of Things (IIoT) Market: Regional Outlook
Based on geography, the global industrial IoT market has been segmented into Asia Pacific, Latin America, North America, Eastern Europe, Western Europe, and the Middle East and Africa. Early adoption of IoT by the industries in North America might position this region at the fore. Several advantageous government initiatives such as the Industrie 4.0 in Germany and Plan Industriel in France are likely to boost the expansion of the industrial IoT market in Europe.
The emerging economies of Latin America, Africa, and Asia Pacific are slated for substantial growth. The flourishing oil and gas industry in the Middle East, the growing mining activities in several regions of Africa, and large scale industrial development across numerous industrial sectors in India and China are contributing towards the growth of the market. The exceptional growth of Asia Pacific can be attributed to the transportation, mining, manufacturing, and retail sectors in China and India. China is expected to account for a significant share of the industrial IoT market in Asia Pacific.
Some of the major companies operating in the global market for industrial Internet of Things are Siemens AG, Intel Corporation, Accenture PLC, International Business Machine (IBM) Corporation, Cisco Systems Inc., Schneider Electric SE, Huawei Technology Co. Ltd., General Electric Company, and Robert Bosch GmbH.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations: Transparency Market Research
