Cambashi releases market analysis report that shows an $11bn market growing at 19.8% CAGR from 2020-24, identifies leading players, and analyses trends.
The industrial IoT market is of great interest to software providers and investors as it is growing so quickly across so many different areas. At one time, numerous reports predicting enormous revenues and huge numbers of sensors, connections, and possible applications, tipped the promise of IIoT to the verge of hype.
Cambashi’s 2021 report addresses the question ‘whatever happened to the industrial IoT?‘ by focusing on Connected Applications software – which increasingly provides the foundation for industrial IoT implementations and Digital Transformation projects.
Most revenue from IIoT is generated by large, global, ‘enterprise’ software providers – mainly from an OT or IT background – with a long tail of smaller players. Although ‘pure’ IoT technology providers are growing quickly, they are less significant.
The market is still very fragmented, with providers large and small, from many different backgrounds. Some are totally focused on Connected Applications while others have entry-level operations or are ‘testing the water.’
By defining nine Connected Market Areas and the most frequent Use Cases, Cambashi made substantial investments in research and analysis to measure the market, make accurate forecasts and identify trends with the granularity expected by strategists and IIoT experts.
Our research indicates that Connected Applications are becoming pervasive and support a growing market that providers should assess carefully.
This 2021 report:
- Describes the IIoT landscape and how it will evolve.
- Indicates six main trends and critical market drivers.
- Identifies key players and possible disrupters.
- Describes the effect of the COVID-19 pandemic.
- Uses metrics from Cambashi’s IIoT and Connected Applications research – combined with other econometric sources – to make evidence-based market forecasts.
- Predicts key scenarios that will occur during the evolution of the industry.
- Provides a vital tool that global software providers can use for marketing and sales planning.
- Provides investors critical insights to target investment opportunities.