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Collaboration Bubble in IoT Ecosystem to Create Niche Business Use-cases in Industries
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Industrial IoT (IIoT) has transitioned from being a trending buzzword to becoming a close reality, as organisations are stepping into the actual implementation phase. The progressive improvement in computer prowess, simultaneously backed by electronic advances in sensor technology, has led to an era of convergence by creating innumerable data points and allowing technology to make sense of it. Businesses are now in a race to convert raw machine and process data into actionable and useful insights in real time. This era of convergence, which would help human beings attain new levels of efficiency with readily available actionable information, is made possible by various functional elements, such as communication hardware, cloud storage, analytic tools, visualization, and user interface (UI) development tools that constitute the concept of Industrial IoT.IoT platforms are at the core of this revolution, providing users with the flexibility and tools needed to develop application-centric functions unique to each industry, and are emerging as a one-stop solution for all factory needs. This report analyses, compares, and benchmarks industrial IoT platforms to provide readers with a comprehensive view of the IIoT platform marketplace.This research service can be useful in understanding the central framework of IIoT platforms and the operations connecting factory equipment to the business-end of the organization. It also highlights the prevalent innovation hubs around the world that are burgeoning in various IIoT areas. Key technology and business trends influencing the evolution of industrial IoT platforms have also been discussed in this research service. In addition, it also profiles existing industrial IoT platforms by analysing their architecture, operating capabilities, customer groups, and future expansion strategies. This research service aims to benchmark the industrial IoT vendors to create clusters that will define the current market scenario. Various aspects such as product positioning, customer centricity, scalability, and cloud flexibility have been considered in this benchmarking process. The trend of various vertical industries such as oil and gas, transportation, and manufacturing towards adopting industrial IoT platforms and their future prospects have also been captured in depth. The study also carries an in-depth analysis of future opportunities in the various process, discrete, and hybrid industries. The business impact of analytics and a strategy to derive the most from IIoT platforms are some of the highlights of this research.This study also discusses the major economic trends, technological drivers, and their impact on market demand during the study period. The technology and business trends shaping the future of industrial IoT platforms in industries have also been discussed in detail in this study. This research service also aims to ascertain the importance and role of IIoT platforms in manufacturing and analyses market dynamics, challenges, and opportunities in the space. With groundbreaking innovation in artificial intelligence and cognitive algorithms, the factory environment is set to witness a massive transformation. Key questions answered in this study are:1. What is classified as an industrial IoT platform and what is the current industry scenario?2. What are the key trends shaping the market and who are the prominent IT-OT participants and start-ups offering disruptive solutions?3. How do the portfolios of key market participants compare against each other and where do they stand out from the competition?4. How is the value stream of industrial IoT platforms evolving? What are the exciting growth opportunities?
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