New York – Industrial IoT Market Trends and Forecast
The future of the industrial IoT market looks promising with opportunities in the manufacturing, transportation, energy, retail, healthcare, and other industries. The global industrial IoT market is expected to reach an estimated $403.3 billion by 2027 with a CAGR of 20% from 2021 to 2027. The major drivers for this market are increasing demand for automation in manufacturing industry, increasing adoption for IoT and AI, rising awareness for safety and security, and standardization of IPv6.
Emerging Trends in the Industrial IoT Market
Emerging trends, which have a direct impact on the dynamics of the industrial IoT industry, include growing adoption of artificial intelligence in IoT applications, edge computing, and blockchain technology in IoT.
Industrial IoT Market by Segment
The study includes trends and forecast for the global industrial IoT market by end use industry, connectivity, component, device and technology, and region as follows:
Industrial IoT Market by End Use Industry [$B shipment analysis for 2016 – 2027]:
• Manufacturing
• Transportation
• Energy
• Retail
• Healthcare
• Others
Industrial IoT Market by Connectivity [$B shipment analysis for 2016 – 2027]:
• Wired
• Wireless
Industrial IoT Market by Component [$B shipment analysis for 2016 – 2027]:
• Solution
o Remote Monitoring
o Real-Time Location System
o Network Management
o Security
o Data Management
• Service
o Professional Service
o Managed Service
Industrial IoT Market by Device and Technology [$B shipment analysis for 2016 – 2027]:
• Sensors
• RFID
• Industrial Robotics
• Distributed Control System
• Others
Industrial IoT Market by Region [$B shipment analysis for 2016 – 2027]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Industrial IoT Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies industrial IoT companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the industrial IoT companies profiled in this report includes.
• PTC
• SAP
• Cisco
• General Electric
• Siemens
• IBM
• Intel Corporation
• Huawei
• Microsoft
Industrial IoT Market Insight
• The analyst forecasts that manufacturing will remain the largest end use industry during the forecast period due to predicative maintenance, demand for technology advancement and need for improved operation efficiency in various industries.
• Wireless connectivity will remain the largest segment due to increasing usage of Wi-Fi, bluetooth, and cellular and satellite technologies.
• Asia Pacific will remain the largest region over the forecast period, supported by growing urbanization, increasing internet penetration, and growing adoption of IoT in various industries in the region.
Features of Industrial IoT Market
• Market Size Estimates: Industrial IoT market size estimation in terms of value ($B)
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
• Segmentation Analysis: Market size by end use industry, connectivity, component, and device and technology.
• Regional Analysis: Industrial IoT market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different end use industry, connectivity, component, device and technology, and regions for the industrial IoT market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the industrial IoT market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the industrial IoT market size?
Answer: The global industrial IoT market is expected to reach an estimated $403.3 billion by 2027.
Q2. What is the growth forecast for industrial IoT market?
Answer: The industrial IoT market is expected to grow at a CAGR of 20% from 2021 to 2027.
Q3. What are the major drivers influencing the growth of the industrial IoT market?
Answer: The major drivers for this market are increasing demand for automation in manufacturing industry, increasing adoption for IoT and AI, rising awareness for safety and security, and standardization of IPv6.
Q4. What are the major applications or end use industries for industrial IoT?
Answer: Manufacturing and transportation are the major end use industries for industrial IoT.
Q5. What are the emerging trends in industrial IoT market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industrial IoT industry, include growing adoption of artificial intelligence in IoT applications, edge computing, and blockchain technology in IoT.
Q6. Who are the key industrial IoT companies?
Answer: Some of the key industrial IoT companies are as follows:
• PTC
• SAP
• Cisco
• General Electric
• Siemens
• IBM
• Intel Corporation
• Huawei
• Microsoft
Q7.
Which industrial IoT product segment will be the largest in future?
Answer: The analyst forecasts that wireless connectivity will remain the largest segment due to increasing usage of Wi-Fi, bluetooth, and cellular and satellite technologies.
Q8: In industrial IoT market, which region is expected to be the largest in next 5 years?
Answer: Asia Pacific is expected to remain the largest region and witness the highest growth over next 5 years.
Q9. Do we receive customization in this report?
Answer: Yes, The analyst provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1 What are some of the most promising potential, high growth opportunities for the global industrial IoT market by end use industry (manufacturing, transportation, energy, retail, healthcare, and others), connectivity (wired and wireless), component (solution and service), device and technology (sensors, RFID, industrial robotics, distributed control system, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?
Source: ReportLinker
