IIoT Data Collection and Device Management Platform: Introduction
- Industrial Internet of Things (IIoT) is becoming popular across the globe. An IIoT data collection and device management platform is a combination of hardware and software, which assists and supports various applications of different sectors, using the internet to connect devices and equipment.
- An IIoT platform is a rapidly rising segment of IoT technology. IIoT consists of IoT data analytics, collection of functions for edge device management, connectivity solutions, and modern sensor technologies that augment industrial operations and industrial equipment with predictive maintenance, remote monitoring, and extensive device data analytics.
- The global IIoT data collection and device management platform market is projected to expand at a rapid pace during the forecast period, due to advancement in technologies in various sectors across the globe.
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Global IIoT Data Collection and Device Management Platform Market: Dynamics
Global IIoT Data Collection and Device Management Platform Market: Key Drivers
- Surge in demand for OTA (over-the-air) firmware updates among end-users is a major factor likely to accelerate the IIoT data collection and device management platform market in the next few years. OTA allows software and firmware updates to devices via mobile broadband, Wi-Fi, and from a remote location, without impacting the runtime of the system.
- Increasing adoption of cloud and edge computing technologies among various sectors is projected to boost the demand for IIoT data collection and device management platforms across the globe.
- Growing adoption of distributed applications, smart technologies, and advent of 5G is also anticipated to boost the market.
- Currently, various sectors are focused on implementation of Industry 4.0, which is expected to create new opportunities for the IIoT data collection and device management platform market during the forecast period.
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Global IIoT Data Collection and Device Management Platform Market: Restraints
- Technology fragmentation and increasing cybersecurity threats is the major factor projected to hinder the global IIoT data collection and device management platform market in the next few years.
- Absence of uniform IIoT standards for interoperability is also anticipated to hamper the market during the forecast period.
Impact of COVID-19 on the Global IIoT Data Collection and Device Management Platform Market
- Increasing cases of COVID-19 across the globe is resulting in economic slowdown. Developed countries are strongly affected by this pandemic. Manufacturing or production of goods have been temporarily suspended all over the world. Businesses have been adversely impacted in most countries due to partial or full lockdown. Hence, COVID-19 has triggered the whole focus of businesses toward Industry 4.0. In the current scenario, the two areas that have become more important for businesses today are investing in new products and services, and focus on adoption and implementation of digital technologies that constitute the Industrial 4.0 revolution. This in turn is projected to indirectly boost the global IIoT data collection and device management platform market during COVID-19 or in the next few years.
North America to Hold a Major Share of the Global IIoT Data Collection and Device Management Platform Market
- In terms of region, the global IIoT data collection and device management platform market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global IIoT data collection and device management platform market in 2019. The U.S. is the key market in the region due to the increasing adoption of latest technologies such as 5G, cloud computing, edge computing, and artificial intelligence (AI) by end-users. Additionally, favorable government regulations, support, and heavy investments by numerous well-established organizations are expected to boost the IIoT data collection and device management platform market in the North American region.
- The IIoT data collection and device management platform market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to increasing adoption of smart cities and the increasing investment by governments toward IoT initiatives across China, Japan, Singapore, Australia, and India in the region.
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Global IIoT Data Collection and Device Management Platform Market: Competition Landscape
Several local, regional, and global players are active in the IIoT data collection and device management platform market with a strong presence. Hence, the market is fragmented in nature. Rapid technological advancements have created significant opportunities in the global IIoT data collection and device management platform market. Market players are increasingly focusing on collaboration, mergers, and acquisition activities with technology partners to develop innovative and advanced solutions in order to improve their offerings and market reach.
Key Players Operating in the Global IIoT Data Collection and Device Management Platform Market Include:
- Advantech Co. Ltd.
- Aeris Communications Inc.
- Cisco Systems Inc.
- General Electric Co.
- Huawei Investment & Holding Co. Ltd.
- International Business Machines Corporation
- Microsoft Corporation
- Moxa Inc.
- Nokia Corporation
- Robert Bosch GmbH
Global IIoT Data Collection and Device Management Platform Market: Research Scope
Global IIoT Data Collection and Device Management Platform Market, by Component
- Software
- Data Collection
- Device Management
- Services
Global IIoT Data Collection and Device Management Platform Market, by Enterprise Size
- Small & Medium Enterprise
- Large Enterprise
Global IIoT Data Collection and Device Management Platform Market, by End-user
- Agriculture
- Automotive
- Transportation & Logistics
- Energy & Utilities
- Healthcare
- Retail
- Consumer Electronics
- BFSI
- Manufacturing
- Others
Global IIoT Data Collection and Device Management Platform Market, by Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- France
- U.K.
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
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