The global market for industrial Internet of Things is fragmented in nature with a high level of competition among the prominent players over the next few years, states a research study by TMR. The development of new products and technological advancements in the field are predicted to offer growth opportunities for the market players in the next few years. The increasing number of strategic partnerships and collaborations is likely to encourage the growth of the global industrial Internet of Things Market in the next few years. In addition to this, the rising research and development activities in this field and the increasing investments are estimated to ensure the growth of the market in the near future. Some of the prominent players engaged in the industrial Internet of Things market across the globe are Softweb Solutions Inc., General Electric Company, Robert Bosch GmbH, Siemens AG, IBM Corporation, Schneider Electric SE, Accenture PLC, ABB Ltd., Sasken Technologies Ltd., Tech Mahindra Ltd., Emerson Electric, ZIH Corp., Intel Corporation, and NEC Corporation.
As per the study by TMR, the global market for industrial Internet of Things market is predicted to reach a value of US$ 991,562.0 Mn by the end of 2026. The market is expected to register a massive 24.30% CAGR between 2018 and 2026. Geographically, North America is expected to hold a huge share of the industrial Internet of Things market, thanks to the growing adoption of advanced automation solutions. In addition to this, the emerging economies in this region is projected to offer growth opportunities in the coming years.
This post was originally published on Crypto Journal