Industrial IoT (IIoT) is part of a broader trend towards the transformation of industry as part of a fourth industrial revolution (e.g. Industry 4.0) that involves more than just manufacturing. IIoT is poised to transform many industry verticals including healthcare, retail, automotive, and transport.
Enterprise Resource Planning (ERP) is manifest in architecture that facilitates the flow of information among the different functions within an enterprise. ERP software provides a central repository for all enterprise information while improving the flow of data across organization.
- There will be an incremental $49.9 billion market opportunity for IoT ERP software and services by 2022.
- About 50% of the global small, mid-sized, and large enterprises will deploy some kind of IoT enabled ERP by 2022.
- SaaS business model is expected to achieve substantial growth as compared to the built-to-order business model.
- Virtually all enterprise functions will require significant transformation to prepare for and maintain IoT enabled ERP.
- Network operators
- Robotics companies
- IoT solution providers
- ERP solution providers
- Manufacturing companies
- Systems integration companies
- Cloud and AI solution providers
- Enterprise companies of all types