- The key vendors in the global industrial internet services market 2015-2019 are Accenture plc, Amazon Web Services Inc., AT&T Inc., Cisco Systems, GE Inc., IBM Corp., and TCS Corp.
London, 14 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global industrial internet services market 2015-2019. The need for a safe workplace is a key trend observed in this market. Wearable and connected sensors are now used to address the safety issues for workers across various industries. Nowadays, employees wear a wireless multi-gas detector, which is used to track exposure to harmful gases during their respective shifts. This market is expected to grow at a CAGR of 33.32% during the forecast period of 2014-2019.
Cost-effectiveness of the industrial internet services is the primary factor that promotes the prospects of growth in this market. Predictive maintenance, remote management, and product quality enhancement are some of the advantages of using industrial internet. Industrial internet facilitates the extraction of actionable insights that can lead to enhanced business productivity and efficiencies.
“For sectors such as healthcare, aviation, wind, power generation, power distribution, oil and gas, rail, manufacturing, and mining, big data is helping in analyzing sensor data and collecting data from industrial equipment such as turbines or oil refineries. Combining big data with the IoT allows a communicative transfer of real-time data between machines,” says Faisal Ghaus, Vice President of Technavio Research.
“The need to strategically analyze and monitor the information will ultimately have an impact on the global industrial Internet services market, which is predicted to grow at a rapid pace during the forecast period.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
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