Global Industrial Internet of Things (IIoT) Market Outlook for 2023-28
Markntel Advisors has conducted a comprehensive study on the Global Industrial Internet of Things (IIOT) Market is estimated to grow at a CAGR of around 23.5% during the forecast period, i.e., 2023-28. The market has been significantly fueled by rising investments in technologies in an effort to have to develop the nations worldwide & the emergence of big data analytics. The two main factors propelling industry expansion are a high level of intelligent automation, declining operational costs, and the expanding industrial IoT. Additionally, it is anticipated that by 2030, there will be over 120 billion IoT devices online, further generating a demand curve for this technology.
In addition, the Global Industrial Internet of Things (IIoT) Market Study highlights the impact of domestic and localized market players, emerging revenue opportunities, strategic market growth analysis, product approvals, product launches, geographic expansions, and technological innovations. The objective of the report is to provide a detailed understanding of the industry, including its features, factors, and elements, along with insights into the regulatory scenario & regional dynamics that may impact market growth.
Global Industrial Internet of Things (IIOT) Market Driver:
Frequent Deployment of AI, ML, and IoT in the Manufacturing Industry to Drive the Market Growth – The adoption of AI & IOT technologies in the manufacturing sector has risen dramatically over the past few years. This is in line with the advent of Industry 4.0. Systems powered by AI & the Internet of Things (IoT), make it possible to optimize manufacturing procedures, give out early warnings, foresee or anticipate equipment or machinery breakdown, and gather comprehensive data, thus helping manufacturers work more fluidly. Additionally, in industrial units, jobs like conditioning monitoring & equipment maintenance are carried out using AI & ML algorithms in the absence of normal personnel. Hence, owing to the listed factors it is anticipated that the integration of AI, ML, and IoT in the industrial sector would drive the Global Industrial Internet of Things Market in the future years as well.
Global Industrial Internet of Things (IIoT) Industry Breakdown: Key Revenue Generating Segments
To facilitate focused analysis, the Industrial Internet of Things (IIoT) Market has been divided into different segments, providing shareholders with the opportunity to identify their areas of interest and the most profitable opportunities within the market. By incorporating technical trends, comprehensive analysis of the downstream & upstream value chain, as well as Porter’s five forces analysis, we have diligently forecasted the industry landscape for specific regions/countries, presenting critical pointers for informed decision-making. The segments are as follows:
-By Components
-Hardware- Market Size & Forecast 2018-2028F, USD Million
-Sensors- Market Size & Forecast 2018-2028F, USD Million
-RFID- Market Size & Forecast 2018-2028F, USD Million
-Industrial Robotics- Market Size & Forecast 2018-2028F, USD Million
-Distributed Control Systems- Market Size & Forecast 2018-2028F, USD Million
-Condition Monitoring- Market Size & Forecast 2018-2028F, USD Million
-Smart Meters- Market Size & Forecast 2018-2028F, USD Million
-Electronic Shelf Labels- Market Size & Forecast 2018-2028F, USD Million
-Cameras- Market Size & Forecast 2018-2028F, USD Million
-Smart Beacons- Market Size & Forecast 2018-2028F, USD Million
-Interface Boards- Market Size & Forecast 2018-2028F, USD Million
-Yield Monitors- Market Size & Forecast 2018-2028F, USD Million
-Guidance and Steering- Market Size & Forecast 2018-2028F, USD Million
-Flow & Application Control Devices- Market Size & Forecast 2018-2028F, USD Million
-Networking Component- Market Size & Forecast 2018-2028F, USD Million
-Software & Services- Market Size & Forecast 2018-2028F, USD Million
-By Connectivity
-Wired Technologies- Market Size & Forecast 2018-2028F, USD Million
-Ethernet- Market Size & Forecast 2018-2028F, USD Million
-Modbus- Market Size & Forecast 2018-2028F, USD Million
-Profinet- Market Size & Forecast 2018-2028F, USD Million
-Foundation Field Bus- Market Size & Forecast 2018-2028F, USD Million
-Wireless Technologies- Market Size & Forecast 2018-2028F, USD Million
-Wi-Fi- Market Size & Forecast 2018-2028F, USD Million
-Zigbee- Market Size & Forecast 2018-2028F, USD Million
-Bluetooth- Market Size & Forecast 2018-2028F, USD Million
-Cellular Technologies- Market Size & Forecast 2018-2028F, USD Million
-Satellite Technologies- Market Size & Forecast 2018-2028F, USD Million
-By Application
-Product Lifecycle Management- Market Size & Forecast 2018-2028F, USD Million
-Manufacturing and Executions Systems- Market Size & Forecast 2018-2028F, USD Million
-Supervisory Control and Data Acquisition (SCADA) – Market Size & Forecast 2018-2028F, USD Million
-Outage Management Systems- Market Size & Forecast 2018-2028F, USD Million
-Distribution Management Systems- Market Size & Forecast 2018-2028F, USD Million
-Remote Monitoring- Market Size & Forecast 2018-2028F, USD Million
-Retail Management- Market Size & Forecast 2018-2028F, USD Million
-Transit Management Systems- Market Size & Forecast 2018-2028F, USD Million
-Predictive Maintenance- Market Size & Forecast 2018-2028F, USD Million
-Others (Visualization Software, Farm Management, etc.) – Market Size & Forecast 2018-2028F, USD Million
-By End Users
-Manufacturing- Market Size & Forecast 2018-2028F, USD Million
-Automotive- Market Size & Forecast 2018-2028F, USD Million
-Machinery- Market Size & Forecast 2018-2028F, USD Million
-Food & Beverages- Market Size & Forecast 2018-2028F, USD Million
-Chemicals and Materials- Market Size & Forecast 2018-2028F, USD Million
-Electrical and Electronics- Market Size & Forecast 2018-2028F, USD Million
-Pharmaceuticals- Market Size & Forecast 2018-2028F, USD Million
-Energy- Market Size & Forecast 2018-2028F, USD Million
-Oil & Gas- Market Size & Forecast 2018-2028F, USD Million
-Metal & Mining- Market Size & Forecast 2018-2028F, USD Million
-Healthcare- Market Size & Forecast 2018-2028F, USD Million
-Retail- Market Size & Forecast 2018-2028F, USD Million
-Transportation- Market Size & Forecast 2018-2028F, USD Million
-Agriculture- Market Size & Forecast 2018-2028F, USD Million
-By Region
-North America
-South America
-Europe
-Middle East & Africa
-Asia-Pacific
Each sections offer valuable insights into the Industrial Internet of Things (IIoT) Market. The report includes essential pillars of the industry study, such as drivers, restraints, opportunities, and challenges. The report also provides information on industry overview, specifications, definitions, suppliers, R&D status, cost structure analysis, sources, and technological advancements, potential for improvement, applications, among others.
Competitive Analysis of the Global Industrial Internet of Things (IIoT) Industry
-Cisco Systems, Inc.
-GE
-Honeywell
-Intel
-IBM
-ABB
-Telefonica
-Robert Bosch
-Rockwell Automation
-Siemens
-Accenture
-Capgemini
-Texas Instrument
-ARM Holding
-PTC
-HCL
-Maverick
-Others
Global Industrial Internet of Things (IIoT) Market Research Report Answers the Following Key Questions
- How big is the Global Industrial Internet of Things (IIoT) Market?
- What is the projected growth rate or CAGR of the Global Industrial Internet of Things (IIoT) Market during 2023-28?
- What are the key trends or growth opportunities for the key players in the Global Industrial Internet of Things (IIoT) Market?
- Which ‘segment’ seems promising for companies operating in the Global Industrial Internet of Things (IIoT) Market?
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