Industrial Internet of Things

Industrial IoT Devices, Software, and Services:
Global Market Analysis and Forecasts

Managers in nearly all industries regularly evaluate the latest digital technologies to drive growth, lower costs, improve margins, and develop new revenue streams. A suite of technologies collectively known as the Industrial Internet of Things (IIoT) is emerging to do just that. This platform is part of the overall IoT megatrend influencing businesses of all sizes and industrial sectors, including utilities. Significant opportunities exist for companies to leverage IIoT technologies for both internal operational gains and end-customer benefits.

However, IIoT solutions can appear overwhelming to managers unsure how to harness the array of hardware, software, and service choices. Industrial managers face additional costs, complex technologies, big data, and uncertain outcomes. The result is a confused potential customer base and a market searching for greater traction. Yet, the market drivers for IIoT are compelling, since the platform enables more efficient use of energy as equipment makes intelligent adjustments to energy consumption and lowers operational costs through enhanced predictive and preventive maintenance. IIoT supports the transformation of a business so it can offer customers enhanced services and improved experiences and helps increase worker safety and reduce component and data management costs. According to Navigant Research, revenue from annual global shipments of IIoT devices is expected to grow from $47.9 billion in 2017 to $129.3 billion in 2027.

This Navigant Research report examines the emerging global IIoT market and provides practical guidelines regarding how companies can implement IIoT hardware, software, and services. The study analyzes the key market drivers and inhibitors, technologies, and regulatory frameworks related to IIoT. Global market forecasts, segmented by region and sector, extend through 2027. The report also examines regional IIoT trends, select vendor solutions, and IIoT case studies in eight industry sectors.

Key Questions Addressed:
  • What key trends are shaping the industrial IoT (IIoT) market?
  • What are the key drivers and inhibitors of the IIoT market?
  • What is the revenue forecast for devices, software, and services associated with IIoT?
  • Which regions and industrial sectors are likely to see the most growth from IIoT?
  • What approach should stakeholders take to exploit opportunities from the IIoT trend?
Who needs this report?
  • Industrial Internet of Things (IIoT) device, software, and services vendors
  • Digital security companies
  • IT managers
  • IIoT industry groups and alliances
  • Regulators
  • Investor community

Table of Contents

1. Executive Summary

1.1   Introduction

1.2   Market Conditions

1.3   Market Forecast

2. Market Issues

2.1   Introduction

2.2   Definition of Industrial IoT

2.2.1   IIoT Platforms Enable Insights, Future Applications

2.3   Market Drivers

2.3.1   Fourth Industrial Revolution

2.3.1.1    Industrie 4.0

2.4   Market Inhibitors

2.5   Regulations and the IIoT

2.5.1   United States

2.5.2   Europe

2.5.3   Asia Pacific

2.6   IIoT Vendor Choices

2.6.1   Platforms for Optimizing Processes

2.6.2   Sampling of IIoT Vendor Solutions

2.6.2.1   IBM Watson

2.6.2.2    GE Digital: Predix

2.6.2.3    SAP Leonardo

2.6.2.4   PTC ThingWorx

2.6.2.5    Investigate Several IoT Platforms among a Crowded Space

2.7    Technology Issues

2.7.1   IIoT Hardware

2.7.2   Harnessing Data, Analytics Poses Biggest Challenge

2.7.2.1    Data Management

2.7.2.1.1   Cloud Solutions

2.7.2.2   Analytics

2.7.3   Communications and Protocols

2.7.3.1   More Choices Coming

2.7.4   Overcoming IIoT Security Issues

2.8   Case Studies

2.8.1   Agriculture: WaterForce Improves Efficiency

2.8.2   Mining (O&G): Cheniere Energy Alters Processes

2.8.3   Utility: Alpiq Transforms Itself

2.8.4   Healthcare: Boston Medical Center Improves Productivity

2.8.5   Manufacturing: United Parcel Service Expands into 3D Printing

2.8.6   Commercial: Beijing Builds a Smart Stadium

2.8.7   Education: Shawnee Mission Schools Adopts Digital Learning Environment

2.8.8   Transportation: Seattle Tackles Difficult Traffic

2.9   Regional IIoT Trends

2.9.1   North America

2.9.2   Europe

2.9.3   Asia Pacific

2.9.4   Rest of World

3. Market Forecasts

3.1   Introduction

3.1.1   Forecast Methodology, Assumptions

3.2   Global IIoT

3.2.1   Agriculture

3.2.2   Mining (Including Oil&Gas)

3.2.3   Utilities

3.2.4   Healthcare

3.2.5   Manufacturing

3.2.6   Commercial

3.2.7   Education

3.2.8   Transportation

3.3   Conclusions and Recommendations

4. Acronym and Abbreviation List
5. Table of Contents
6. Table of Charts and Figures
7. Scope of Study, Sources and Methodology, Notes

List of Charts and Figures

  • IIoT Platform
  • IBM’s IIoT Solution
  • GE’s Predix IIoT Solution
  • SAP’s Leonardo IIoT Solution
  • PTC’s ThingWorx IIoT Solution
  • IIoT Vendor Ecosystem
  • Industrial IoT Device Revenue by Region, World Markets: 2017-2027
  • Industrial IoT Device Shipments by Region, World Markets: 2017-2027
  • Combined Industrial IoT Device, Software, and Service Bundles Revenue by Sector, World Markets: 2017-2027
  • Agricultural IoT Device Revenue by Region, World Markets: 2017-2027
  • Mining IoT Device Revenue by Region, World Markets: 2017-2027
  • Utilities IoT Device Revenue by Region, World Markets: 2017-2027
  • Healthcare IoT Device Revenue by Region, World Markets: 2017-2027
  • Manufacturing IoT Device Revenue by Region, World Markets: 2017-2027
  • Commercial IoT Device Revenue by Region, World Markets: 2017-2027
  • Education IoT Device Revenue by Region, World Markets: 2017-2027
  • Transportation IoT Device Revenue by Region, World Markets: 2017-2027

List of Tables

  • Sampling of IIoT Protocols, Specifications
  • IIoT Deployment Checklist
  • Industrial IoT Device Shipments by Region, World Markets: 2017-2027
  • Industrial IoT Device Shipments by Sector, World Markets: 2017-2027
  • Industrial IoT Device Revenue by Region, World Markets: 2017-2027
  • Industrial IoT Device Revenue by Sector, World Markets: 2017-2027
  • Industrial IoT Device Installed Base by Region, World Markets: 2017-2027
  • Industrial IoT Device Installed Base by Sector, World Markets: 2017-2027
  • Industrial IoT Average Device Penetration by Region, World Markets: 2017-2027
  • Industrial IoT Average Device Penetration by Sector, World Markets: 2017-2027
  • Industrial IoT Software and Service Bundles by Region, World Markets: 2017-2027
  • Industrial IoT Software and Service Bundles by Sector, World Markets: 2017-2027
  • Industrial IoT Software and Service Bundles Revenue by Region, World Markets: 2017-2027
  • Industrial IoT Average Software and Service Penetration by Sector, World Markets: 2017-2027
  • Agricultural IoT Device Shipments by Region, World Markets: 2017-2027
  • Agricultural IoT Device Revenue by Region, World Markets: 2017-2027
  • Agricultural IoT Device Installed Base by Region, World Markets: 2017-2027
  • Mining IoT Device Shipments by Region, World Markets: 2017-2027
  • Mining IoT Device Revenue by Region, World Markets: 2017-2027
  • Mining IoT Device Installed Base by Region, World Markets: 2017-2027
  • Utilities IoT Device Shipments by Region, World Markets: 2017-2027
  • Utilities IoT Device Revenue by Region, World Markets: 2017-2027
  • Utilities IoT Device Installed Base by Region, World Markets: 2017-2027
  • Healthcare IoT Device Shipments by Region, World Markets: 2017-2027
  • Healthcare IoT Device Revenue by Region, World Markets: 2017-2027
  • Healthcare IoT Device Installed Base by Region, World Markets: 2017-2027
  • Manufacturing IoT Device Shipments by Region, World Markets: 2017-2027
  • Manufacturing IoT Device Revenue by Region, World Markets: 2017-2027
  • Manufacturing IoT Device Installed Base by Region, World Markets: 2017-2027
  • Commercial IoT Device Shipments by Region, World Markets: 2017-2027
  • Commercial IoT Device Revenue by Region, World Markets: 2017-2027
  • Commercial IoT Device Installed Base by Region, World Markets: 2017-2027
  • Education IoT Device Shipments by Region, World Markets: 2017-2027
  • Education IoT Device Revenue by Region, World Markets: 2017-2027
  • Education IoT Device Installed Base by Region, World Markets: 2017-2027
  • Transportation IoT Device Shipments by Region, World Markets: 2017-2027
  • Transportation IoT Device Revenue by Region, World Markets: 2017-2027
  • Transportation IoT Device Installed Base by Region, World Markets: 2017-2027
  • Combined Industrial IoT Device, Software, and Service Bundles Revenue by Region, World Markets: 2017-2027
  • Combined Industrial IoT Device, Software, and Service Bundles Revenue by Sector, World Markets: 2017-2027

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