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Industrial Internet of Things Market in Asia-Pacific : With the Physical World Closely Knit with the Virtual World, Most Aspects in the Manufacturing Value Chain will Improve
This private market insight provides information on the industrial Internet of Things (IoT) market in the Asia-Pacific region. It specifically looks at industries and how IoT will impact them. It discusses the major trends and the prevailing scenarios in Asia-Pacific with regard to IoT. The study also provides the major drivers and restraints. There is much interest shown by corporations in IoT, especially because Asia-Pacific is seen as an emerging region offering plenty of opportunities.
-The popularity of the Industrial Internet of Things (IIoT) in Asia-Pacific is largely attributable to informed manufacturing, which leads to a transparent and streamlined manufacturing process.
- There will be a steady increase in IoT spending in Asia-Pacific—from $ billion in 2015 to almost billion in 2020.
- Convergence of emerging technologies, such as Big Data with IoT, will be a driving factor aiding adoption.
- Although Europe is seen to hold a major edge in terms of industries embracing IoT, several countries in Asia-Pacific (such as India, Japan, Singapore, and Australia) will be receptive to adopting these technologies as they look to improve their global standing and become more competitive.
- The manufacturing industry will be quicker to adopt new technologies as competition intensifies. This trend is already being witnessed in a number of emerging economies (such as India, China, and Japan).
- Improving the speed and reliability of communication, enforcing uniform protocols across the organization, and maintaining a robust security platform are vital for ensuring IoT adoption.
- One of the biggest impediments to IoT adoption is the fear of data theft, loss of privacy, and security. This calls for greater co-operation between automation and instrumentation vendors and software development corporations.
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