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Industrial IoT (IIoT) Market Worth $263.4 billion by 2027- Exclusive Report Covering Pre and Post COVID-19 Market Analysis and Forecasts by Meticulous Research®

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London, June 19, 2020 (GLOBE NEWSWIRE) — According to a new market research report titled, Industrial IoT Market by Component, Application (Robotics, Maintenance, Monitoring, Resource Optimization, Supply Chain, Management), Industry (Aerospace, Automotive, Energy, Healthcare, Manufacturing, Retail), and Geography – Global Forecast to 2027”, the industrial IoT market is expected to grow at a CAGR of 16.7% from 2019 to 2027 to reach $263.4 billion by 2027.
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Industrial IoT (IIoT) refers to a network of interconnected devices used for designing, maintaining, monitoring, optimizing, and analyzing the industrial operations to gain real-time insights and make effective decisions. The rise in the adoption of digital transformation by various industries is supporting the widespread use of IoT in the industrial sector. Thus, the market for industrial IoT has evolved immensely owing to various factors and revolutions taking place in the industrial sector worldwide. The growth in this market is mainly attributed to the factors such as extensive government support in encouraging digitalization across the industrial sectors, rise in adoption of industrial IoT devices, and growing adoption of cloud computing platforms. Also, the use of industrial IoT for predictive maintenance and rising number of data centers provides significant growth opportunities for the industrial IoT providers. However, the vulnerability issues with IoT devices along with the lack of technically skilled employees and lack of standardization in industry sectors concerning IoT are hindering the growth of this market.Impact of COVID-19 on Industrial IoT MarketThe COVID-19 pandemic has adversely hit many economies around the globe. The market for Internet of Things (IoT) technology in industrial sector has moderately been affected and as a result, Industrial IoT market is projected to witness slow recovery post COVID-19 pandemic. The combat measures including lockdowns and quarantine to fight COVID-19 have stopped various production processes across the industrial sector which led to the decline in adoption of IIoT to some extent. In addition, due to this pandemic, many manufacturers also faced issues associated with supply chain that hampered the adoption of IIoT technology. Thus, the less productivity, decline in adoption rate, and hampered production due to disruption of supply chain had affected the market growth to some extent.According to a recent survey by the National Association of Manufacturers (NAM), 80% of the manufacturers, in the U.S., expect their businesses to get affected by the pandemic situation in 2020. This led to a sluggish growth to around 2% of the U.S. and global tech market in 2020. These figures briefly describe the impact of COVID-19 on markets in the developed countries. However, this global pandemic situation has been testing organizations with their ability to sustain in the long race. Furthermore, investments, funding, partnerships, altruistic engagements, and collaborations in this market are expected to bring a brighter future to this market with a high growth rate in coming years.Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5102The global industrial IoT market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027. The market is segmented on the basis of component, application, industry vertical, and geography.Based on the component, the IIoT solutions segment is estimated to emerge as the largest shareholder during the forecast period in the overall industrial IoT market in 2020. The large share of this segment is mainly attributed to the increasing adoption of IoT enabled industrial automation and control systems. The growing need for real-time communication, following compliance with cybersecurity standards, and engaging IoT devices to the cloud-based platforms for performing operational analysis among the organizations is driving the growth of this segment. Further, this segment is also attributed to register fast growth during the forecast period owing to the growing investments and demand for customized IIoT solutions by the industries.Based on application, the predictive maintenance segment is estimated to command the largest share of the overall industrial IIoT market in 2020. The large share of this segment is mainly attributed to the high adoption of innovative IIoT solutions such as digital twin that assist in designing, managing, and predicting failure rate of the assets. Also, the predictive maintenance market is projected to witness high growth rate in coming years, owing to shift of organizations to digitally-driven asset management approaches. With the negative impact of COVID-19, industries are facing a sudden un-uniformity in workforce. Owing to this, the maintenance of big plant processes or operations has become a quite tedious task for manufacturers. As a result, more and more manufacturers and companies are expected to adopt industrial IoT for predictive maintenance in the coming years. However, the smart robotics segment is expected to witness rapid growth during the forecast period. The fast growth of this segment is attributed to the rapid proliferation of industrial automation under the fourth industrial revolution ‘Industry 4.0’. Besides, lack of skilled employees and their reduction in the number due to pandemic COVID-19 forced industries and organizations to change their existing strategy and reduce dependency. As a result, the significant investment for smart robotics and associated IoT is on the rise, which is expected to drive the smart robotics application with the fastest growth rate over the coming years.Quick Buy – Industrial IoT Market Research Report: https://www.meticulousresearch.com/buy_now.php?pformat=404&vformat=1196Based on end-user, the manufacturing segment is estimated to account for the largest share of the overall industrial IoT market in 2020. The large share of this segment is primarily attributed to the growing focus of organizations in reducing operational costs by incorporating advanced tools and techniques that assist in effectively managing the equipment. In addition, the provision of customized IIoT based solutions for predictive maintenance, remote monitoring, and asset optimization at affordable prices are triggering the growth of the IoT in manufacturing industry. Furthermore, the local government support for industrial automation and advent of Industry 4.0 is also helping manufacturing sector to emerge as the most dominating segment in industrial IoT market. However, the healthcare segment is expected to grow with the fastest CAGR during forecast period. Increasing demand for value-based healthcare facilities and adoption of newer technologies across the healthcare industry is driving the market for industrial IoT in healthcare. In addition, the proliferation of smart devices for health monitoring and fitness-related issues is driving the adoption of IoT technology in the industry.Geographically, Asia Pacific region is estimated to command the largest share of the global industrial IoT market in 2020. Moreover, Asia-Pacific region is also expected to witness rapid growth during the forecast period, driven by the factors such as increasing adoption of automation and advanced technologies across a wide range of industries in China and Japan to counter the rising labor costs; favorable government initiatives across the region; and investments by major IIoT companies.The report also includes extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4 years. The industrial IoT market has witnessed number of agreements, collaborations, and partnerships in the recent years. For instance, in June 2019, the GE Digital announced collaboration with Wabtec (U.S.) to enhance commercialization of Predix OPM and APM in mining domain across key regions such as South Africa and Australia. Similarly, in January 2019, Microsoft Corp. collaborated with Kroger Co. to redefine the customer experience by Microsoft Azure, the retailer’s preferred cloud platform for Retail as a Service (RaaS).The global industrial IoT market is consolidated and dominated by few major players, namely General Electric Digital (U.S.), IBM Corporation (U.S.), PTC, Inc. (U.S.), Microsoft Corporation (U.S.), Cisco Systems, Inc. (U.S.), Robert Bosch GmbH (Germany), Dassault Systemes (France), ABB Ltd. (Switzerland), Huawei Technologies Co. Ltd (China), Kuka AG (Germany), Rockwell Automation Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), and Intel Corporation (U.S.), among others.To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/industrial-iot-market-5102/Scope of the Report
Industrial IoT Market, by Component                                  
Solutions                             Industrial Automation and Control Systems                   Product Lifecycle ManagementNetwork ComponentsSensors and ActuatorsData Management and AnalyticsOthers                                 ServicesProfessional ServicesManaged ServicesConnectivityWired TechnologiesWireless TechnologiesIndustrial IoT Market, by Application                      Smart Robotics    Predictive MaintenancePlant MaintenanceRemote MonitoringAsset and Resource OptimizationLogistics and Supply chain OptimizationInventory ManagementProduction Flow Management                         Industrial IoT Market, by Industry Vertical                Aerospace & DefenseAutomotive          Agriculture           Energy & UtilitiesHealthcareManufacturingTransportationOil & GasRetailOthers                                 Industrial IoT Market, by GeographyNorth AmericaU.S.CanadaEuropeGermanyU.K.FranceItalySpainRest of EuropeAsia-PacificJapanChinaIndiaSouth KoreaRest of Asia-PacificLatin AmericaMiddle East and AfricaDownload Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5102Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research.phpRelated Reports:Agriculture Drone Market by Product (Hardware (Rotary Blade, Fixed Wing, Hybrid), Software), Application (Precision Agriculture, Livestock Monitoring, Smart Greenhouse, Irrigation, Precision Fish Farming), and Geography – Global Forecast to 2025https://www.meticulousresearch.com/product/agriculture-drone-market-4986/Agriculture IoT Market by Component (Hardware, Software, Services), Application (Precision Farming, Smart Greenhouse, Livestock Monitoring, Smart Irrigation, Others), and Geography – Global Forecast to 2027https://www.meticulousresearch.com/product/agriculture-iot-market-5080/Digital Twin Market by Type (Asset, Process, System), Technology (Internet of Thing, Artificial Intelligence, Big Data Analytics, AR VR), End User (Automotive, Transport, Healthcare, Construction, Manufacturing, Retail) – Global Forecast to 2025https://www.meticulousresearch.com/product/digital-twin-market-5060/Automotive IoT Market by Platform (Data Management), Component (Sensor, GPS, Bluetooth, Wi-Fi), Data Converter (ADC), Connectivity (Embedded), End User (OEM), Application (ADAS, Fleet Management, Infotainment)– Global Forecast to 2025https://www.meticulousresearch.com/product/automotive-iot-market-5071/Digital Transformation Market by Technology (IoT, Cloud, Big Data, AI), Process Transformation (Customer, Operation, Product, Workforce), End-use Industry (Retail, Healthcare, Manufacturing, Insurance), Industry Size – Global Forecast to 2025https://www.meticulousresearch.com/product/digital-transformation-market-4980/About Meticulous Research®The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze and present the critical market data with great attention to details.Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Mr. Khushal Bombe
Meticulous Research®
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Artificial Intelligence

Oncolytics Biotech® Announces Upcoming Presentations at the American Society of Clinical Oncology Annual Meeting

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SAN DIEGO and CALGARY, AB, April 25, 2024 /PRNewswire/ — Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), a leading clinical-stage company specializing in immunotherapy for oncology, today announced the acceptance of two abstracts at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting, which is taking place from May 31 – June 4, 2024, in Chicago, Illinois. Details on the abstracts and poster presentation are shown below.

Title: Phase 1/2 randomized, open-label, multicenter, Simon two-stage study of pelareorep combined with modified FOLFIRINOX +/- atezolizumab in patients with metastatic pancreatic ductal adenocarcinoma.
Presentation Type: PosterAbstract Number: TPS4203Session Title: Gastrointestinal Cancer – Gastroesophageal, Pancreatic, and HepatobiliarySession Date and Time: June 1, 2024, 1:30 – 4:30 p.m. CTTitle: Pelareorep driven blood TIL expansion in patients with pancreatic, breast and colon cancer.Presentation Type: Online abstractAbstract Number: e14625
Abstracts will be published on the ASCO Annual Meeting website at 5:00 p.m. ET on May 23, 2024.
About Oncolytics Biotech Inc.
Oncolytics is a clinical-stage biotechnology company developing pelareorep, an intravenously delivered immunotherapeutic agent. Pelareorep has demonstrated promising results in two randomized Phase 2 studies in metastatic breast cancer and Phase 1 and 2 studies in pancreatic cancer. It acts by inducing anti-cancer immune responses and promotes an inflamed tumor phenotype — turning “cold” tumors “hot” — through innate and adaptive immune responses to treat a variety of cancers.
Pelareorep has demonstrated synergies with multiple approved oncology treatments. Oncolytics is currently conducting and planning combination clinical trials with pelareorep in solid and hematological malignancies as it advances towards registrational studies in metastatic breast cancer and pancreatic cancer, both of which have received Fast Track designation from the FDA. For further information, please visit: www.oncolyticsbiotech.com or follow the company on social media on LinkedIn and on X @oncolytics.
 
Company Contact
Jon Patton
Director of IR & Communication
[email protected]
 
Investor Relations for Oncolytics
Timothy McCarthy
LifeSci Advisors
+1-917-679-9282
[email protected]
 
 

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Internet of Things (IoT) Market to Expand at a Stellar 19.4% CAGR through 2031 | SkyQuest Technology

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WESTFORD, Mass., April 25, 2024 /PRNewswire/ — SkyQuest projects that the Internet of Things (IoT) Market will attain a value of USD 1572.37 billion by 2031, with a CAGR of 19.4% over the forecast period (2024-2031). Internet of Things (IoT) refers to the network of connected devices over the internet that are embedded with sensors and software. Growing adoption of automation around the world and advancements in connected device technologies are forecasted to be key factors driving the Internet of Things (IoT) market growth in the future.

Download a detailed overview:
https://www.skyquestt.com/report/internet-of-things-market
Browse in-depth TOC on “Internet of Things (IoT) Market”
Pages – 197Tables – 69Figures – 75Internet of Things (IoT) Market Overview:
Report Coverage
Details
Market Revenue in 2023
$ 380.6 billion
Estimated Value by 2031
$1572.37 billion
Growth Rate
Poised to grow at a CAGR of 19.4%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Component Type, Application, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Rising demand for connected healthcare and growing use of industrial automation solutions
Key Market Drivers
Advancements in connectivity and connected device technologies
 
 
Hardware is Estimated to Dominate the Global Market Share Owing to High Use of Hardware Components in IoT
Hardware components such as sensors and actuators are highly vital to the proper functioning of any kind of Internet of Things (IoT) device. Growing adoption of IoT devices in different industry verticals for various applications is promoting market growth via this segment. The development of new hardware solutions also helps this segment maintain its dominance.
Smart Agriculture is the Fastest-growing Segment Owing to Rising Adoption of Precision Agriculture Practice
Rising emphasis on improving agricultural yield and sustainability has resulted in the growing adoption of smart agriculture and precision agriculture practices. IoT devices play a crucial role in monitoring and controlling different elements of a smart agriculture setup that is mostly automated using different smart devices thereby contributing to the IoT market growth as well.
Growing Adoption of 5G Technology Allowing North America to Dominate the Global Internet of Things (IoT) Market
Rapid adoption of 5G technology and high use of cloud-based platforms are key factors allowing North America to lead the demand for Internet of Things (IoT) around the world. Surging investments in the research and development of advanced technologies and the presence of key tech giants such as Amazon, Google, IBM, and Microsoft also helps the dominance of this region. Canada and the United States remain the most lucrative markets for Internet of Things (IoT) companies in North America through 2031.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/internet-of-things-market
Internet of Things (IoT) Market Insights:
Drivers
Advancements in connectivity and connected device technologies.Growing demand for Industrial IoT (IIoT) solutions.Increasing number of smart cities and development of smart infrastructure.Restraints
Lack of standardization of IoT devices and technologies.Privacy and data security issues.Interoperability challenges and complex integration scenarios.Prominent Players in Internet of Things (IoT) Market
MicrosoftCisco SystemsIntelSiemens (Germany)AWS (US)Oracle (US)Qualcomm (UK)SAP (Germany)IBM (US)Google (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/internet-of-things-market
Key Questions Answered in Internet of Things (IoT) Market Report
What are the top drivers for Internet of Things (IoT) market going forward?Who are the leading Internet of Things (IoT) market players?Where will demand for Internet of Things (IoT) be high?Which component accounts for a dominant revenue share of the global Internet of Things (IoT) market?This report provides the following insights:
Analysis of key drivers (advancements in connectivity and connected device technologies, growing demand for industrial IoT (IIoT), development of smart infrastructure for smart cities, growing use of smart devices ), restraints (lack of standardization, complexities in integration, concerns regarding security and privacy of data), and opportunities (rising popularity of connected healthcare, increasing adoption of Industry 4.0, rising use of industrial automation), influencing the growth of Internet of Things (IoT) market.Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Internet of Things (IoT) market.Market Development: Detailed analysis of potential regions where the market has potential to grow.Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.Related Reports:
Global Internet of Things in Retail Market
Global Internet of Things (IoT) in Agriculture Market
Global Internet of Things (IoT) Microcontroller Market
Global IOT In Healthcare Market
Global IOT in Manufacturing Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 
Contact:
Mr. Jagraj Singh Skyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/

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Sapiens Unveils Enhanced Reinsurance and Analytics Solution Catering to Evolving Market Demands

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Latest version enhances operational efficiency, regulatory reporting, and strategic decision-making with robust business insights
ROCHELLE PARK, N.J., April 25, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the launch of its latest version of Sapiens ReinsuranceMaster.

The new release of Version 9 brings a multitude of enhancements and technology stack updates, designed to empower insurers and reinsurers with robust, enriched functionality to support business requirements. This includes automating global inter-company retrocession, facilitating U.S. NAIC statutory reporting (Schedule F), and real-time reinsurance allocation support (‘reinsurance as a service’).
The latest release offers a multitude of enhancements, with one of the standout features being the seamless integration of Sapiens Intelligence with Sapiens ReinsuranceMaster. This integration empowers users with advanced data capabilities and actionable insights through out-of-the-box reinsurance reports and analytics of the reinsurance portfolio’s performance.
In addition, the new release brings significant improvements to the user experience, with a revamped user interface, enhancements in processing performance through improvements and parallel processing mechanisms, improved scalability and operability. 
“With the growing significance of reinsurance in today’s volatile environment, our latest version of Sapiens ReinsuranceMaster with Sapiens Intelligence offers even greater value to insurers and reinsurers, catering to the ever-changing demands of this dynamic market,” said Roni Al-Dor, Sapiens President & CEO. “Leveraging the shared experience from our other products as well as requirements from our global client base, the solution is now very well-positioned to support global automation of complex reinsurance programs and provide management with insights into reinsurance performance as well as statutory reporting.”  
Sapiens ReinsuranceMaster is a comprehensive, single platform for large and multi-national reinsurance programs, providing full financial control and flexibility across all lines of business. The solution supports the entire range of reinsurance contracts, providing full support for all auditing requirements and a consolidated view of liabilities and risks, as well as helping prevent financial leakage.
Sapiens Intelligence, now a fully integrated component of Sapiens ReinsuranceMaster v.9, produces actionable insights to maximize the value of data and KPIs for smarter decision making, improving reinsurance business management.
About Sapiens  
Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. With more than 40 years of industry expertise, Sapiens’ cloud-based SaaS insurance platform offers pre-integrated, low-code capabilities across core, data, and digital domains to accelerate our customers’ digital transformation. Serving over 600 customers in more than 30 countries, Sapiens offers insurers across property and casualty, workers’ compensation, and life insurance markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit https://sapiens.com or follow us on LinkedIn  
Investor and Media Contact : Yaffa Cohen-Ifrah Sapiens Chief Marketing Officer and Head of Investor Relations Email: [email protected] 
Forward Looking Statements
Certain matters discussed in this press release that are incorporated herein and therein by reference are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the use of the words “anticipate,” “believe,” “estimate,” “expect,” “may,” “will,” “plan” and similar expressions. Such statements reflect our current views with respect to future events and are subject to certain risks and uncertainties. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to:  the degree of our success in our plans to leverage our global footprint to grow our sales; the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy; the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our lengthy and complex sales cycles, which do not always result in the realization of revenues; the degree of our success in retaining our existing customers or competing effectively for greater market share; the global macroeconomic environment, including headwinds caused by inflation, relatively high interest rates, potentially unfavorable currency exchange rate movements, and uncertain economic conditions, and their impact on our revenues, profitability and cash flows; difficulties in successfully planning and managing changes in the size of our operations; the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream; the challenges and potential liability that heightened privacy laws and regulations pose to our business; occasional disputes with clients, which may adversely impact our results of operations and our reputation; various intellectual property issues related to our business; potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers’ systems; risks related to the insurance industry in which our clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the coronavirus epidemic,  and fluctuations in currency exchange rates; and risks related to our principal location in Israel and our status as a Cayman Islands company.
While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under the heading “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, to be filed in the near future, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.
 
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