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302 billion IIoT devices in 2020

   

302 billion IIoT devices in 2020

According to market research company IHS Markit, the Industrial IoT (IIoT) market is expected to surpass 302 billion devices in 2020. On the other hand, their research also found that almost 50% of all deployed IIoT projects do not deliver their expected value.

Alex West, Senior Principal Analyst Industrial Technology, says: "One of the primary challenges in bringing IIoT solutions to manufacturing is equipment connectivity. Although legacy equipment lacking this is still prevalent, industrial vendors are now ensuring their equipment can support IIoT, with the proportion and range of devices supporting Ethernet a major focus."

Field devices including sensors account for almost a third of all IIoT devices. The introduction of solutions supporting analytics of Big Data and employing Aritifical Intelligence solutions depend on accessing quality data leading to a greater demand for more sensors, collecting more varied datasets, and then having the capability to collect this data somewhere it can be analysed (whether locally or on the cloud).

Looking at the industrial communications global market, IHS Markit finds that there are 124.6 mio. connected nodes today, and that the projected annual growth from 2018-2023 is 12.5%. Profinet and EtherNet/IP are the dominant Industrial Ethernet protocols and together accounted for 56.5% of all newly connected Ethernet nodes in 2018.

IHS Markit covers this market with its Industrial IoT Intelligence Service, which provides a tool to track industrial readiness and market development and to shed light on IIoT marketplace success. Market data and information available include components, connected automation devices & connected machines databases, quarterly industry perspective reports, and end-user analysis.

technology.ihs.com/iiot-research



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