Vietnam Industrial Internet of Things (IIoT) Platform Market is growing due to rising demand for large-scale Industrial IoT solutions by 2028
Growing technological advancements in semiconductor
& electronic devices is driving the Industrial Internet of Things (IIoT)
market for the forecast period across Vietnam.
According to
TechSci Research report, Vietnam Industrial Internet of Things (IIoT)
Platform Market - By Region, Competition Forecast & Opportunities, 2018-2028
the Vietnam
Industrial Internet of Things (IIoT) Platform Market is expected to register
robust growth during the forecast period, 2024-2028. The Vietnam
Industrial Internet of Things (IIoT) platform market is the growing through the
forecast period attributable to the increasing availability of low-cost
processors and sensors that can provide real-time access to information, as
well as technological advancements, are expected to drive growth. Furthermore,
the growing need to improve operational competence, as well as significant
collaboration among key players, is fueling market growth. Several techniques
are also being developed to create a unified digital-human workforce, which is
expected to provide significant opportunities for growth.
The Vietnam Industrial
Internet of Things (IIoT) market has seen a steady increase in IoT adoption
over the last few years, owing to a variety of factors such as technological
advancements in wireless network technologies and widespread use of Wi-Fi
connectivity for machine sensors in factories. Furthermore, the development of
smart cities and smart transportation leads to increased adoption of IoT, which
is expected to propel the industrial internet of things industry forward in the
upcoming years.
Furthermore, technology is
enabling organizations to use advanced analytics and methodologies such as
Machine Learning (ML) and Artificial Intelligence (AI) to deliver prescriptive
and predictive analytical solutions, allowing the sector to capitalize on new
opportunities. The continuous learning process associated with ML and AI, which
is free of interruptions and downtime, makes it a more sought-after tool in the
Industrial Internet of Things (IIoT) market, driving market growth over the
forecast period.
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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.
In terms of platform type, the device management platform will have the
largest share of the Industrial Internet of Things (IIoT) platform market in
2022, as remote management of IIoT devices is required as the country's IIoT
deployments involve millions of linked devices. Predictive maintenance is
expected to hold the largest share in application area for the Vietnam Industrial
Internet of Things (IIoT) Platform Market in 2022. It is a function of the Industrial
Internet of Things (IIoT) and is feasible to predict machine problems using
real-time data gathered from numerous sources, allowing businesses to take
corrective action before the machine malfunctions. The manufacturing sector is
expected to hold the largest share for end-user vertical of the Vietnam Industrial
Internet of Things (IIoT) platform market in 2022, owing to rising demand for
IoT in modern manufacturing facilities where the concept of smart manufacturing
has been around since its inception. Northern Vietnam region is the
fastest-growing region in the Vietnam Industrial Internet of Things (IIoT)
Platform market in 2022 due to the developing IT industry and government
initiatives.
Key market
players in the Vietnam Industrial Internet of Things (IIoT) Platform Market include:
- 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
Recent
Development
- Arm
Limited introduced two new solutions, Arm Cortex-M85 and Cortex-A, in April
2022. These new products and solutions are expected to help the company provide
better customer solutions, attract new customers, and accelerate revenue growth
across the country.
- Cisco
Systems, Inc. developed an advanced IoT Control Center platform in March 2022
to help improve service reliability and lower operational costs. This
advancement is expected to assist the company in diversifying its solution
portfolio and providing higher-quality solutions.
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“The Industrial Internet of Things (IIoT) provides
numerous opportunities in automation, optimization, intelligent manufacturing
and smart industry, asset performance management, maintenance, industrial
control, transitioning to an on-demand service model, new ways of serving
customers, and the creation of new revenue models, the more mature goal of
industrial digital transformation. Several organizations have reached a high
level of maturity in their IoT investment, with businesses planning to spend
the majority of their IT budgets on IoT projects over the next three years.
Other Industry 4.0 technologies, such as cloud computing, big data analytics,
next-generation security, and robotics, would benefit from such investment.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
Vietnam Industrial Internet of Things (IIoT) Platform Market By
Platform Type (Device Management Platform, Application Management Platform and
Connectivity Management Platform), By Application Area (Predictive Maintenance,
Business Process Optimization, Asset Tracking & Management, Logistics &
Supply Chain Management and Others), By End User Vertical (Manufacturing,
Energy, Healthcare, Metals & Mining, Retail, Others), By Region,
Competition Forecast & Opportunities, 2028 has assessed the Vietnam Industrial
Internet of Things (IIoT) Platform market's future development potential and
provides data and information on market size, structure, and projected market
growth. The report's goal is to give current market knowledge and assist
decision makers in making informed investment decisions. Furthermore, the study
identifies and analyses emerging trends, as well as key drivers, constraints,
and opportunities in the Vietnam Industrial Internet of Things (IIoT) Platform
market.
Contact
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Email: [email protected]
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