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Industrial IoT Market is expected to reach $344.7 Billion by 2026- An exclusive market research report by Lucintel
According to a recent study from Lucintel the industrial IoT market is projected to reach an estimated $344.7 billion by 2026 from $109.8 billion in 2020, at a CAGR of 21% from 2020 to 2026. Growth in this market is primarily driven by increasing demand for automation in manufacturing industry, increasing adoption for IoT and AI, rising awareness for safety and security, and standardization of IPv6.
Browse 86 figures / charts and 75 tables in this 160 – page report to understand trends, opportunities and forecast in Industrial IoT market by end use industry (manufacturing, transportation, energy, retail, healthcare, and others), connectivity (wired and wireless), component (solution and service), device and technology (sensors, RFID, industrial robotics, distributed control system, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Download sample report and view detailed table of content by clicking on below link https://www.lucintel.com/industrial-iot-market.aspx
“Wireless connectivity market is expected to remain the largest segment during the forecast period”
Based on connectivity, the industrial IoT market is segmented into wired and wireless. Lucintel forecasts that the wireless connectivity market is expected to remain the largest segment due to increasing usage of Wi-Fi, bluetooth, and cellular and satellite technologies.
“Within the industrial IoT market manufacturing segment is expected to remain the largest end use industry”
Based on end use industry, the manufacturing segment is expected to witness the largest segment over the forecast period due to predicative maintenance, demand for technology advancement and need for improved operation efficiency in various industries.
“Asia Pacific will dominate the industrial IoT market in near future”
Asia Pacific is expected to be the largest region with the largest market for industrial IoT, supported by growing urbanization, increasing internet penetration, and growing adoption of IoT in various industries in the region.
Major players of industrial IoT market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. PTC, SAP, Cisco, General Electric, and Siemens are among the major industrial IoT providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. We also have reports related to IoT in the area of blockchain IoT market (https://www.lucintel.com/blockchain-iot-market.aspx), automotive IoT market (https://www.lucintel.com/automotive-iot-market.aspx), and IoT sensor market (https://www.lucintel.com/iot-sensor-market.aspx). For a detailed table of contents on any one of the above reports please contact us at +1-972-636-5056 or email us at [email protected].
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SUNRATE joins Mastercard’s Priceless Planet Coalition
SINGAPORE, May 20, 2024 /PRNewswire/ — SUNRATE, an intelligent global payment and treasury management platform today announced it has joined Mastercard Priceless Planet Coalition in support of fighting climate change through funding the restoration of 100 million trees. This announcement is part of the global fintech’s efforts to contribute to a sustainable economy and improvement of the planet.
“The Priceless Planet Coalition works by uniting companies, communities and consumers in collective, coordinated climate action. By pooling resources, it’s possible to rapidly scale forest restoration work and environmental initiatives, while providing forward-thinking companies like SUNRATE with pre-existing infrastructure that easily – and cost effectively – allows them to have a tangible impact. It is this connectivity that makes the Priceless Planet Coalition different and more effective,” said Sandeep Malhotra, executive vice president, Products & Innovation, Asia Pacific, Mastercard.
Mastercard founded the Priceless Planet Coalition in January 2020 which is guided by climate science and forest restoration experts Conservation International (CI) and World Resources Institute (WRI). The Coalition employs rigorous science-based best practices for the selection, implementation and monitoring of forest restoration efforts.
“Tackling climate change is critical to our sustainability framework and studies have shown that reforestation is key to combating global warming, which in turn influences climate change positively. Therefore, we are proud to join this initiative and work together with Mastercard and other stakeholders to protect our planet and make our lives greener,” said Darren Thang, Head of Marketing of SUNRATE.
About SUNRATE
SUNRATE is an intelligent global payment and treasury management platform for businesses worldwide. Since its inception in 2016, SUNRATE is recognised as a leading solution provider and has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge proprietary platform, extensive global network, and robust APIs.
With its global business headquarters in Singapore and offices in Hong Kong, Jakarta, London and Shanghai, SUNRATE partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays and J.P. Morgan. To learn more about SUNRATE, visit https://www.sunrate.com/
View original content:https://www.prnewswire.co.uk/news-releases/sunrate-joins-mastercards-priceless-planet-coalition-302148961.html
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eWTP Arabia Capital’s Technology Fund I Recognized as Top Performing VC Fund in the Preqin League Tables
RIYADH, Saudi Arabia, May 19, 2024 /PRNewswire/ — eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to US$499 Million category by net Internal Rate of Return (IRR) for vintages between 2015-2020.
“We’re delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector,” expressed Jessica Wong, Founder and Managing Partner of eWTPA. “This milestone underscores the commitment of our team and the robustness of our investment strategy. It also underscores the significant growth potential of the Middle East and North Africa market, particularly in Saudi Arabia, warranting attention. As a pivotal driver of technological advancement in the region, we’re steadfast in our mission to empower entrepreneurs and deliver value to our investors.”
“Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem,” said Jerry Li, Founder and Managing Partner of eWTPA. “As eWTPA continues to grow and expand its investment portfolio, it remains committed to fostering innovation and driving positive change in Saudi, the GCC and the global emerging markets ecosystem.”
eWTPA has demonstrated exceptional performance, solidifying its position among industry leaders. This recognition underscores eWTPA’s commitment to identifying high-potential market opportunities and generating returns for its investors.
The Preqin League Tables are regarded as a comprehensive and authoritative ranking system for private equity and venture capital performance. Preqin, a leading data provider in the alternative assets industry, compiles these league tables based on various performance metrics, including net Internal Rate of Return (IRR) and other key indicators.
eWTPA’s success reflects its strategic approach to investing high-growth sectors in the MENA region. The firm’s portfolio includes a diverse range of companies poised to make a significant impact on their respective industries.
Acting as a bridge between Asia and the Middle East, eWTPA’s Technology Fund I has achieved significant success since its inception in 2019. The Fund has invested in over 18 companies, several of which have successfully established themselves in KSA, like J&T Express, Raha, Sahm and COFE.
About eWTPA:
Founded in 2019, eWTP Arabia Capital is an investment firm based in Saudi Arabia and China. Backed by marquee regional and international Sovereign Wealth Funds, Institutional investors, and family offices, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading international businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies, 13 of which have already established themselves successfully in KSA.
Media contact:
Haile Liao
+966 0530868568
[email protected]
Photo – https://mma.prnewswire.com/media/2416426/eWTP_Preqin.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ewtp-arabia-capitals-technology-fund-i-recognized-as-top-performing-vc-fund-in-the-preqin-league-tables-302149554.html
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