Industrial IoT Market to Register Highest CAGR in APAC through 2021, Informs Mind Commerce in Its New Report Recently Uploaded at MarketPublishers.com
20 Oct 2016 • by Natalie Aster
LONDON – The industrial IoT is expected to considerably improve reliability, production volumes and also customer satisfaction in the years to come. In the medium term, process improvement benefits are anticipated to extend beyond just cost savings to identification of entirely novel business models and service offerings as traditional products tend to transform to services.
Formerly focusing on improvement of existing processes and augmentation of the current infrastructure, industrial IoT is expected to evolve in the years ahead to include next generation procedures and methods, for instance, 'teleoperation' and tele-robotics, amid other spheres relying upon interface and control of real objects by virtual objects. By 2021, the market for artificial intelligence in industrial IoT Tele-robotics and Teleoperation is expected to climb to USD 19 billion.
The North American market for industrial IoT is predicted to register a 13.1% CAGR through 2021, and by the end of forecast period will touch USD 599 billion. Europe’s industrial IoT market is anticipated to be the highest with revenues exceeding USD 625 billion in 2021. Meantime, APAC is likely to register the fastest growth (a 14.4% CAGR) in the next 5 years, driven majorly y smart factory deployments in India and China.
The insightful report “Industrial Internet of Things (IIoT): Market Opportunities for Solutions, Products, and Services 2016 - 2021” worked out by Mind Commerce Publishing gives a comprehensive guide to the global industrial IoT market, offering valuable information on the existing technologies, solutions, services, application and companies. It highlight the current market scenario at various geographical scales, explores the major factors influencing the market growth and development, points out lucrative growth areas and emerging opportunities and also presents forecasts for the market through 2021.
Other topical reports by Mind Commerce are offered at this page.