Industrial IoT Market Nears $132 Billion in 2020: Technavio

Pedro Hernandez¬ for Datamation: ¬ The Internet of Things (IoT) is expected to have a major, efficiency- and productivity-enhancing impact on how manufacturers and other companies in industrial settings conduct businesses. A new forecast from market research firm Technavio paints a rosy picture for IT vendors that specialize in industrial IoT.

According to the analyst group, the market for industrial IoT software and services will reach nearly $132 in 2020. Between now and then, the market will expand at a compound annual growth rate (CAGR) of 7 percent.

In terms of demand, Technavio has identified the Asia-Pacific (APAC) region as the largest market for industrial IoT.

Last year, the industrial IoT market generated $38 billion in sales in the region, a number that will reach $54 billion in 2020. APAC countries are investing heavily, including South Korea, which plans to pour over $3.6 billion into the IoT by 2020. ¬ Cont'd...

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

Convey parts, materials, waste - with no moving parts!

Convey parts, materials, waste - with no moving parts!

EXAIR's compressed air operated Line Vac connects to standard hose or tube to create a powerful in-line conveyor. The compact design features large throat diameters for maximum throughput capability. Eleven sizes in aluminum and ten in stainless steel are suited to a wide variety of transfer applications. Line Vac conveyors are ideal for moving large volumes of material over long distances. A small amount of compressed air is injected through directed nozzles to produce a vacuum on one end and high output flows on the other, with instantaneous response. The material flow rate is easily controlled with a pressure regulator. An optional bracket permits easy mounting. No moving parts or electricity assures maintenance free operation. Line Vacs are available in a number of styles, materials, and sizes, including Line Vac, Threaded Line Vac, Heavy Duty Line Vac, Sanitary Flange Line Vac and Light Duty Line Vac. See the Line Vac in action at https://exair.co/watchlinevac?pub=184