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Rapid Growth and Emerging Trends in the Global IIoT Platform Market: Market Size, CAGR, Key Drivers, and Future Projections
IIoT Platform Market Size
What Is The Projected Market Size Of The Global IIoT Platform Market And Its Growth Rate?
• The global IIoT platform market has grown rapidly in recent years, escalating from $11.08 billion in 2024 to $12.65 billion in 2025, registering a robust CAGR of 14.2%.
• Several factors including connectivity evolution, sensor proliferation, cost reduction, and burgeoning demand for predictive maintenance and remote monitoring drive this growth.
• Furthermore, market size is projected to witness a steep rise to $23.47 billion in 2029, expanding at a CAGR of 16.7%.
What Is Driving The Growth In The IIoT Platform Market?
Government initiatives promoting industrial automation have significantly contributed to the soaring growth of the industrial internet of things (IIOT) platform market. Worldwide, governments are initiating measures to propel industrial automation and revolutionize the industrial sector to keep up with international competition and foster country development. The Instrument Flight Rules (IFR) International Federation of Robotics reported that factories worldwide installed 553,052 new industrial robots in 2022. This marked a 5% growth from the previous year. Asia accounted for 73% of these installations. Therefore, government initiatives supporting industrial automation enormously enhance the growth of the industrial internet of things (IIOT) platform market.
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Who Are the Key Players Driving IIoT Platform Market Growth?
• Intel Corporation
• General Electric Company
• Amazon Web Services Inc.
• International Business Machine Corporation
• Microsoft Corporation
• Cisco Systems Inc.
• SAP SE
• Oracle Corporation
• PTC Inc.
• Rockwell Automation Inc.
• Emerson Electric Co.
• QiO Technologies India Pvt. Ltd.
• Google Inc.
• Hewlett-Packard Enterprise Company
• Seeq Corporation
• Hitachi Vantara Enterprise Company
• Softeq Corp.
• Cognite AS
• Johnson Controls Inc.
• Toshiba Corporation
• Mitsubishi Electric Corporation
• Honeywell International Inc.
• Siemens AG
• Schneider Electric SE
• ABB Ltd.
• Huawei Technologies Co. Ltd.
• Dell Technologies Inc.
• accenture* PLC
• Capgemini SE
• Infosys Limited
• Wipro Limited
• Tata Consultancy Services Limited
• Tech Mahindra Limited
• HCL Technologies Limited
• L&T Technology Services Limited
• Robert Bosch GmbH
• Fujitsu Limited
• NEC Corporation
• Advantech Co. Ltd.
• Telit Communications PLC
• Eurotech S.p.A.
• Wind River Systems Inc.
What Are The Key Trends In The IIoT Platform Market?
Notable market trends for the forecast period entail:
• Rising focus on the integration of edge computing
• Development of interoperability standards
• Increased usage of AI and machine learning
• Integration of 5G connectivity
• Application of Blockchain for data integrity
• Efforts towards supply chain visibility and optimization
• Collaborative partnerships and alliances
What Are The Segments Of The Global IIoT Platform Market?
• Offering: Platforms, Services
• Application: Asset Management, Remote Monitoring, Network System Management
• End-User: Manufacturing, Energy And Power, Oil And Gas, Healthcare, Logistics And Transport, Other End Users
Which Region Leads The IIoT Platform Market?
In 2024, North America emerged as the largest participant in the IIOT Platform market. However, the Asia-Pacific region is expected to lead in terms of the fastest-growing region during the forecast period. The report entails detailed analytics for regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The IIoT Platform Market Global Market Report?
- Market Size Analysis: Analyze the IIoT Platform Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the IIoT Platform Market for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall IIoT Platform Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the IIoT Platform Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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