Blockchain Press Releases
IIoT Platform Market worth $18.2 billion by 2028 – Exclusive Report by MarketsandMarkets™
CHICAGO, June 26, 2023 /PRNewswire/ — The IIoT Platform Market has a bright future thanks to its continuing industry expansion and integration with edge computing, artificial intelligence, and machine learning. The development of IIoT platforms and the advancement of industrial operations will be shaped by improved security, interoperability, and industry-specific solutions as well as cooperation and collaborations.
The IIoT Platform Market size is projected to grow from USD 9.5 billion in 2023 to USD 18.2 billion in 2028, at a Compound Annual Growth Rate (CAGR) of 13.9% during the forecast period, according to a new report by MarketsandMarkets™. The growth of the Industrial IoT (IIoT) platform market is primarily driven by the increasing demand for operational efficiency, advancements in IoT technologies, and a strong emphasis on safety and security. Industries are adopting IIoT platforms to optimize processes, leverage technological advancements, and enhance safety measures. With real-time data collection and analysis, businesses can make data-driven decisions, improve productivity, and mitigate risks.
Browse in-depth TOC on “IIoT Platform Market“
200 – Tables
50 – Figures
270 – Pages
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Scope of the Report
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Report Metrics |
Details |
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Market size available for years |
2018–2028 |
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Base year considered |
2022 |
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Forecast period |
2023–2028 |
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Forecast units |
Value (USD Billion) |
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Segments covered |
Offering, Application Area, Vertical, and Regions. |
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Regions covered |
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
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Companies covered |
Software AG (Germany), PTC (US), Hitachi (Japan), IBM (US), Microsoft (US), Cisco (US), Intel (US), SAP (Germany), Siemens AG(Germany), Accenture (US), Atos (France), Amazon Web Services (US) and many more. |
Based on offering, the services segment to grow at a higher CAGR during the forecast period
The services segment of the global IIoT Platform Market comprises consulting services, system integration and deployment services, and support and maintenance services. The service segment is driven by the complexity of implementation, customization requirements, integration with legacy systems, maintenance and support needs, data analytics and insights, security and cybersecurity concerns, training and skill development requirements, and the need for scalability and upgradability.
Based on platform, the device management platform segment is expected to lead the market during the forecast period
is driven by the need to manage the growing number of connected devices, enable remote monitoring and control, streamline firmware and software updates, facilitate device configuration and provisioning, enhance security and compliance, enable asset tracking and inventory management, provide device analytics and performance monitoring, and ensure scalability and interoperability within the IIoT ecosystem.
Based on services, the support and maintenance segment is expected to grow at a higher CAGR during the forecast period
The support and maintenance service segment in the IIoT Platform Market is driven by the complexity of IIoT systems, the need for technical expertise, the continuous improvement of platforms, the requirement for high reliability and minimal downtime, security and risk mitigation, compliance and regulatory adherence, and performance optimization
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Based on application area, the supply chain management segment is expected to grow at a higher CAGR during the forecast period
Supply chain management segment in the IIoT Platform Market is driven by the need for enhanced visibility, operational efficiency, real-time decision-making, inventory optimization, supply chain visibility and traceability, supply chain resilience and risk mitigation, collaboration and integration among stakeholders, and sustainability considerations..
Based on vertical, the process industry segment is expected to lead the market during the forecast period
The process industry segment in the IIoT Platform Market is driven by the need for operational efficiency, asset performance optimization, regulatory compliance and safety, quality control and traceability, supply chain integration and optimization, energy management and sustainability, and digital transformation initiatives
North America to hold the highest market size during the forecast period
IIoT platform is a steady-growing market in North America, which includes the US and Canada. North American industries, including manufacturing, energy, transportation, and healthcare, are increasingly adopting automation and digitalization to improve operational efficiency and competitiveness North America is known for its strong technological innovation and adoption. The region has a robust ecosystem of technology companies, startups, and research institutions focused on developing and advancing IIoT platforms. The continuous technological advancements drive the growth of the IIoT Platform Market by offering new capabilities, improved connectivity, and enhanced analytics for industrial applications.
Top Key Companies in IIoT Platform Market:
Major vendors operating in the IIoT Platform Market include Software AG (Germany), PTC (US), Hitachi (Japan), IBM (US), Microsoft (US), Cisco (US), Intel (US), SAP (Germany), Siemens AG(Germany), Accenture (US), Atos (France), Amazon Web Services (US), Oracle (US), Bosch.IO (US), Schneider Electric (France), Davra Networks (US), Eurotech (Italy), Altizon (US), QiO Technologies (UK), Litmus Automation (US), ROOTCLOUD (China), Augury (US), Braincube (France), UnifyTwin (US), and Samsara (US).
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Recent Developments:
- In March 2023, Accenture acquired Flutura, an internet of things (IoT) and data science services firm, for an undisclosed sum to boost the industrial AI services it sells under Applied Intelligence’s umbrella.
- In January 2023, PTC acquired ServiceMax a Service Execution Management company. The acquisition adds important field service management (FSM) capabilities to PTC’s closed-loop product lifecycle management (PLM) and digital thread offerings.
- In February 2022, Software AG acquired treamSets, a leader in data integration for the modern data stack. With this acquisition, Software AG adds a sizeable and fast-growing SaaS and subscription business that is growing rapidly.
- In March 2021, SAP acquired Signavio, one of the leaders in the enterprise business process intelligence and process management space. As a part of the acquisition, Signavio’s products become part of SAP’s business process intelligence portfolio and complement SAP’s holistic process transformation portfolio. As a result of the deal, SAP can help companies quickly understand, improve, transform and manage their business processes on a scale.
- In February 2021, Siemens, IBM, and Red Hat collaborated to use a hybrid cloud designed to deliver an open, flexible, and more secure solution for manufacturers and plant operators to increase the real-time value of industrial IoT data. Through the collaboration, Siemens Digital Industries Software will apply IBM’s open hybrid cloud approach, built on Red Hat OpenShift, to extend the deployment flexibility of MindSphere. This will enable customers to run MindSphere on-premise, unlocking the speed and agility in factory and plant operations and through the cloud for seamless product support, updates, and enterprise connectivity.
IIoT Platform Market Advantages:
- IIoT platforms enable the real-time monitoring and data collecting from a range of industrial equipment, sensors, and devices. To increase operational efficiency overall and to identify bottlenecks and optimize procedures, this data can be analyzed and utilized. Organizations may reorganize processes, cut down on downtime, and boost productivity by utilizing data-driven insights.
- With the use of real-time data and analytics, IIoT platforms may undertake predictive maintenance, a proactive approach to maintenance that foresees equipment failures or performance problems. Organizations may prevent unforeseen breakdowns, lower maintenance costs, and increase equipment uptime by scheduling maintenance chores in advance and keeping an eye on the health and performance of their machinery.
- IIoT platforms enable real-time monitoring of industrial environments, enabling the early discovery of safety risks, equipment problems, or anomalous situations. Organizations may reduce workplace accidents, save expensive damages, and maintain employee safety by quickly detecting and addressing possible risks.
- Organizations have access to a lot of real-time and archived data thanks to IIoT systems. Organizations can gain useful insights from this data by utilizing advanced analytics, machine learning, and artificial intelligence approaches. Decision-makers are given the tools they need to make wise decisions, streamline procedures, and spot untapped commercial potential.
- Industrial equipment and processes can be remotely monitored and managed using IIoT platforms. Due to this feature, businesses may manage and keep an eye on numerous sites or facilities from a central place without having to be present physically at each one. Remote control and access increase operational agility, cut travel expenses, and make it easier to react quickly to problems or emergencies.
- IIoT platforms can support cost optimization in a number of ways. Organizations may minimize maintenance costs, maximize asset utilization, and extend equipment lifecycles by enhancing operational efficiency, lowering downtime, and enabling predictive maintenance. IIoT systems can also aid in reducing waste, streamlining supply chain procedures, and optimizing energy consumption, all of which can lower costs overall.
Report Objectives
- To determine and forecast the global IIoT Platform Market by offering, application area, vertical, and region from 2023 to 2028, and analyse the various macroeconomic and microeconomic factors that affect market growth.
- To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.
- To provide detailed information related to the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the IIoT Platform Market.
- To analyse each submarket with respect to individual growth trends, prospects, and contributions to the overall IIoT Platform Market.
- To analyse the opportunities in the market for stakeholders by identifying the high-growth segments of the IIoT Platform Market.
- To profile the key market players; provide a comparative analysis on the basis of business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the competitive landscape of the market.
- To track and analyse competitive developments, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities, in the market.
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Blockchain Press Releases
WSPN Names Austin Campbell CEO of WSPN US to Drive Stablecoin Innovation and Expansion
SINGAPORE, Oct. 25, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (“WSPN”), a leading digital payments and the issuer of Worldwide USD (“WUSD”), today announced the appointment of Austin Campbell as CEO of WSPN US. Mr. Campbell brings extensive experience in stablecoin markets and digital asset strategy to his new role, including running stable value products at JPM and Citi, managing reserves and risk for the Paxos stablecoins (BUSD, USDP), and having helped to design PYUSD. This appointment signals WSPN’s commitment to building first class financial products and revolutionizing the world of payments with its “Stablecoin 2.0” vision to deliver faster, cheaper, and safer transactions for all.
Building on his significant contributions as Head of Strategy, where he was instrumental in shaping WSPN’s strategic roadmap and identifying new market opportunities for WUSD, Mr. Campbell will now lead the effort in bringing this vision to the US market and beyond. His primary focus will be on:
- Driving the adoption of WUSD: Leveraging his deep understanding of the stablecoin ecosystem, Mr. Campbell will lead initiatives to establish WUSD as a leading solution for businesses globally.
- Leading treasury and risk management: Mr. Campbell will leverage his expertise to ensure the stability and security of WUSD, building trust and confidence among users and partners on a global scale.
- Building a world-class user experience: Mr. Campbell will oversee the development of user-friendly products and services that simplify the use of stablecoins for everyday transactions, regardless of location.
- Fostering strategic partnerships: Mr. Campbell will cultivate relationships with key players in the financial and technology sectors worldwide to expand WUSD’s reach and impact.
“I am incredibly excited to become the CEO of WSPN US,” said Mr. Campbell. “Stablecoins are key to improving the global financial system. We intend to build the best products for consumers and end users, creating a fair system where people control their own money and have global access to dollars. Our goal is to bring world-class user experience to stablecoins, where many users making payments in dollars won’t even have to think about the fact that they’re using blockchain technology. With WSPN, we’re committed to building a better economic model that fosters a virtuous cycle of adoption, benefiting the entire ecosystem.”
Prior to joining WSPN, Mr. Campbell was the founder and managing partner at Zero Knowledge Consulting, advising on market structure and risk management within the crypto ecosystem. Additionally, he is also an adjunct professor at New York University Stern School of Business, educating the next generation of Web3 leaders. His previous experience, including Paxos, Citi, and JP Morgan, coupled with his thought leadership in stablecoin mechanics, uniquely positions him to lead WSPN US towards a future powered by accessible and equitable financial solutions.
“Austin’s expertise and vision have been instrumental in shaping WSPN’s strategic direction,” said Raymond Yuan, Founder and CEO of WSPN. “We are confident that under his leadership, WSPN US will play a crucial role in driving the mass adoption of stablecoins and transforming the financial landscape for the better.”
****END****
About WSPN
WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users. WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.
Learn more: www.wspn.io | X | LinkedIn
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Blockchain Press Releases
Common Crawl Foundation and Constellation Network Announce Partnership to Bridge Blockchain and AI
Constellation Network and Common Crawl Foundation are Revolutionizing Web Data Accessibility and AI Development Through Blockchain Technology
SAN FRANCISCO, Oct. 24, 2024 /PRNewswire/ — The Common Crawl Foundation, a non-profit organization founded in 2007, dedicated to providing a copy of the internet to the public, and Constellation Network, a Web3 blockchain ecosystem notable for providing solutions to the US Department of Defense today announced a strategic partnership aimed at democratizing and enhancing the accessibility and utility of web-crawled data on blockchain technology for artificial intelligence (AI) and data applications.
This collaboration will explore potential opportunities for improving large language models used by AI, starting with Common Crawl’s vast dataset that is used by 80% of Large Language Models, crawled over 250 billion web pages to date (19 billion in 2024 alone), and consists of an archive of nearly 9 petabytes of archived crawled data. By leveraging Constellation’s decentralized network, Hypergraph, to add immutability, provenance, and auditability around the data the partnership aligns to provide joint solutions around responsible and transparent AI.
With AI projected to be a $3T industry by 2030, there are growing demands for secure solutions to sharing common data sets being used for the training of large language models, improving storage of queried and cleaned data, monetization opportunities for data, and enhanced transparency with the source of data. With Constellation’s unique approach to providing tools to converge existing infrastructure with distributed and decentralized networks, and Common Crawl’s history of data and growth of data utility, this partnership aligns to further democratize data.
“This partnership represents a significant step forward in securing trusted distribution of Common Crawl” said Rich Skrenta, Executive Director of the Common Crawl Foundation. “By combining our comprehensive web archive with Constellation’s proven implementation of blockchain technology, researchers and developers from around the world can trust what they’re getting from Common Crawl and have a model for authenticating large open data sets, such as those used for AI training”.
Ben Jorgensen, CEO of Constellation Network states, “The partnership between Constellation Network and Common Crawl highlights mainstream adoption of web3 solutions outside the echo chambers of crypto. This alignment continues Constellation’s mission of our zero trust network being used as a public good for a data-focused future”. Jorgensen continues, “Our aim is to further attract new developers by showcasing capabilities, such as integrating immutability throughout digital workflows, and thus further differentiate ourselves from earlier generations of blockchain technology.”
The two organizations will begin a phased approach to implement this initiative, starting with a customizable subnet, called a metagraph, which will integrate a subset of Common Crawl’s data. This subnet is currently live on their test network and will be soon deployed to Constellation’s public network, Hypergraph. Further details of the live metagraph will be featured in the coming weeks along with information on how organizations and developers can participate.
For more information, please visit:
- Common Crawl Foundation: https://commoncrawl.org
- Constellation Network: https://constellationnetwork.io
- X.com @Conste11ation
About Common Crawl Foundation
The Common Crawl Foundation is a 501(c)(3) non-profit organization dedicated to providing a copy of the internet to the public, free of charge. Their web archive consists of petabytes of data collected over years of web crawling, serving as a critical resource for researchers, businesses, and developers worldwide.
About Constellation Network
Constellation Network is a Web3 blockchain ecosystem that bridges crypto economies with traditional businesses. Its flagship network, Hypergraph, provides a solution for fast, scalable, and zero-fee transactions. Constellation’s Network is validated by the US Department of Defense which has been a customer since 2019.
Note: This press release contains forward-looking statements. Actual results may differ materially from those projected.
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Following a management buy-out by the management team at TOKO FZE, the business has been rebranded as Scintilla, the revolutionary platform providing on-chain solutions and services to make investments more inclusive, accessible, and efficient. Having been developed within DLA Piper’s Law& innovation portfolio, TOKO – now Scintilla has a fresh brand identity, new leadership, and innovative product offerings. Scintilla is set to reshape the future of finance by enabling businesses to unlock the power of blockchain technology across various asset classes, with DLA Piper remaining as a minority shareholder.
Regulated by Dubai’s Virtual Assets Regulatory Authority (VARA), Scintilla is one of the first digital asset companies to gain full market licenses, marking a significant milestone in the sector’s landscape. Being a regulated entity underscores Scintilla’s commitment to the highest standards of compliance and security while pioneering new solutions for tokenization in the global market.
Innovating Finance Through Tokenization
Scintilla offers a comprehensive suite of tokenization services designed to bring liquidity, transparency, and efficiency to traditional finance sectors. From tokenized financial products, and real estate all the way to new legal funding products, Scintilla’s digital asset solutions enable clients to tokenize assets that were previously inaccessible to investors or illiquid.
Scintilla’s services include:
Advisory Services: The gateway to successful market entry. From initial opportunity assessment to strategic development of game-changing tokenization-based solutions.
Use Case Development: Bringing products to life. From initial POC development and iteration towards MVP all the way through to the full market launch.
Broker/Dealer Services: Creating new markets. Regulated primary market trading, ensuring the highest levels of trust and security within the tokenization space.
Exchange Services: Universal participation. Seamless, secure secondary trading of tokenized assets, with industry-leading technology and compliance standards.
Scintilla is uniquely positioned to capitalize on the confluence of Dubai’s world-leading regulatory environment, cutting-edge technology, and the burgeoning RWA market.
A New Era for Scintilla
The relaunch of Scintilla represents more than just a rebranding—it signifies the company’s growing ambition to lead in the digital asset space. With an expanded team of industry experts, including continuing Board representation from DLA Piper, and a clear strategic vision, Scintilla is set to drive the adoption of tokenization in traditional financial markets.
“Our relaunch marks the beginning of an exciting new chapter for Scintilla and the wider industry. We are committed to pushing the boundaries of what is possible in digital finance while ensuring our solutions are underpinned by strong regulatory compliance,” said Tim Popplewell, CEO of Scintilla. “With our new suite of products and services, we are empowering investors to transform the way they manage and access value.”
Jean-Pierre Douglas-Henry, Managing Director, Sustainability and Resilience, DLA Piper added: “Innovation is a key strand in our business strategy. As our business focuses on developing and nurturing innovations that add significant value to our clients through our Law& innovation program, it is fantastic to see this solution spun out into the thriving digital asset space for the next stage of its growth and development.”
The post DLA Piper’s crypto tokenization engine TOKO relaunches as Scintilla appeared first on HIPTHER Alerts.
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