Press release
Industrial Internet of Things Market is Estimated to Reach USD 1219.3 billion by 2030: Cognitive Market Research
Industrial Internet of Things Market is Estimated to Reach USD 1219.3 billion by 2030: Cognitive Market Research
- Industrial Internet of Things (IIoT) refers to the application of the Internet of Things (IoT) technology in industrial settings. It involves connecting a vast network of sensors, devices, and machinery to the Internet, allowing for real-time data collection, analysis, and communication. This data is then used to improve efficiency, optimize operations, and drive innovation in the industrial sector.
Summary:
- Global Industrial Internet of Things Market is Estimated to Grow at a CAGR of 21.7% within the forecast period of 2023-2030.
To know more Industrial Internet of Things Market statistics click here: https://www.cognitivemarketresearch.com/industrial-internet-of-things-market-report
Market Dynamics:
- To meet customer demands in an increasingly complex manufacturing landscape, even more capable automation technology is required. Manufacturing businesses are focusing more on adopting the Industrial Internet of Things stand to gain on all levels, ranging from production efficiency, customer satisfaction, and overarching business decisions. IIoT technology can be used to monitor the performance of machines, predict maintenance needs, and improve supply chain management. In the energy sector, IIoT can help optimize power generation and distribution.
- IIoT offers numerous benefits, such as improved productivity, increased reliability, reduced downtime, and enhanced safety. IIoT has the potential to significantly improve manufacturing and industrial processes by enabling real-time data collection and analysis, which can drive efficiency, productivity, and innovation.
- The increasing adoption of automation techniques used in various sectors such as manufacturing, automobile, and transportation. Furthermore, increasing advances in technology and increasing R&D activities with increasing government support are all driving the industrial IoT market. Moreover, the growing need to improve operational competence and simplify complex manufacturing processes is supporting market growth.
Market Segmentation:
- Component
• Solution
• Services
• Platform
By Component, the Services segment holds the largest share and is expected to dominate during the forecast period. This is due to the increasing number of connected gadgets.
- End-Use
• Metal & Mining
• Chemical
• Manufacturing
• Energy & Power
• Oil & Gas
• Healthcare
• Logistics & Transport
• Agriculture
• Others
Based on the end-use segment, the manufacturing sub-segment accounted for the largest market share of the Industrial Internet of Things market owing to the growing manufacturing sector, the rising need for managing complex manufacturing processes, and the rapid adoption of automation are driving growth of the market in North America.
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- North America held the major share owing to the increasing adoption of automation, and this region has a well-established technological infrastructure, with a high level of connectivity and advanced technology systems in place, making it easier to implement IIoT solutions. The increasing number of manufacturing companies operating in industries that can benefit from IIoT technology, such as automotive, aerospace, and electronics manufacturing are driving the growth of the market in North America. Moreover, increasing investment in research and development (R&D) in North America, has led to the development of new and innovative IIoT technologies. This factor drives the growth of the Industrial Internet of Things market.
Browse here for Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Industrial Internet of Things Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Segmentation
1.5.1 Regional Fragmentation
1.5.1 Market Players
• 1.6 Report Duration
Chapter 2 Research Methodology
Chapter 3 Executive Summary
• 3.1 Global Industrial Internet of Things Market Size 2018 - 2030, (USD Million)
• 3.2 Global Industrial Internet of Things Market: Snapshot
Chapter 4 Global Industrial Internet of Things Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Qualitative Analysis
Chapter 7 Company Profiling (Subject to Availability)
Chapter 8 Global Industrial Internet of Things Market by Type Segmentation Analysis (2018-2030)
Chapter 9 Global Industrial Internet of Things Market by Application Segmentation Analysis (2018-2030)
Chapter 10 Global Industrial Internet of Things Market Regional Analysis
Chapter 11 North America Industrial Internet of Things Market Outlook (2018 - 2030)
Chapter 12 Europe Industrial Internet of Things Market Outlook (2018 - 2030)
Chapter 13 Asia Pacific Industrial Internet of Things Market Outlook (2018 - 2030)
Chapter 14 Latin America Industrial Internet of Things Market Outlook (2018 - 2030)
Chapter 15 Middle East and Africa Industrial Internet of Things Market Outlook (2018 - 2030)
Chapter 16 Research Findings
FULL TOC: https://www.cognitivemarketresearch.com/industrial-internet-of-things-market-report#table_of_contents
Related Report:
• Internet Of Things Security Market- https://www.cognitivemarketresearch.com/internet-of-things-security-market-report
• Internet Of Things Devices Market- https://www.cognitivemarketresearch.com/internet-of-things-devices-market-report
• Internet Of Things In Healthcare Market- https://www.cognitivemarketresearch.com/internet-of-things-in-healthcare-market-report
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
20 N State Street,Chicago,
Illinois, 60602
United States
USA: +1 312-376-8303
Europe and UK: (+44) 20-8144-9523
Asia Pacific: (+852) 81930785
Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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