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.
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.
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.
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
- Data Collection
- Device Management
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
- Transportation & Logistics
- Energy & Utilities
- Consumer Electronics
Global IIoT Data Collection and Device Management Platform Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.