According to recent findings, 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.
At MarkNtel Advisors, we continuously monitor and analyze industry trends to provide reliable insights that support informed decision-making and the key factors contributing to the market’s promising outlook.
Industrial Internet of Things (IIoT) Overview:
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. Moreover, technological advancement & the use of AI, ML, and robotics in the sectors such as manufacturing, oil & gas, healthcare, agriculture, and others are some of the key contributing factors to the market growth of industrial IoT worldwide. The proliferating 3D printing technology in developed countries in manufacturing automotive components, healthcare equipment, etc., is also adding pace to the market.
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Industrial Internet of Things (IIoT) Outlook and Future Trends :
Origin of 5G Technology to Be a New Trend – The IIoT would undergo a tremendous transformation with the arrival of 5G technology. Faster & more dependable data transfer is becoming possible by 5G’s high-speed, low-latency connectivity, allowing for real-time monitoring, control, and reaction in industrial settings. Further, widespread adoption of 5G in numerous industrial applications would open up new opportunities for remote monitoring, autonomous systems, and seamless connectivity, hence this new technological advancement seems to be one of the profitable trends in the Global Industrial Internet of Things Market.
Global Industrial Internet of Things (IIoT) Segmentation Analysis:
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
According to reports,The Hardware segment is predicted to capture a substantial market share due to the industrial sector’s ongoing efforts to boost productivity, cut expenses, and raise Overall Equipment Effectiveness (OEE) by gaining greater access to information via real-time solutions.
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
According to reports,The Manufacturing sector is expected to account for the most prominent market share & to grow with the highest growth rate in the future year.
By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific.
According to reports, Asia-Pacific is predicted to hold a significant market share in terms of value during the forthcoming period.
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Some of the Market players in the Global Industrial Internet of Things (IIoT) are:
- Cisco Systems, Inc.
- GE
- Honeywell
- Intel
- IBM
- ABB
- Telefonica
- Robert Bosch
- Rockwell Automation
- Siemens
- Accenture
- Capgemini
- Texas Instrument
- ARM Holding
- PTC
- HCL
- Maverick
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