The global IIoT platform market is anticipated to grow at a significant CAGR during 2022-2030. The Industrial Internet of Things refers to the extension of Internet of Things in industrial settings. Growing deployments of machine communications, and technologies such as big data enable industries to have better efficiencies which is propelling the demand of IIoT platform market. With the growth in Industry 4.0, demand for system integration and optimization has increased which is further bolstering the growth of the IIoT platform market. As big data and analytics are transforming cyber physical systems, the deployment of IIoT is becoming integral. Smart cities and smart factories initiative is also propelling the growth of the IIoT platform market worldwide.

Recent Developments:

In August 2021, Ivanti, US based software company, acquired an industrial internet of things platform from the WIIO Group, one of Ivanti Wavelink’s partners based in France. The acquisition will enable Industry 4.0 and secure the supply chain by providing a 360-degree view of the IIoT equipment, and track and remediate issues. The industries of today are highly embracing the smart devices, sensors, camera and robots in order to deliver new capacities. Therefore, the acquisition will help the company to handle the complexities. General Logistics Systems (GLS) is one of the end users of this IIoT solution. The company is a leading express parcel delivery partner in Europe and is focused on accelerating its digital transformation. Thus, the IIoT solution is enabling GLS with their Transport Management System (TMS) and their vehicles’ on-board systems to trace parcel shipments and enhance operational decision-making.

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In December 2022, the Canadian supply chain technology company SpotLite360 acquired industrial IoT platform TrackX. The companies were already partners for commercializing TrackX’s IIoT products in digital agriculture, and healthcare industries. By the current acquisition, the aim is to focus on the development of its IIoT platform particularly to provide traceability and visibility of Environmental, Social and Governance (ESG) efforts, and end-to-end supply chain management. The companies thus believe that the acquisition will lead to increased growth in the development of solutions employing IoT and Blockchain.

In February 2021, IXON, industrial IIOT solutions provider launched new cloud 2 platform with major upgrade with improved collaboration features that allows users more freedom to customize and set up the platform. The company is accelerating the IIoT transition in the machinery industry by providing a secure cloud technology that can make IIoT platform directly accessible to machine makers. IXON’s IIoT platform helps users to create their own IoT portal, and set alerts to remotely troubleshoot the problems if any. Such factors are likely to boost the growth of the global IIoT platform market at a significant rate.

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