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Industrial IoT Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

January 2023 | 105 pages | ID: I14BA0FEEE8EN
IMARC Group

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The global industrial IoT market size reached US$ 221.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 516.6 Billion by 2028, exhibiting a growth rate (CAGR) of 15.49% during 2023-2028.

Industrial Internet of Things (IIoT), also known as Industry 4.0, integrates smart industrial machine sensors and actuators with the internet to enhance manufacturing and industrial processes. It is a network of intelligent devices connected to form systems that collect, exchange, and analyze data. It helps improve operational efficiencies, monitor, and control business operations from a remote location. It encompasses various industrial applications, which include medical devices, robotics, and software-defined production processes. Besides this, it aids in enhancing employee productivity and integrating and adapting business models to save time and money. As a result, the demand for IIoT is increasing across various industries for enhanced worker safety, minimal operating costs, and increasing throughput.

Global Industrial IoT Industry Drivers:
Rapid urbanization and industrialization and the rising demand for connected devices on account of the growing global population represent one of the key factors positively influencing the market. In addition, rapid automation and the increasing utilization of IoT across different industry verticals, such as transportation, oil and gas, retail, and infrastructure, are creating a positive market outlook. The adoption of AI and IoT technologies in the manufacturing industry for predicting machine failure, early warnings, production process optimization, and quality control is offering lucrative growth opportunities to market players. Apart from this, the introduction of numerous advanced technologies in manufacturing semiconductors and electrical appliances is contributing to the market growth. In line with this, the rising use of cloud computing platforms and the standardization of IPv6 are driving the market. Furthermore, increasing investments by prominent industry players in extensive research and development (R&D) activities for upgradation are anticipated to propel the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial IoT market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on components and end-user.

Breakup by Component:

Hardware
Software
Services
Connectivity
The hardware component currently dominates the market due to the rising focus of the industrial sector on minimizing costs and improving overall equipment efficiency through better access to information from real-time solutions. In addition, the rising adoption of industrial IoT platforms by various industries is driving the market segment.

Breakup by End-User:

Manufacturing
Energy and Utilities
Automotive and Transportation
Healthcare
Others
The manufacturing industry accounts for the majority of the market share due to the increasing number of smart factories, the advent of Industry 4.0, increasing adoption of autonomous robots for industrial automation, and the rising need for centralized monitoring and asset management.

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Europe holds a clear dominance in the market due to the expansion of various industry verticals and continuous upgradation in industrial technologies across the region.

Competitive Landscape:
The report has also analyzed the competitive landscape of the market with some of the key players being Cisco Systems, Inc., General Electric, Honeywell International Inc., Intel Corporation, International Business Machines Corporation, ABB Group, Rockwell Automation, Siemens AG, Huawei Technologies Co., Ltd., Bosch, KUKA Robotics, Texas Instruments Incorporated, Dassault Syst?mes SE, PTC, Arm Limited and NEC Corporation.

IMARC Group’s latest report provides a deep insight into the global industrial IoT market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global industrial IoT market in any manner.

Key Questions Answered in This Report
1. What was the size of the global industrial IOT market in 2022?
2. What is the expected growth rate of the global industrial IOT market during 2023-2028?
3. What are the key factors driving the global industrial IOT market?
4. What has been the impact of COVID-19 on the global industrial IOT market?
5. What is the breakup of the global industrial IOT market based on the component?
6. What is the breakup of the global industrial IOT market based on the end-user?
7. What are the key regions in the global industrial IOT market?
8. Who are the key players/companies in the global industrial IOT market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL INDUSTRIAL IOT MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Component
5.5 Market Breakup by End-User
5.6 Market Breakup by Region
5.7 Market Forecast

6 MARKET BREAKUP BY COMPONENT

6.1 Hardware
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Software
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Services
  6.3.1 Market Trends
  6.3.2 Market Forecast
6.4 Connectivity
  6.4.1 Market Trends
  6.4.2 Market Forecast

7 MARKET BREAKUP BY END-USER

7.1 Manufacturing
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Energy and Utilities
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Automotive and Transportation
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4 Healthcare
  7.4.1 Market Trends
  7.4.2 Market Forecast
7.5 Others
  7.5.1 Market Trends
  7.5.2 Market Forecast

8 MARKET BREAKUP BY REGION

8.1 Europe
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 North America
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Asia Pacific
  8.3.1 Market Trends
  8.3.2 Market Forecast
8.4 Middle East and Africa
  8.4.1 Market Trends
  8.4.2 Market Forecast
8.5 Latin America
  8.5.1 Market Trends
  8.5.2 Market Forecast

9 SWOT ANALYSIS

9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats

10 VALUE CHAIN ANALYSIS

11 PORTERS FIVE FORCES ANALYSIS

11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes

12 PRICE ANALYSIS

13 COMPETITIVE LANDSCAPE

13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
  13.3.1 Cisco Systems, Inc .
  13.3.2 General Electric
  13.3.3 Honeywell International Inc.
  13.3.4 Intel Corporation
  13.3.5 International Business Machines Corporation
  13.3.6 ABB Group
  13.3.7 Rockwell Automation
  13.3.8 Siemens AG
  13.3.9 Huawei Technologies Co., Ltd.
  13.3.10 Bosch
  13.3.11 KUKA Robotics
  13.3.12 Texas Instruments Incorporated
  13.3.13 Dassault Syst?mes SE
  13.3.14 PTC
  13.3.15 Arm Limited
  13.3.16 NEC Corporation

LIST OF TABLES

Table 1: Global: Industrial IoT Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Industrial IoT Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 3: Global: Industrial IoT Market Forecast: Breakup by End-User (in Million US$), 2023-2028
Table 4: Global: Industrial IoT Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Global: Industrial IoT Market Structure
Table 6: Global: Industrial IoT Market: Key Players

LIST OF FIGURES

Figure 1: Global: Industrial IoT Market: Major Drivers and Challenges
Figure 2: Global: Industrial IoT Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Industrial IoT Market: Breakup by Component (in %), 2022
Figure 4: Global: Industrial IoT Market: Breakup by End-User (in %), 2022
Figure 5: Global: Industrial IoT Market: Breakup by Region (in %), 2022
Figure 6: Global: Industrial IoT Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 7: Global: Industrial IoT Industry: SWOT Analysis
Figure 8: Global: Industrial IoT Industry: Value Chain Analysis
Figure 9: Global: Industrial IoT Industry: Porter’s Five Forces Analysis
Figure 10: Global: Industrial IoT (Hardware) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Industrial IoT (Hardware) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Industrial IoT (Software) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Industrial IoT (Software) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Industrial IoT (Services) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Industrial IoT (Services) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Industrial IoT (Connectivity) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Industrial IoT (Connectivity) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Industrial IoT (Manufacturing) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Industrial IoT (Manufacturing) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Industrial IoT (Energy and Utilities) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Industrial IoT (Energy and Utilities) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Industrial IoT (Automotive and Transportation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Industrial IoT (Automotive and Transportation) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Industrial IoT (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Industrial IoT (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Industrial IoT (Others) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Industrial IoT (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Europe: Industrial IoT Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Europe: Industrial IoT Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: North America: Industrial IoT Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: North America: Industrial IoT Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Asia Pacific: Industrial IoT Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Asia Pacific: Industrial IoT Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Middle East and Africa: Industrial IoT Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Middle East and Africa: Industrial IoT Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Latin America: Industrial IoT Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Latin America: Industrial IoT Market Forecast: Sales Value (in Million US$), 2023-2028


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