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Industrial IoT Market worth $162.26 billion by 2030, growing at a CAGR of 9.41% - Exclusive Report by 360iResearch
Industrial IoT Market | 360iResearch
The Global Industrial IoT Market to grow from USD 86.45 billion in 2023 to USD 162.26 billion by 2030, at a CAGR of 9.41%.
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The Industrial Internet of Things (IIoT) encompasses the network of physical devices, instruments, machinery, and technologies that utilize embedded sensors, software, and other forms of connectivity to collect, exchange, and analyze data in industrial settings. This market aims to improve operational efficiencies, enhance safety, minimize downtime, and enable predictive maintenance through the integration of smart machines and real-time analytics with the classic industrial ecosystem. IIoT solutions find applications across various sectors, such as manufacturing, energy, logistics, and healthcare, among others. The growing need for enhanced operational efficiency, the advent of Industry 4.0, and the drop in sensor and connectivity costs are primary drivers. Adoption of cloud computing and the surge in demand for actionable insights from industrial data further propel the market. Key challenges include concerns over data privacy and security, the complexity of integration across diverse industrial environments, and the scarcity of skilled IoT professionals. Furthermore, issues related to interoperability and standardization of IoT devices pose significant hurdles. Opportunities arise from the ongoing advancements in artificial intelligence (AI) and machine learning (ML) technologies to enhance data analytics. The push toward sustainable and green practices in manufacturing through IoT, and the potential for predictive maintenance to save costs and improve uptime, are promising areas of expansion.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Industrial IoT Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Industrial IoT Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Industrial IoT Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Ansys, Inc., Arm Ltd., Cisco Systems, Inc., Dassault Systèmes SE, General Electric Company, Honeywell International Inc., Huawei Technologies Co., Ltd., Intel Corporation, International Business Machines Corporation, KUKA AG, NEC Corporation, PTC Inc., Robert Bosch GmbH, Rockwell Automation, Inc., SAP SE, Siemens AG, Sigfox S.A., Texas Instruments Incorporated, and Worldsensing SL.
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Market Segmentation & Coverage:
This research report categorizes the Industrial IoT Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Technology, market is studied across Camera, Condition Monitoring, Distributed Control System, Electronic Shelf Label, Flow and Application Control Device, GPS or GNSS, Guidance and Steering, Industrial Robotics, Interface Board, Networking Technology, RFID, Sensor, Smart Beacon, Smart Meter, and Yield Monitor. The Interface Board is further studied across Communication Board, Multifunctional Board, and Vehicle Detection Board. The Networking Technology is further studied across Wired Technologies and Wireless Technologies. The Wired Technologies is further studied across Ethernet, Foundation Fieldbus, Modbus, and Profinet. The Wireless Technologies is further studied across Bluetooth Low Energy, Cellular Technologies, Satellite Technology, Wi-Fi, and ZigBee. The Networking Technology commanded largest market share of 19.06% in 2023, followed by Sensor.
Based on Industry, market is studied across Agriculture, Automotive & Transportation, BFSI, Chemicals & Material Processing, Energy & Utility, Healthcare & Pharmaceuticals, IT & Telecommunication, Metal & Mining, Oil & Gas, Retail & Consumer Goods, and Semiconductors. The IT & Telecommunication commanded largest market share of 16.43% in 2023, followed by Retail & Consumer Goods.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 35.47% in 2023, followed by Europe, Middle East & Africa.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Industrial IoT Market, by Technology
7. Industrial IoT Market, by Industry
8. Americas Industrial IoT Market
9. Asia-Pacific Industrial IoT Market
10. Europe, Middle East & Africa Industrial IoT Market
11. Competitive Landscape
12. Competitive Portfolio
13. Appendix
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Industrial IoT Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Industrial IoT Market?
3. What is the competitive strategic window for opportunities in the Industrial IoT Market?
4. What are the technology trends and regulatory frameworks in the Industrial IoT Market?
5. What is the market share of the leading vendors in the Industrial IoT Market?
6. What modes and strategic moves are considered suitable for entering the Industrial IoT Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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