Global Industrial IoT (IIoT) Market Size, Share & Forecast to 2028 - Valuates Reports

The global Industrial Internet of Things (IIoT) market size is projected to reach USD 102460 million by 2028, from USD 71160 million in 2021, at a CAGR of 5.3% during 2022-2028.

Major Factors Driving The Growth of the Industrial Internet of Things Market are:

The growth of the IIoT industry is driven by the increasing adoption of Industry 4.0. Furthermore, the need to increase efficiency, the need for predictive maintenance and to develop insights about the process flow in various industries, including manufacturing, Energy, Oil & Gas, Metal & Mining, Healthcare, Retail, Transportation, and Medical is expected to drive the growth of IIoT market.

Browse The Table of Contents And List of Figures At https://reports.valuates.com/market-reports/QYRE-Auto-26M10077/global-industrial-iot-iiot

TRENDS INFLUENCING THE GROWTH OF INDUSTRIAL IOT (IIOT) MARKET

The increasing use of IIoT in the manufacturing sector is expected to drive the growth of the industrial internet of things market. Data from remote assets in a manufacturing unit can be accessed from a central location thanks to connected IoT devices. These assets can be remotely monitored and controlled, providing a greater degree of control. They can also boost machine utilization by emphasizing the importance of preventive maintenance. In addition, real-time data from industrial internet of things connected equipment can aid in the prediction of machine problems. This enables manufacturers to take proactive actions to address issues before they arise, resulting in increased machine uptime and overall productivity.

The industrial internet of things energy movement focuses on integrating connections into equipment and devices, connecting those devices to intelligent networks, and extracting meaningful and actionable insights from that data using data analytics. Energy generation businesses, for example, will implant industrial internet of things sensors inside wind turbine vanes to manage their velocity, rotation, and functioning in real-time in response to changing wind conditions. The main value of smart grid and IIoT solutions is that they assist in realizing the potential of existing data and harvesting it for automation, better decision making, and ultimately increased efficiency. Thus the growing use of IIoT in the energy sector is expected to fuel the industrial internet of things market growth.

Oil and gas is a large industry with a lot of variables to manage at the same time. The IIoT benefits oil and gas firms by allowing them to design an integrated deployment plan. This in turn is expected to drive the growth of the industrial internet of things market. The industrial internet of things enables Oil and gas businesses to monitor various operations and optimize, automate, or digitize them as needed. Through sensor technologies and enhanced telemetry, IIoT installation streamlines the process of monitoring these variables.

The rising adoption of IIoT in Mining is expected to further propel the industrial internet of things market. With numerous sets of exploration data and modeling to help target subsequent drilling, IIOT can give mining operators a better understanding of the resource base, decreasing uncertainty. Machines that are IIoT-enabled can help optimize material and equipment flow for better efficiency and production, as well as predict equipment breakdowns. The IIoT market is predicted to increase as a result of these factors.

Furthermore, in healthcare, organizations will be able to record, transmit, aggregate, and analyze data in real-time using IIoT systems that connect medical equipment, allowing them to practice evidence-based treatment. In this way, the industrial internet of things can improve people's health, safety, and productivity all across the world.

Get Your Sample Today: https://reports.valuates.com/request/sample/QYRE-Auto-26M10077/Global_Industrial_IoT_IIoT_Market

INDUSTRIAL IOT (IIOT) MARKET SHARE ANALYSIS

Based on application, manufacturing is expected to be the most lucrative segment. Manufacturing companies are rapidly adopting digital manufacturing technologies, and the Internet of Things (IIoT) plays a critical role in these cutting-edge technologies. The market is expected to develop significantly in the near future, owing to the strategic partnerships and alliances that stakeholders are forming, as well as the growing demand for a linked supply chain to provide flexibility, operational efficacy, and regulatory compliance.

Based on region, North America and the Asia Pacific is expected to be the most lucrative region. Several well-established market participants can be found in North America. The region was also an early adopter of IIoT and has evolved into an innovation hotspot.

Inquire For Customization: https://reports.valuates.com/request/customisation/QYRE-Auto-26M10077/Global_Industrial_IoT_IIoT_Market

Market By Region
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
Inquire For Regional Report: https://reports.valuates.com/request/regional/QYRE-Auto-26M10077/Global_Industrial_IoT_IIoT_Market

Key players
ARM Holding (UK)
Cisco (US)
GE (US)
Intel (US)
Rockwell Automation (US)
ABB (Switzerland)
Texas Instruments (US)
Dassault Systèmes (France)
Honeywell (US)
Huawei Technologies (China)
IBM (US)
KUKA AG(Germany)
NEC Corporation (Japan)
Bosch (Germany)
Siemens AG (Germany)
PTC (US)
Inquire For Chapter Cost: https://reports.valuates.com/request/chaptercost/QYRE-Auto-26M10077/Global_Industrial_IoT_IIoT_Market

Buy Now for Single User + Covid-19 Impact : https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-26M10077&lic=single-user

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

SIMILAR REPORTS

IoT Market:
https://reports.valuates.com/market-reports/QYRE-Othe-3D175/global-iot

IoT Fleet Management Market :
https://reports.valuates.com/market-reports/QYRE-Auto-L394/global-iot-fleet-management

Agriculture IoT Market : https://reports.valuates.com/market-reports/QYRE-Auto-38M2615/global-agriculture-iot

IoT Sensors Market:
https://reports.valuates.com/market-reports/QYRE-Auto-0F397/global-iot-sensors

Big Data and Business Analytics Market: https://reports.valuates.com/market-reports/ALLI-Manu-3K13/gblobal-big-data-and-business-analytics

Valuates Reports
sales@valuates.com
For U.S. Toll-Free Call 1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

This release was published on openPR.