Cambashi, a global industry analyst and market consulting firm, specializing in the engineering and industrial software space, announced that the inaugural Cambashi Industrial IoT (IIoT) Observatory has been released. This global sizing study focuses on the emergence of connected applications, relying on critical industry input from leading providers to define the scope and segmentation of the market.
According to the organization, its key findings are:
- Connected applications are gaining traction in several key market areas.
- The global 2018 figures indicate major changes compared with 2017 such as a leap of 42% in total revenues and radical changes in the relative positions of leading providers, pointing to the success of robust, packaged software over pilot projects and initiatives.
- There is a clear distinction between IT/Enterprise and OT/Industrial providers, and Cambashi are observing the formation of new relationships and ecosystems.
- The asset management and performance monitoring use cases have the most published case studies.
The Cambashi IIoT Observatory is based on several years of research and industry collaboration through the IIoT Charter Program. The first global market-sizing details nine connected application market areas across three major regions by provider. For each provider, the observatory lists the connected applications they offer, categorized by market area. This first release provides 2017 and 2018 estimates of the global market, while future versions will provide 3-year growth projections, industry and country segmentation.
An analysis of use cases and case studies is also included in the observatory. Use cases show where providers are developing connected applications and in which marketareas. Use cases and case studies will be available as custom data sets with analytics.
OT/Industrial vs. IT/Enterprise provider revenue highlights the relative growth of global IT/Enterprise software providers revenue compared with that of the OT/Industrial providers from 2017 to 2018. According to Cambashi, this analysis shows that IT/Enterprise is growing faster – by 65% - in connected applications than OT/Industrial – 29%.
The Cambashi IIoT Observatory also includes analysis of published case studies by use case (industry application) for which the initial findings are:
- Asset management and performance monitoring are the most popular use cases.
- Connected production and connected assets have the most case studies for almost all the top ten use cases.
- Most projects have been in the machinery and process manufacturing industries.
The Cambashi IIoT Observatory was designed to address some of the ‘hard to solve” industry problems that IIoT software vendors are encountering, including:
- Manufacturers are confused by all the different “IIoT” offerings
- Which are the “hot” IIoT market areas to go for?
- Are the IIoT projections we are hearing just ‘hype’?
- Where are examples of the business value case for IIoT – based on actual Use Cases?
In 2016 Cambashi surveyed the IIoT market, concluding that there were no reliable and authoritative sources for segmentation, size or growth estimates. In 2017, Cambashi undertook a self-financed research project, interviewing senior people among the major providers to create a market landscape report; ‘The Industrial Internet of Things and Digital Transformation; Market Landscape and Trends,’ delivered in January 2018.