The global Industrial IoT shields market is estimated to cross $XXm by 2023, growing at CAGR XX% during the forecast period 2018-2023. Rising demand for application level protection of gateways, industrial PCs, and other devices, coupled with autonomous security of multiple policy based security mechanisms is estimated to drive the overall industrial IoT shields market.
What is Industrial IoT Shields?
Industrial IoT shields offers embedded device level security and control across the entire IoT supply chain. With security shields mechanisms, device manufacturers, system integrators and IoT network operators can secure and manage devices across various industry verticals. Also, there is no need for any security expertise, testing resources and no need to change device functionality. Industrial IoT has the potential to fill the gaps in terms of efficiency, performance of industrial processes and avail better results in terms of revenue, output and production.
Advancements in low-power and reliable wireless communications, coupled with developments in sensors and energy harvesting technologies are creating huge opportunities for efficient and secured communication with industrial IoT shield mechanisms. In many industrial applications, wireless sensor networks are much economical than wired solutions due to their amalgamated issues of troubleshooting, maintenance, and repair services.
This report incorporates an in-depth assessment of industrial IoT shields market by sensor types, application modules, industry verticals, and geography. The major industry verticals encompassed in the scope includes energy, transportation, oil & gas, agriculture, and others.
What are the major industry verticals for Industrial IoT Shields?
The Manufacturing industry comprise of all the industrial facilities concerned with the conversion of raw materials into finished goods. It is one of the major end user of industrial IoT shields technology, owing to gradual shift towards secured and advanced manufacturing techniques across the globe. The automation market has penetrated rapidly in the manufacturing sector across the developed economies. ‘Advanced Manufacturing’ refers to the incorporation of latest cutting edge technologies in manufacturing sector to improvise on products and processes.
Market Research and Market Trends of Industrial IoT Shields
With Shield IoT, system integrators can fill the security gap and ensure rapid deployment. However, in developing Asian and Latin American countries, lack of sophisticated automation technologies, requirement to fabricate quality products in order to compete in global market, has compelled the manufacturing sector in these countries to adopt advanced industrial IoT shields techniques quickly.
Increasing open cloud platforms that stores operation data and provide access to connected applications plays crucial role in context of collecting and analyzing real-time telemetric data for further analysis. It also helps to connect the products, and machines that harnesses the data generated with advanced analytics embedded. Therefore, shield IoT is suitable for deployment across a wide range of industries including manufacturing, transportation, smart cities, healthcare, energy and smart buildings.
Smart grids networks are expanding rapidly across the globe and increased efforts in R&D activities are being made on developing smart meters. According to General Electric, North America’s spending on smart grid market was raised to $103 billion in 2017 from $41 billion in 2014. Thus, the automation of energy infrastructure has led to the rising investment in smart grid technology which will also fuel the industrial IoT shields market.
Collection and analysis of device metadata to detect the anomalous activity ensures complete visibility for all security and operational events. Therefore, the growing use of smart sensors and flow control devices in oil and gas, and agricultural industries will drive the adoption of industrial IoT shields mechanisms. However, the problems with interoperability drive up the cost, and have resulted in slower adoption in this cost sensitive market.
Who are the Major Players in Industrial IoT Shields?
The companies referred to in the market research report includes Maxim Integrated (U.S.), ST Microelectronics (Switzerland), Arduino (U.S.), and others.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on, to gauge the impact forces and potential opportunities of the market. Apart from this, the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on, to comprehend the prevailing market dynamics at present, and its impact during the forecast period 2018-2024.
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Key Takeaways from this Report
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