[194 Pages Report] The Industrial Internet of Things Market size was estimated at USD 271.25 billion in 2023 and expected to reach USD 310.75 billion in 2024, at a CAGR 17.62% to reach USD 844.82 billion by 2030.
The industrial Internet of Things (IIoT) majorly uses sensors and connected devices in industrial settings for collecting data, analyzing it, and making decisions based on it. IIoT can significantly assist in improving operational efficiency, cost-efficiency, productivity, and employee safety in factories. Government initiatives encouraging digital transformation in industrial settings have been one of the major factors accelerating the pace of IIoT deployment worldwide. End-users have started to realize the importance of predictive maintenance solutions, elevating the popularity of IIoT. However, the interoperability and reliability issues of IIoT, along with its security issues, have been impeding product penetration across many organizations. Market players are constantly working on advancing IIoT components while keeping in mind industry-specific needs, specifications, and safety requirements to expand their utilization. Several startups have entered the market with new products, and there have been tremendous investments to extend investments in smart factories, creating opportunities to commercialize IIoT components.
Regional Insights
The IIoT market in the Americas is rapidly advancing, primarily driven by the exponential use of connected devices in manufacturing, transportation, and energy industries. The region is home to many established market players, particularly across the U.S. and Canada, currently working on improving the operation of IIoT with the emergence of 5G networks and edge computing. In the Asia-Pacific, market players have been heavily investing in IIoT research while collaborating with international companies to develop improved solutions. China, Japan, India, and South Korea have been taking smart factory and smart manufacturing initiatives, focusing on robotics and automation to induce more opportunities for IIoT. The European market is also fast-growing, with Germany, France, the Netherlands, the UK, and Italy introducing Industry 4.0 initiatives while investing in IoT-enabled infrastructure. The Horizon 2020 program offers great funding for research of new IIoT technologies.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Industrial Internet of Things Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Industrial Internet of Things Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Industrial Internet of Things Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Advanced Micro Devices, Inc, Advantech Co., Ltd., Amazon Web Services, Inc., C3 IoT Inc., Cisco Systems, Inc., Cognizant Technology Solutions Corporation, Dell Inc., Emerson Electric Co., Fujitsu Component Limited, General Electric Company, Hewlett Packard Enterprise Development LP, Hitachi, Ltd., Honeywell International Inc., Huawei Technologies Co., Ltd., Infosys Limited, Intel Corporation, International Business Machines Corporation, KUKA AG, LG Corporation, Microsoft Corporation, NEC Corporation, Nokia Corporation, Oracle Corporation, PTC Inc., Qualcomm Technologies, Inc., Robert Bosch GmbH, Rockwell Automation, Inc., Samsara Inc., SAP SE, Schneider Electric, Siemens AG, SoftBank Corp., Software AG, TATA Consultancy Services Limited, Tech Mahindra Limited, Texas Instruments Incorporated, Toshiba Corporation, Yokogawa Electric Corporation, and Zebra Technologies Corporation.
Market Segmentation & Coverage
This research report categorizes the Industrial Internet of Things Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Component
- Hardware
- Actuators
- Cables
- Computer Chips
- IoT Sensors
- Smart Devices
- Services
- Installation & Maintenance
- Managed
- Professional
- Software
- Analytics
- Data Management
- Remote Monitoring
- Security Solutions
- Hardware
- Connectivity
- Satellite Connectivity
- Wired Connectivity
- Wireless Connectivity
- End-User
- Agriculture
- Automotive
- Chemicals & Materials
- Energy & Power
- Food & Beverages
- Healthcare
- Logistics & Transport
- Metal & Mining
- Oil & Gas
- Retail & Consumer Goods
- Semiconductor & Electronics
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Industrial Internet of Things Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Industrial Internet of Things Market?
- What are the technology trends and regulatory frameworks in the Industrial Internet of Things Market?
- What is the market share of the leading vendors in the Industrial Internet of Things Market?
- Which modes and strategic moves are suitable for entering the Industrial Internet of Things Market?
US $
Euro €
GBP £