Industrial Internet of Things Market Sees Strong Demand from Manufacturing and Healthcare

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Industrial Internet of Things Market - (By Component (Hardware, Solution (Remote Monitoring, Data Management, Analytics, Security Solutions, Others), Services (Professional, Managed), Platform (Connectivity Management, Application Management, Device Management)), By End-use (Aviation, Metal & Mining, Chemical, Manufacturing, Energy & Power, Smart Grids, Oil & Gas, Healthcare, Logistics & Transport, Agriculture, Retail, Others), By Software, By Connectivity Technology, By Device and Technology), Trends, Industry Competition Analysis, Revenue and Forecast To 2034."

Global Industrial Internet of Things Market Size is valued at USD 192.9 Bn in 2024 and is predicted to reach USD 445.9 Bn by the year 2034 at a 9.0% CAGR during the forecast period for 2025-2034.

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The Industrial Internet of Things (IIoT) delivers substantial benefits, including improved operational efficiency, minimized downtime through predictive maintenance, enhanced safety protocols, optimized energy usage, and the ability to enable real-time, data-driven decision-making.

IIoT refers to the deployment of Internet of Things (IoT) technologies within industrial and manufacturing environments, integrating operational technology (OT) with information technology (IT) to maximize overall system performance. Market growth is driven by factors such as the increasing availability of cost-effective sensors and processors that support real-time data monitoring, as well as continuous advancements in industrial automation technologies. These innovations facilitate enhanced collaboration among stakeholders, drive operational efficiency across sectors, and contribute to the rapid expansion of the global IIoT market.

List of Prominent Players in the Industrial Internet of Things Market:
• ABB Ltd.
• ARM Holding Plc
• Cisco Systems, Inc.
• International Business Machines (IBM) Corporation
• Rockwell Automation, Inc.
• General Electric Company (GE)
• Honeywell International Inc.
• Intel Corporation
• Atmel Corporation
• Microsoft Corporation
• Schneider Electric SE
• Siemens AG
• Robert Bosch GmbH
• NEC Corporation
• Kuka AG
• Huawei Technology Co., Ltd.
• Dassault Systèmes
• Texas Instruments Inc.
• Tech Mahindra Limited
• Other Market Players

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Market Dynamics
Drivers:
The Industrial Internet of Things (IIoT) market is experiencing strong growth, driven by several key factors. Rapid industrialization, urban expansion, and a growing global population are increasing demand for interconnected devices. Additionally, the adoption of IoT technologies across multiple industries-including manufacturing, retail, infrastructure, oil and gas, and transportation-is contributing significantly to market development.

Within the industrial sector, AI and IoT solutions are increasingly utilized to enhance quality control, implement early warning systems, enable predictive maintenance, and optimize overall operational efficiency. Continuous advancements in semiconductor technology and electronic components further support the expansion of the IIoT market.

Challenges:
Integrating IoT solutions into industrial operations requires careful planning, extended deployment timelines, and comprehensive automation strategies. The need for accurate operational visualization and real-time monitoring can prolong implementation, while extensive workforce training in both system operation and maintenance may pose additional constraints. Ensuring robust and flexible security frameworks across various sectors-including healthcare, education, and residential environments-presents another significant challenge. Furthermore, the rapid pace of technological innovation necessitates continuous workforce upskilling and adaptability, which may limit broader market adoption.

Regional Trends:
North America is expected to retain a leading share of the IIoT market, driven by early adoption of IIoT solutions, widespread implementation, and supportive government initiatives promoting industrial digitalization. The Asia-Pacific region is also emerging as a high-growth market, fueled by rising demand for advanced factory automation systems in countries such as China and Japan. South Korea, in particular, is witnessing rapid expansion due to smart factory initiatives, deployment of 5G networks, and the ongoing advancement of Industry 4.0 standards.

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Recent Developments:
• In June 2023, ABB and China Telecom established a collaborative laboratory in Hangzhou, China, focused on digitalization and industrial Internet of Things (IoT) technologies. The partnership between ABB Measurement & Analytics China Technology Center and China Telecom's Internet of Things subsidiary, E Surfing IoT, aimed at creating comprehensive industrial IoT solutions for Chinese industrial companies.
• In June 2023, The partnership between PTC and Rockwell Automation was expanded to include the implementation of augmented reality (AR) and Internet of Things (IoT) software by the manufacturing sector. Rockwell Automation maintained its reselling of Vuforia® augmented reality (AR) and PTC's ThingWorx® IoT software, which included the Digital Performance Management (DPM)TM manufacturing solution, to both new and existing clients in the process and discrete manufacturing industries.

Segmentation of Industrial Internet of Things Market-
By Component-
• Hardware
• Solution
o Remote Monitoring
o Data Management
o Analytics
o Security Solutions
o Others
• Services
o Professional
o Managed
• Platform
o Connectivity Management
o Application Management
o Device Management
By End-use-
• Aviation
• Metal & Mining
• Chemical
• Manufacturing
• Energy & Power
• Smart Grids
• Oil & Gas
• Healthcare
• Logistics & Transport
o Intelligent Signaling System
o Video Analytics
o Incident Detection System
o Route Scheduling Guidance System
• Agriculture
o Precision Farming
o Livestock Monitoring
o Smart Greenhouses
o Fish Farming
• Retail
o Point of Sales
o Interactive Kiosks
o Self-Checkout Systems
o Others
• Others
By Software-
• Product Lifecycle Management
• Manufacturing Execution Systems
• SCADA
• Outage Management Systems
• Distribution Management Systems
• Remote Patent Monitoring
• Retail Management Software
• Visualization Software
• Transit Management Systems
• Farm Management Systems
By Connectivity Technology-
• Wired Technology
o Ethernet
 Modbus
 Profinet
 CC-Link
o Foundation Fieldbus
• Wireless Technology
o Wi-Fi
o Bluetooth
o Cellular Technologies
 4G/LTE
 5G
o Satellite Technologies
By Device and Technology-
• Sensors
• Radio Frequency Identification (RFID)
• Industrial Robotics
• Distributed Control Systems
• Condition Monitoring
• Smart Meters
• Electronic Shelf Labels
• Cameras
• Smart Beacons
• Interface Boards
• Yield Monitors
• Guidance & Steering
• GPS/GNSS
• Flow & Application Control Devices
• Networking Technology
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

View Overview Report: https://www.insightaceanalytic.com/report/industrial-internet-of-things-market/2370

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This release was published on openPR.