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Whatever Happened to the IoT? Industrial IoT, Connected Applications and Digital Transformation Market Analysis, Forecast and Trends Report

  • ID: 5441007
  • Report
  • February 2021
  • Region: Global
  • 45 pages
  • Cambashi

FEATURED COMPANIES

  • ABB
  • Brompton
  • EE (BT)
  • Honeywell
  • NTT
  • SAP
  • MORE
For over 30 years, the publisher has been analyzing the engineering and manufacturing software market. In 2010 it began to study embedded software, which is fundamental to the IoT.

As interest in IoT grew, the authors decided to analyze this market in full and in 2017 undertook a self-financed research project into the landscape for industrial IoT and Digital Transformation. This involved interviewing key executives in senior strategy and operational roles in major providers. The resulting report: ‘The Industrial Internet of Things and Digital Transformation; Market Landscape and Trends’, published in January 2018, provided a perspective onto the market from both technical and commercial viewpoints.

The next step was an industry-led Charter Program to agree on market segmentation and provide the basis for accurately measuring the global market size and composition in the Digital Transformation and industrial IoT space. Further analyst research resulted in the IIoT/Connected Applications Observatory - a dataset that tracks size and estimates growth of the market across three geographic regions: AMER, APAC and EMEA. This can create confusion amongst buyers because so many companies are involved and there are applications in so many industries. Measuring the market is a challenge but - using quantitative research and a methodology honed by 35 years of analyzing engineering, industrial and manufacturing markets - the publisher created this ‘Observatory’ to measure the global industrial IoT/Connected Applications market and provide forecasts based on econometric sources.

What we’re hearing


Two-way briefings with leading software providers and investors have given the author insights into experiences at the cutting edge, including the impact of the COVID-19 pandemic (also discussed in Section 4).

Actual comments include:

  • Some far-sighted customers (e.g. semiconductor manufacturers) invest in downturns so that they’re ready for the next boom cycle
  • Customers are doubling down on digital investment and we’re taking a more consultative approach to be more flexible
  • The pandemic is shortening the move to digitalization from years to months
  • Process manufacturing, transportation, Utilities and CPG are relatively unaffected
  • Sectors such as automotive see this as a ‘pause’; product development and sales will take up the slack when the pandemic effects are managed. This is also what happened after the GFC
  • Solution providers are reacting to the crisis by moving into needed areas - pharma, medical device manufacturing (e.g. ventilators)
  • We’re seeing re-shoring of manufacturing back to North America
  • AEC (Architecture, Engineering, Consulting) is holding up in 2020. The new US administration will join the ROW in infrastructure stimulus so that 2021 will get back to growth
  • IT companies can easily work remotely - and even be more efficient/effective
  • IoT application developers are partnering with 'OT' industrial automation providers to provide factory/production solutions
  • Front line workers need digital solutions too.
Questions that software providers and investors are asking

The IoT/Connected Applications is difficult to define, track and analyze, so it is unsurprising that there are many unanswered questions from both software Providers and Investors strategists such as:

Software providers:

  • To plan our sales strategy, we need to know which sectors are projected to grow most strongly, by Market Area and Region, and where new demand is likely to emerge?
  • To plan our software product development, we need to know which Use Cases are most popular, which are growing fastest and what new Use Cases are likely to emerge?
  • For our marketing strategy and communications, we need to know the strongest providers, emerging competitors, and possible disrupters in the sectors we cover? We also need to understand how customers can obtain business value from our solutions?
  • To plan our implementation services and partner strategy, we need to know how IIoT/Connected Applications and key technologies will be delivered?

Investors need to know:

  • Which companies are strong but underperforming?
  • Where the disrupters are likely to come from?
  • Who are the top 5 or 10 performers in their sector/region?
We trust that this report will throw some light on many of these open questions.

Objectives


The objectives of this 2021 report are to:

  • Present a credible landscape view of the IIOT and how it may evolve.
  • Capture the main trends and market drivers.
  • Identify key players and possible disrupters.
  • Describe the effect of the COVID-19 pandemic.
  • Use metrics from IIoT and Connected Applications research - combined with other econometric sources - to make evidence-based market forecasts.
  • Predict possible scenarios for the evolution of the industry.
This will assist global software providers in marketing and sales planning and assist investors in targeting investment opportunities.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ABB
  • Brompton
  • EE (BT)
  • Honeywell
  • NTT
  • SAP
  • MORE
1. Introduction and Objectives
  • Introduction
  • What We’re Hearing
  • Questions That Software Providers and Investors Are Asking
  • Objectives
2. IoT, Connected Applications and Digital Transformation
  • The Battleground Between IoT Technology and Digital Transformation
  • The Six Layers of Industrial IoT
  • Technologies That Change the Scope of the Industrial IoT
  • Use Cases and Applications - Primary and Emerging
3. Understanding the ‘Ecosystem’
  • Why An Ecosystem is Needed
  • Market Opportunities and the Ecosystem
  • Connected Applications and Market Areas
  • The Ecosystem of Solution Providers
  • How the Ecosystem is Evolving
4. Market Economics
  • Economic Measures
  • Why OT and IT Companies Are Investing
  • The Impact of Covid-19; New Market Drivers
5. Measuring and Forecasting the Market
  • How We Measure the Market
  • Connected Applications Are Taking Off
  • Forecasts by Connected Market Area, Industry and Region
  • Who Has Exceeded Expectations and Who Has Disappointed
6. Challenges and Trends
  • Partnering and M&A
  • The Distinction Between IT, OT and Other Providers is Blurring
  • Users Will Access IoT Solutions from Within Their Existing, Trusted Enterprise System
  • IIoT Solutions Are Increasingly Part of a Bigger Solution
  • Disrupters Will Emerge from ‘Left Field’
  • Edge Computing
7. Conclusions, and Questions for Business, Investment & Marketing Planning
Note: Product cover images may vary from those shown

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FEATURED COMPANIES

  • ABB
  • Brompton
  • EE (BT)
  • Honeywell
  • NTT
  • SAP
  • MORE
The industrial IoT market is of great interest to software providers and investors as it is growing so quickly across so many different areas. There were at one time numerous statistics showing huge, growing revenues, numbers of sensors, connections, and possible applications, that the promise verged on hype.

This report addresses the question ‘whatever happened to the industrial IoT?’

The report focuses on the industrial IoT through the Connected Applications software market - which is where most revenue is generated - by large, global, ‘enterprise’ software providers, mainly from an OT or IT background, with a long tail of smaller players. Although ‘pure’ IoT technology providers are growing quickly, they are less significant.

Connected Applications are packaged software solutions that bridge from IoT-connected devices to other information systems, and typically leverage AI (Artificial Intelligence), ML (Machine Learning) and Analytic capabilities. They help drive the expanding Digital Transformation market, which almost always requires IoT technology. A sign that the market is maturing is that investment in IoT technologies is rarely standalone. Most industrial automation projects now involve IoT, and Connected Applications can deliver this as part of a broader solution - often involving enterprise systems such as ERP, PLM/CAx, MOM and BIM .

The market is still very fragmented, with Providers large and small, from many different backgrounds, some totally focused on Connected Applications and others have entry-level operations or are ‘testing the water’. By defining nine Connected Market Areas and focusing on the most frequent Use Cases, we have been able to measure the market, and use this information to make forecasts and identify trends with the granularity expected by strategists.

Our research indicates that Connected Applications are becoming pervasive and support a growing market that Providers should assess carefully.
Note: Product cover images may vary from those shown
  • Analog Devices
  • ABB
  • Accenture
  • Amazon AWS
  • ARM
  • AT&T
  • Autodesk
  • Bosch
  • Brompton
  • Capgemini
  • Credit Suisse
  • CyberX
  • Dassault Systèmes
  • Enovia
  • Dell EMC
  • Deloitte
  • Deutsche Telekom
  • EE (BT)
  • Emerson
  • EY
  • GE Digital
  • Google
  • GreenQ
  • Hitachi
  • Honeywell
  • HPE
  • IBM
  • IFS
  • KPMG
  • LYFT
  • Microsoft
  • Mitsubishi Electric
  • NTT
  • Nvidia
  • Oracle
  • OSI Inc.
  • PTC
  • Rockwell
  • RTI
  • Samsung
  • SAP
  • Schneider Electric
  • Siemens
  • Software AG
  • T-Mobile/Sprint
  • Taos
  • Texas Instruments
  • Uber
  • Verizon
  • Vodaphone
  • Wipro
Note: Product cover images may vary from those shown

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