Navigant Research claims the Industrial Internet of Things (IIoT) market is expected carve out
A market share of more than $1 trillion between 2017 and 2027. It also says the overall IoT megatrend provides businesses of all shapes and sizes the opportunity to leverage technology platforms that can drive growth, lower costs, improve margins, and develop new revenue streams. Through enhanced predictive and preventive maintenance capabilities, IIoT platforms enable more efficient use of energy as the software makes intelligent adjustments regarding energy consumption, while data from sensors yields enhanced insights on optimized equipment maintenance.
Initially, IIoT solutions can appear overwhelming to managers unsure how to harness the array of hardware, software, and service choices, according to the report. Though there are bumps along the way in these types of deployments at this relatively early market stage, companies are starting to see their investments translate into real benefits.
The report, Industrial Internet of Things, examines the emerging global IIoT market and provides practical guidelines regarding how companies can implement IIoT hardware, software, and services. The study analyzes the key market drivers and inhibitors, technologies, and regulatory frameworks related to IIoT. Global market forecasts, segmented by region and sector, extend through 2027. The report also examines regional IIoT trends, select vendor solutions, and IIoT case studies in eight industry sectors. An Executive Summary of the report is available for free download on the Navigant Research website. For more info, visit Navigant Research.