Research and Markets has released a new report that predicts the industrial Internet of Things market will achieve “tremendous growth†by 2020.
The report notes that the transportation and manufacturing sectors are already applying the IoT technologies to their operations, Research and Markets said Dec. 4.
“Energy and power along with, oil and gas industries are deploying industrial IoT solutions primarily, for asset monitoring and predictive maintenance,†Research and Markets added.
The market research firm profiles GE, Intel, Cisco, IBM, Robert Bosch GmbH and ARM Holdings as among the tier-one market players.