Vietnam Industrial Internet of Things (IIoT) Platform Market Competition Forecast & Opportunities, 2028

The Vietnam Industrial Internet of Things (IIoT) Platform Market is anticipated to grow at a high CAGR in the forecast period of 2024-2028 due to the rising investments in the industry 4.0

The Vietnam Industrial Internet of Things (IIoT) Platform Market is anticipated to grow at a high CAGR in the forecast period of 2024-2028 due to the rising investments in the industry 4.0, government by giving incentives to promote industrial automations, and the need for high productivity and efficiency. The integration of the Internet of Things (IoT) in manufacturing and industrial facilities is referred to as the industrial Internet of Things. IoTs achieve an elevated level of operational technology (OT) and information technology (IT) integration. The Industrial IoT encompasses a wide range of use cases, industries, and applications. Initially focusing on operational efficiency optimization and rationalization/automation/maintenance, with an important role in the convergence of IT and OT. Furthermore, while some technologies, architectural frameworks, and applications across all IoT layers differ between Industrial IoT and Consumer IoT, a typical large Industrial Internet of Things (IIoT) project will leverage several forms of connectivity and solutions, some of which are also used in consumer IoT.

The primary focus of most Industrial Internet of Things deployments and the majority of organisations remains operational efficiency and cost optimization. As IDC put it, the key drivers are efficiency optimization and linking islands of automation. However, a more comprehensive approach with additional revenue and innovation targets is required. On the other hand, industrial organisations must start somewhere to advance in Industrial Internet of Things (IIoT) maturity and possibility/opportunity reality. Given the market challenges and low-hanging fruit in many industrial markets, it is natural that connectivity in the Industrial Internet of Things (IIoT) space is initially focused on a limited set of goals and benefits.

The Rapid Adoption of Artificial Intelligence (AI) and the Internet of Things (IoT) in the Manufacturing Sector is Driving the Market in the Forecast period
The primary focus of most Industrial Internet of Things deployments and the majority of organisations remains operational efficiency and cost optimization. As IDC put it, the key drivers are efficiency optimization and linking islands of automation. However, a more comprehensive approach with additional revenue and innovation targets is required. On the other hand, industrial organisations must start somewhere to advance in Industrial Internet of Things (IIoT) maturity and possibility/opportunity reality. Given the market challenges and low-hanging fruit in many industrial markets, it is natural that connectivity in the Industrial Internet of Things (IIoT) space is initially focused on a limited set of goals and benefits. Manufacturers can connect their machines to the internet using Industrial IoT. Connected machines provide manufacturers with real-time insight into machine health and key performance indicators (KPIs). Overall equipment effectiveness (OEE) and overall process effectiveness (OPE) are two examples (OPE). This data assists manufacturers in identifying and correcting the causes of unplanned downtime. They can also increase machine utilisation by emphasising the importance of preventive equipment maintenance. Vibrations, temperature, humidity, and other conditions can be monitored by IoT-connected environmental sensors. They are capable of detecting conditions that have a negative impact on operations or cause excessive wear and tear on equipment.

Self-driving Cars are on the Horizon are Fuelling the Market Growth

With the impending introduction of autonomous or self-driven trucks and passenger automobiles, the automotive industry is experiencing a quick upheaval. Trucks and other vehicles that can connect with one another through data collecting and cloud storage will be developed using Internet of Things (IoT) technologies. Global sales of electric vehicles increased by 2.1 million in 2019, bringing the total number of electric vehicles on the road to 7.2 million. According to a recent report from the United Nations Economic Commission for Europe, self-driving cars provide comfort, safety, and effectiveness while minimising their environmental impact (UNESE). This is anticipated to result in the formation of market for autonomous trucks and other different vehicles based on an Industrial Internet of Things (IIoT) platform.

Market Segments

The Vietnam Industrial Internet of Things (IIoT) Platform market is segmented into platform type, application area, end user vertical, and region. Based on platform type, the market is divided into device management platform, application management platform, and connectivity management platform. Based on application area, the market is categorized into predictive maintenance, business process optimization, asset tracking & management, logistics & supply chain management, and others. Based on end user vertical, the market is segregated into manufacturing, energy, healthcare, metals & mining, retail, and others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Northern Vietnam, Southern Vietnam and Central Vietnam.

Market Players

Major market players of Vietnam Industrial Internet of Things (IIoT) Platform Market are IBM Vietnam Company, Microsoft Vietnam Company Limited, Cisco Systems Vietnam Company Limited, Intel Products Vietnam Co., Ltd., SAP Vietnam Company Limited, Siemens Ltd. (Vietnam), Oracle Vietnam Pte., Ltd., Schneider Electric Vietnam Company Limited, Hitachi Systems Vietnam Co., Ltd, HPE Vietnam. Businesses that are engaged in the market use organic strategies including product launches, mergers, and partnerships achieve good market growth.

Report Scope

In this report, Vietnam Industrial Internet of Things (IIoT) Platform Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Vietnam Industrial Internet of Things (IIoT) Platform Market, by Platform Type

• Device Management Platform
• Application Management Platform
• Connectivity Management Platform

Vietnam Industrial Internet of Things (IIoT) Platform Market, by Application Area

• Predictive Maintenance
• Business Process Optimization
• Asset Tracking & Management
• Logistics & Supply Chain Management
• Others

Vietnam Industrial Internet of Things (IIoT) Platform Market, by End User Vertical

• Manufacturing
• Energy
• Healthcare
• Metals & Mining
• Retail
• Others

Vietnam Industrial Internet of Things (IIoT) Platform Market, by Region:

• Northern Vietnam
• Southern Vietnam
• Central Vietnam.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Vietnam Industrial Internet of Things (IIoT) Platform Market

Available Customizations

The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

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