Internet of things News
The 10 Hottest Industrial IoT Platforms Of 2020
These industrial IoT platforms come from vendors of different sizes, and they offer differing approaches on device management, analytics and application integration.
From Software Vendors, Large And Small
It’s been a year of give-and-take for the industrial IoT market, with some businesses slowing down or halting spending on such initiatives while others have plan to continue making investments.
Case in point: IoT spending for discrete manufacturing, resource-intensive industries and transportation slowed down in 2020, according to research firm IDC. And yet, according to a Gartner survey, some 47 percent of companies said they plan to increase their investments in IoT, despite the impact caused by COVID-19. And those investments are expected to bring discrete manufacturing, resource industries like oil and gas and transportation back to double-digit growth by 2024, IDC added in its report.
[Related: The 10 Coolest Industrial IoT Startups Of 2020 ]
That means while IoT spending slowed to a 8.2 percent growth rate in 2020, it’s expected to pick up again and reach an annual growth rate of 11.3 percent over the next few years, according to IDC.
“Although the current pandemic forced many organizations to pause some innovative IoT deployments, IoT will be a key ‘return to growth’ accelerator with selected use cases being safe bets for end users to focus on in order to reach a new level of automation, remote everywhere experience, and hyper-connectivity,“ said Andrea Siviero, associate research director with IDC’s Customer Insights & Analysis group, in a statement.
This means there are plenty of opportunities for vendors who provide software platforms that can connect IoT devices and provide IOT applications and solutions to solve any number of problems, whether it’s lowering downtime in factories or improving the throughput of production lines.
What follows are the 10 hottest industrial IoT platforms of 2020, based on Gartner’s Magic Quadrant for Industrial IoT Platforms, which judges platforms based on completeness of vision and ability to execute.