Industrial IoT - Worldwide

Definition:

The Industrial IoT (IIoT) refers to use of internet to control and optimize the industrial machinery environment such as the one found in factories, warehouses, and transportation systems. IIoT involves connecting machines, equipment, and other devices to the internet and each other, allowing them to gather and exchange data in real-time, and help in management of various aspects of industrial operations, including production lines, inventory management, equipment maintenance, and energy use.

Additional information:

The Internet of Things market compromise of revenue and revenue growth as the key performance indicators. The market consists of revenue generated through selling of hardware (such as sensors, chips and other hardware), platforms (IoT platforms, security software and other software), connectivity (cellular, LoRa, SigFox and other connectivity) and services (equipment & system integration and maintenance). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

The key market players include General Electric (GE), Siemens, Schneider Electric and Bosch.

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