Global Industrial Internet of Things Technology, Solutions and Services Markets 2022-2027: Combining AI with Digital Twins, Cloud Robotics and Teleoperation to Generate Substantial Market Opportunities

DUBLIN, May 03, 2022–(BUSINESS WIRE)–The “Industrial Internet of Things Market by IIoT Technologies, Solutions and Services 2022-2027” report has been added to from ResearchAndMarkets.com offer.

This report assesses IIoT technologies, companies, applications, services and solutions. The report includes IIoT market size with forecast covering global and regional IIoT outlook as well as IIoT by vertical, software, hardware and services for the period 2022 to 2027. The report also assesses the technologies supporting the IIoT market, including 5G, AI, and advanced data analytics.

The world is now experiencing its fourth stage of industrial evolution, which involves a marriage of physical and cyber systems for even greater productivity as well as new business models hitherto incomprehensible. This 4th stage (also known as Industry 4.0) builds on the evolution of the previous three stages.

The fourth stage, also called Industry 4.0, depends on the maturation of a few important technologies, including adaptive manufacturing, AI, big data analytics, IoT, and advancements in robotics. Industry 4.0 solutions will benefit many industries, including traditional manufacturing as well as all other industry verticals that rely on effective and efficient business automation.

However, the United States has been experiencing an industrial depression since the year 2000, largely due to the relocation of significant parts of the industrial base to China. The industrial sector represents a smaller share of the economy than most other developed countries. Other countries in a similar status are France and the United Kingdom. As a result, there is an ever pressing need in developed countries to improve the efficiency and effectiveness of production.

Industrial Internet of Things (IIoT) solutions are poised to transform many verticals including healthcare, retail, automotive and transportation. For many industries, the IIoT will dramatically improve reliability, production, and customer satisfaction. While the IIoT will initially enhance existing processes and augmented current infrastructure, the ultimate goal will be to realize entirely new and significantly improved products and services.

Successful companies will be those that understand how and where IoT technologies and solutions will drive opportunities for operational improvements, new and improved products and services, and entirely new business models.

The IIoT will significantly improve reliability, production and customer satisfaction. Initially focusing on improving existing processes and augmenting current infrastructure, the IIoT will build on and integrate with certain key technologies, devices, software and applications.

The IIoT involves a substantial breadth and depth of technologies, many of which require careful integration and orchestration. Leading managed service providers are looking beyond basic Machine-to-Machine (M2M) communications to more advanced services that involve IoT platform and device mediation, data management, and application coordination.

M2M messaging itself is moving towards a flatter hierarchical structure with advanced computer networks, which will require managed privacy and security services to ensure data integrity and asset protection. M2M communications for the IIoT will become increasingly necessary for businesses and industrial organizations that want to take full advantage of IoT technologies.

Data analytics solutions provide the means to process large amounts of unstructured machine-generated data captured by M2M systems. As the IIoT progresses, there will be an increasing amount of unstructured machine data. The growing amount of machine-generated industrial data will create substantial opportunities for AI-enabled unstructured data analytics solutions.

The industrial sector is rapidly integrating IIoT solutions with many of the aforementioned technologies. This convergence will have a profound effect on industrial processes and will create opportunities for the transformation of products and services. In some cases, entirely new business models will result from integration with wireless broadband and cloud technologies, as the “as a service” model turns many existing products into services. Additionally, IIoT solutions are moving from transparency to operations to proactive maintenance and remediation.

An obvious area of ​​improvement for industrial companies will be teleoperation and telerobotics, as various industries will take advantage of the ability to control real machines/equipment by virtual objects through master control interfaces. We see teleoperations being transformed by digital twin technologies, which refer to the mapping of the physical world to the digital world in which IoT platforms and software are leveraged to create a digital representation of physical objects or assets. . The digital twin of a physical object can provide data about the asset, such as its physical state and disposition.

The use of 5G for IIoT networks will be of great importance for certain verticals such as agriculture, logistics and manufacturing. The combination of robotics, teleoperation, and cloud technologies is poised to transform business operations, industrial processes, and consumer services across many industry-related verticals.

All of these industrial sectors will also need efficient and effective IT systems. There is substantial opportunity for both a centralized cloud-as-a-service model for software, platforms, and infrastructure, as well as industry-leading cloud computing solutions. The combination of robotics, teleoperation and cloud technologies is poised to transform industrial processes across many verticals.

The industrial sector is rapidly integrating IIoT solutions with many of the aforementioned technologies. This convergence will have a profound effect on industrial processes and will create opportunities for the transformation of products and services. In some cases, entirely new business models will result from integration with wireless broadband and cloud technologies, as the “as a service” model turns many existing products into services. Additionally, IIoT solutions are moving from transparency to operations to proactive maintenance and remediation.

Select report results:

  • Total global IIoT market to reach $988 billion by 2027, driven by manufacturing and healthcare

  • IIoT in manufacturing alone will reach $178.2 billion globally by 2027, growing 17.9% CAGR

  • IIoT DaaS Market for Enterprise and Industrial Segments to Reach $11.5 Billion Globally by 2027

  • IIoT data storage to reach $103.4 billion globally by 2027, led by manufacturing and healthcare verticals

  • Private wireless implementations will be a major driver of IIoT adoption across all major production-focused industries

  • North America will be the first region followed by Europe, led by Germany, and Asia-Pacific, led by Japan and South Korea.

  • Combine AI with digital twins, cloud robotics and teleoperation to generate substantial market opportunities for systems integration

IIoT business analysis

  • ABB

  • Accenture

  • AG International

  • ARM Holdings

  • ATO

  • B+B SmartWorx

  • Bosch

  • C3, Inc.

  • Cisco System Inc.

  • International Digi

  • Echelon Corporation

  • Elecsys Corporation

  • General Electric

  • Hitachi

  • IBM

  • Oracle

  • CTP

  • Real-time innovation

  • Rockwell Automation

  • SAP

  • Sensata Technologies

  • Siemens

  • wind river

  • feel of the world

  • Wovyn LLC

For more information on this report, visit https://www.researchandmarkets.com/r/yct8gr

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220503005763/en/

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