The market for IIoT Data Collection and Device Management Platform is anticipated to grow at significant CAGR during forecast period. The rising need for centralised asset monitoring and predictive maintenance, growing demand for automation in industries, proliferation of IoT devices, rise in the number of cost-effective and intelligent connected devices and sensors, increased government initiatives in IoT R&D activities, and the emergence of IPv6 are the major factors driving the growth of the IIoT Data Collection and device management platform market.
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IoT devices and control systems are commonly used to track assets and monitor industrial tools; in order to acquire and exchange real-time data, as finished goods move down the production line. There is a tremendous volume of operational data collected from IoT-enabled devices and equipment in companies across many industries, which may be examined for valuable insights and thus used for centralised monitoring of the production environment. Predictive maintenance is extremely important in any company for controlling factory equipment. It is beneficial to know the status of equipment in various industries, in order to determine when the maintenance on the equipment should be performed. Furthermore, predictive maintenance is utilised to thoroughly assess the equipment’s condition, including vibration analysis, sound level measurements, oil analysis, and other equipment parameters.
For the proper operation of installed IoT devices and data management, the IIoT platform market necessitates specialised IT technical skills and experience to be implemented and managed effectively. The ineffective use of IIoT platforms is hampered by a lack of operational and IT expertise. Network administration is growing increasingly complex for IT teams as more IoT devices are added to networks. This is due to the growing network complexity and data flow to the cloud. Adequate expertise is required for business activities such as data collection, interoperability, integration, and data analysis, in addition to the successful use of IIoT platforms. As a result, existing employees must be taught on a regular basis to handle this advanced technology. As a result, the absence of a technically qualified workforce is impeding the IIoT platform’s implementation.
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Market Coverage
- Segment Covered-
o By Product Type
o By End User
Competitive Landscape :
Advantech, Cisco, GE, IBM, Microsoft, Nokia and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Detailed Segmentation:
IIOT Device Collection and Device Management Market, By Product Type
- Data Collection
- Device Management
IIOT Device Collection And Device Management Market, By End User
- Process Industries
- Discrete Industries
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