The Asia Pacific IIoT Platform Market would witness market growth of 15.1% CAGR during the forecast period (2021-2027). Manufacturing units have been using computer visualization in order to perform assurance tasks for a couple of years now. Though these days, the manufacturing process demands more information, and the management is not willing to pay employees just to type the information.
AI along with computer vision is tackling this limitation, but it is impractical to tally the information from various sources without the help of IoT platforms. Thus, all the parts of the manufacturing facilities are embedded with sensors and linked through IIoT platforms.
There are various enterprises across the world which is witnessing a huge insurgency to obtain a change in the kind of administrations that are being delivered to their customers. Leading players operating industrial IoT platforms are focusing on arrangements of administrations that are more beneficial, practical, and just as relevant. In addition, the market is undergoing new trends and dispatches regarding the notion of the web of things. This is revealing the customer base to a high-edge and dynamic innovation. Media transmission combined with broadband administrations is becoming the substance of the web of things, creating a robust and fulfilled customer base.
In any kind of manufacturing sector, supply chain management has become one of the essential processes because it includes integrating and coordinating the flow of raw materials and finished goods both within and outside the enterprise. Supply chain management activities include everything from sourcing production and logistics to the coordination of these activities. IIoT platforms hold a great value in supply chain management, as they provide reliable data management and visualization abilities for manufacturing companies. With the help of IIoT platforms integrated supply chain, it becomes possible to develop a smart, interconnected network that connects together various tiers of suppliers, makers, service vendors, distributors, and customers physically around the world.
The China market dominated the Asia Pacific Food & Beverages IIoT Platform Market by Country 2020, thereby, achieving a market value of $191.6 million by 2027. The Japan market is showcasing a CAGR of 14.9% during (2021 - 2027). Additionally, The India market is anticipated to witness a CAGR of 16.3% during (2021 - 2027).
Based on Offering, the market is segmented into Platform (Without Services) and Services. Platform Type segment is further bifurcated across Device Management Platform, Application Enablement Platform and Connectivity Management Platform. Based on Application, the market is segmented into Asset Management, Business Process Optimization, Email, Supply Chain & Management and Automation Control. Based on Industry Vertical, the market is segmented into Energy & Utilities, Logistics & Transportation, Machine Manufacturing, Food & Beverages, Semiconductor & Electronics, Chemical & Materials, Automotive and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide IIoT Platform Market is Projected to reach USD 14.8 Billion by 2027, at a CAGR of 13.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Cisco Systems, Inc., Microsoft Corporation, Software AG, SAP SE, Hitachi, Ltd., Intel Corporation, Siemens AG, Accenture PLC, and PTC, Inc.
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