Key Trends Reshaping the IIoT Platform Market: Integration Of Advanced Technology Drives Advancements In The Industrial Internet Of Things (IIOT) Platform Market Industry Transformation

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IIoT Platform Market Size Growth Forecast: What to Expect by 2025?
The market size of the iiot platform has seen fast-paced growth in the past few years. It's projected to escalate from $11.08 billion in 2024 to $12.55 billion in 2025, with a compound annual growth rate (CAGR) of 13.3%. Factors such as the evolution of connectivity, the spread of sensors, reduction in costs, the need for predictive maintenance, and remote monitoring have contributed to this growth observed in the historic period.

How Will the IIoT Platform Market Size Evolve and Grow by 2029?
Expectations are high for a swift expansion in the iiot platform market over the coming years, with the market predicted to reach $22.98 billion by 2029, growing at a compound annual growth rate (CAGR) of 16.3%. Factors contributing to the predicted growth in the forecast period include the implementation of digital twin technology, a heightened emphasis on environmental sustainability, the utilization of autonomous vehicles and drones, real-time quality control measures and the potential for customization and scalability. Key emerging trends predicted in the forecast period encompass the incorporation of edge computing, a focus on interoperability standards, the fusion of ai and machine learning, 5g connectivity, using blockchain for data integrity, vision and optimization of supply chains, and increased collaboration and partnerships.

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What Drivers Are Propelling the Growth of IIoT Platform Market Forward?
The industrial internet of things (IIOT) platform market has grown significantly due to governmental efforts to boost industrial automation. Industrial automation - the utilization of technologies like robotics and computer software to autonomously control machinery and industry processes - is being actively promoted by governments worldwide. These initiatives aim to revolutionize the industrial sector, fostering competition and development. Case in point, the Instrument Flight Rules (IFR) International Federation of Robotics, based in Germany, reported in September 2023 that there were 553,052 fresh industrial robot installations worldwide in 2022, a 5% increase from the previous year. The geographic distribution showed that Asia hosted 73% of these installations, with Europe and the Americas supporting 15% and 10%, respectively. Consequently, the surge in the industrial internet of things (IIOT) platform market can be attributed to these governmental efforts to bolster industrial automation.

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Which Emerging Trends Are Transforming the IIoT Platform Market in 2025?
Technological advancement is emerging as a significant trend in the industrial internet of things (IIOT) platform market. The leading enterprises in the market are primarily centered on launching technologically fresh and creative products to solidify their market footprint. To exemplify, RS Components, a UK-based distributor of industrial equipment and facilities, collaborated with Tata Consultancy Services, an IT services and consulting firm from India, in April 2022 to roll out RS Industria, a fresh cloud-based Industrial Internet of Things (IIOT) platform. RS Industria simplifies the connection of existing manufacturing asset data sources, such as vibration sensors, PLCs, SCADA systems, and utility meters. Through the use of machine learning, artificial intelligence (AI), augmented reality (AR), and virtual reality (VR) technologies, RS Components can gain enhanced and expedited insights into their data. This platform also helps to facilitate the connection of existing production asset data sources, including vibration sensors, PLCs, SCADA systems, and utility meters.

What Are the Key Segments in the IIoT Platform Market?
The iiot platformmarket covered in this report is segmented -

1) By Offering: Platforms, Services
2) By Application: Asset Management, Remote Monitoring, Network System Management
3) By End-User: Manufacturing, Energy And Power, Oil And Gas, Healthcare, Logistics And Transport, Other End Users

Subsegments:
1) By Platforms: IoT Device Management Platforms, Data Management Platforms, Analytics Platforms, Application Enablement Platforms, Connectivity Platforms
2) By Services: Consulting Services, System Integration Services, Maintenance And Support Services, Training And Education Services

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Who Are the Key Players Shaping the IIoT Platform Market's Competitive Landscape?
Major companies operating in the IIoT platform market are 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 Geographic Markets Are Powering Growth in the IIoT Platform Market?
North America was the largest region in the IIOT Platform market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the IIOT platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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