The internet of things (IoT) has moved well beyond a buzzword that’s to arrive at some point in the future — with real-world examples that can now be found in factories, homes and businesses all over the world.
This list is an unscientific look at some of the biggest companies attempting to turn the IoT market into a reality.
And with the internet of things already making big waves in the energy and manufacturing industries, it’s unsurprising that many of the most well-known technology giants have invested heavily in IoT.
Read more Top 10+ Trusted IoT(Internet of things) Solution Provider Companies
Research Nester released a report titled “Industrial IoT Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global industrial IoT market in terms of market segmentation by component, by end user and by region.Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.According to statistics by the Organisation for Economic Co-operation and Development (OECD), labour productivity and utilization in the European Union decreased significantly from 3.06% in the year 2010 to 0.73% in the year 2018.
Another statistics by the Federal Statistical Office of Germany stated that unit labour costs in Germany increased from (-)1.60% in the year 2014 to 2.40% in the year 2018.The global industrial Internet of Things (IoT) market has been growing at a significantly high rate on account of growing concern for decreasing labour productivity and utilization along with increasing unit labour costs, which is raising the demand for automation of industrial processes.
The industrial IoT market is projected to observe a healthy CAGR of around 9% over the forecast period, i.e., 2019-2026.
Moreover, the market held a market value of about USD 280 billion in 2018.
The market is estimated to grow at a significantly high rate on account of increased applications of Internet of Things in the manufacturing and industrial sector.
Increasing applications of IoT for the operation of various processes at factories is a major growth driving factor for the manufacturing segment in the market.Download Sample of This Strategic Report @https://www.researchnester.com/sample-request-2145On the basis of region, the industrial IoT (IIoT) market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East and Africa.
The global industrial internet of things (IIoT) market is estimated to accrue USD 750 Billion during the forecast period (2018-2023), affirms Market Research Future (MRFR).
IIoT is based on the idea of broad-spectrum internet connectivity to specific business processes that make physical products for business sectors.IIoT is used across several industries such as energy/utilities, mining and metals, aviation, manufacturing, logistics, oil and gas, transportation, and various other industries.
Apart from this, growing investments by various industries in smart technologies to improve operational efficiency also boost the market growth.Industrial Internet of Things (IIoT) Market SegmentAccording to the report, the global industrial IoT market has been segmented on the basis of component, deployment, connectivity, and end-user.
The types of hardware are sensors and radio-frequency identification (RFID), industrial robotics, camera systems, smart meters, 3D printing, flow and application control device, distributed control systems and others.
The market segment of hardware component is projected to account for the largest market share owing to accelerated number of connected devices, increasing application areas of hardware components, and utmost utilization of available resources.
The types of software are manufacturing execution, product life cycle management systems, supervisory control and data acquisition (SCADA) systems, distributed management system, retail management software, and others.
The kitchen has always been a natural home for gadgets, and it's the room which is most likely to be transformed by the Internet of Things. Here’s a summary of how the IoT world could play out when it comes to your kitchen.
