Industrial Internet of Things (IIoT) - Global Strategic Business Report

The global market for Industrial Internet of Things (IIoT) was estimated at US$90.6 Billion in 2023 and is projected to reach US$136.8 Billion by 2030, growing at a CAGR of 6.1% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Industrial Internet of Things (IIoT) Market - Key Trends & Drivers Summarized

How Is IIoT Transforming Industrial Operations?

The Industrial Internet of Things (IIoT) is redefining industrial processes by enabling connectivity across machines, sensors, and control systems. By connecting these devices, IIoT facilitates real-time data collection, predictive maintenance, and enhanced decision-making. This technology is particularly transformative in manufacturing, energy, and logistics, where real-time insights can lead to more efficient operations and reduced downtimes. As industries prioritize efficiency and cost reduction, IIoT's ability to streamline processes and optimize resource usage has made it indispensable in the shift towards smart manufacturing.

What Security and Compliance Challenges Accompany IIoT Adoption?

While IIoT offers numerous benefits, it also introduces challenges related to cybersecurity and data compliance. The interconnected nature of IIoT systems increases the risk of cyber-attacks, prompting industries to adopt more robust security protocols and comply with data protection standards. Ensuring the integrity and confidentiality of operational data is crucial, especially in critical infrastructure sectors like energy and transportation. Furthermore, global data protection laws require companies to handle information responsibly, adding another layer of complexity to IIoT adoption. As industries embrace IIoT, addressing these security and compliance concerns is critical to maintaining safe and reliable operations.

How Is Edge Computing Enhancing IIoT Capabilities?

Edge computing has emerged as a powerful complement to IIoT, enabling data processing closer to the source rather than relying on centralized cloud servers. This approach reduces latency, enhances data security, and enables real-time decision-making, particularly in sectors that require immediate responses, such as manufacturing and healthcare. By combining IIoT with edge computing, companies can process and analyze data at the device level, leading to quicker insights and less network congestion. This synergy between IIoT and edge computing is expanding the scope of IIoT applications, making it possible to implement highly responsive systems across industries.

The Growth in the IIoT Market Is Driven by Several Factors

The growth in the IIoT market is driven by several factors, including advancements in sensor technology, the demand for real-time data analytics, and the need for predictive maintenance. As industries aim to improve operational efficiency, IIoT enables better monitoring of machinery and processes, helping reduce downtime and maintenance costs. The rise of smart factories and Industry 4.0 is also fostering IIoT adoption, as companies seek interconnected systems that support automation and data-driven decision-making. Additionally, the increasing focus on safety and compliance is pushing industries to adopt IIoT solutions that provide enhanced monitoring and risk management. Combined, these factors are propelling the IIoT market's rapid expansion in various industrial sectors.

Scope of the Study

The report analyzes the Industrial Internet of Things (IIoT) market, presented in terms of market value (US$ Million). The analysis covers the key segments and geographic regions outlined below.

Segments

Device & Technology (Sensor, RFID, Industrial Robotics, DCS, Smart Beacon, Other Device & Technologies); End-Use (Manufacturing, Energy, Oil & Gas, Metal & Mining, Agriculture, Other End-Uses)

Geographic Regions/Countries

World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Sensor Technology segment, which is expected to reach US$40.2 Billion by 2030 with a CAGR of a 6.2%. The RFID Technology segment is also set to grow at 6.6% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $24.7 Billion in 2023, and China, forecasted to grow at an impressive 5.7% CAGR to reach $21.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Industrial Internet of Things (IIoT) Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Industrial Internet of Things (IIoT) Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Industrial Internet of Things (IIoT) Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players in the Global Industrial Internet of Things (IIoT) Market such as ABB Group, Cisco Systems, Inc., Dassault Systemes, General Electric Company, Honeywell International, Inc. and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 91 companies featured in this Global Industrial Internet of Things (IIoT) Market report include:

• ABB Group
• Cisco Systems, Inc.
• Dassault Systemes
• General Electric Company
• Honeywell International, Inc.
• Huawei Technologies Co., Ltd.
• IBM Corporation
• Intel Corporation
• KUKA AG
• NEC Corporation
• PTC, Inc.
• Robert Bosch GmbH
• Rockwell Automation, Inc.
• Siemens AG
• Texas Instruments, Inc.