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

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–(COMMERCIAL WIRE)–The “Industrial Internet of Things Market by IIoT Technologies, Solutions and Services 2022 – 2027” Report has been added to ResearchAndMarkets.com offering.

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

The world is now undergoing its fourth stage of industrial evolution, involving a combination of physical and cyber systems for even greater productivity, as well as new business models that were previously incomprehensible. This fourth stage (also known as Industry 4.0) is based on the evolution of the previous three stages.

The fourth stage, also known as Industry 4.0, hinges on the maturation of some important technologies including adaptive manufacturing, AI, big data analytics, IoT, and advances in robotics. Industry 4.0 solutions will benefit many industries, including traditional manufacturing, as well as any other industry vertical that relies on efficient and effective business automation.

However, the US has been in an industrial depression since 2000, due in large part to the offshoring of significant portions of the industrial base to China. The industrial sector represents a smaller portion of the economy than most other developed nations. Other countries with a similar status are France and the United Kingdom. Consequently, there is a pressing need within developed countries for improvements in productive efficiency and effectiveness.

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

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

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

IIoT involves a substantial breadth and depth of technologies, many of which require careful integration and orchestration. Leading managed service providers are looking beyond core machine-to-machine (M2M) communications to more advanced services involving mediation of IoT devices and platforms, data management, and application orchestration.

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

Data analytics solutions provide the means to process vast amounts of unstructured machine-generated data captured by M2M systems. As 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 support of 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 create opportunities for the transformation of products and services. In some cases, entirely new business models will result from integration with cloud and broadband wireless technologies, as the “as-a-service” model transforms many existing products into services. Furthermore, IIoT solutions are evolving from transparency towards operations to proactive maintenance and remediation.

A clear 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 using virtual objects via master control interfaces. We see digital twin technologies transforming teleoperations, which refers to mapping 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 vertical sectors of the industry, 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 industry sectors will also require efficient and effective computer systems. Substantial opportunity exists for both a centralized cloud “as a service” model for software, platforms and infrastructure and for cloud computing solutions for industry. The combination of robotics, teleoperation and cloud technologies is poised to transform industrial processes in many industry 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 create opportunities for the transformation of products and services. In some cases, entirely new business models will result from integration with cloud and broadband wireless technologies, as the “as-a-service” model transforms many existing products into services. Furthermore, IIoT solutions are evolving from transparency towards 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 worldwide by 2027, growing at 17.9% CAGR

  • IIoT DaaS market for enterprise and industrial segments to reach $11.5 billion globally by 2027

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

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

  • North America will be the leading region, followed by Europe, led by Germany, and Asia Pac, led by Japan and South Korea.

  • Combination of AI with digital twins, cloud robotics and teleoperation to generate significant market opportunities for systems integration

IIoT Enterprise Analysis

  • KNITTING

  • Accent

  • AGT International

  • arm holdings

  • ATOS

  • B+B SmartWorx®

  • the forest

  • C3, Inc.

  • cisco system inc.

  • digital international

  • Echelon Corporation

  • Elecsys Corporation

  • General Energy

  • Hitachi

  • IBM

  • Oracle

  • PTC

  • Real-time innovation

  • Rockwell Automation

  • SAP

  • Sensible Technologies

  • Siemens

  • river of wind

  • world detection

  • Wovyn LLC

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

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

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