Industrial IoT Market Report, Growth, Share, Region, Key Players and Forecast Till 2024

Global Industrial IoT Market Report and Forecast 2024 Report Edition: 2019 © 2019 IMARC All Rights Reserved

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Global Industrial IoT Market Overview: According to the latest report by IMARC Group, titled “ Industrial IoT Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024 �, the global industrial IoT market size is expected to grow at a moderate rate over the forecast period (2019-2024). Industrial Internet of Things (IIoT) is a network of interconnected sensors and devices, which are used to enhance industrial and manufacturing processes. The smart sensors and actuators employed in the network enable monitoring, collection, analysis and exchange of data, which improves the overall operational performance and visibility. With the advent of advanced technologies, like big data, sensor data, machine learning and automation, IIoT helps in increasing productivity significantly while reducing various recurring complexities. Additionally, it offers multiple advantages including realtime monitoring, asset optimization, remote diagnosis, cost-effectiveness and proactive maintenance.

Owing to these benefits, it is widely adopted across diversified industry verticals, including healthcare, retail, advertising and agriculture.

Industrial IoT Market Trends The rapid adoption of IIoT across the globe can be accredited to numerous advantages associated with it.

Report Description and Highlights

157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Billion US$

in Billion US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

Its usage assists in improving the safety, quality and productivity in an industry, which renders better customer satisfaction and retention through value addition to the enterprises. This, in confluence with the rising preference for cloud integration, is aiding in the development of effective business models and providing a thrust to the market growth.

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Furthermore, the growing popularity of connected vehicles in recent years is expected to create a positive outlook for the market. The IIoT is integral to the sharing of real-time status and data, which significantly reduces the on-road traffic and enables organized fleet management. Moreover, governments of various countries are investing heavily in the development of technological infrastructures of industries, which is creating favorable opportunities for market growth. For instance, Make in India and Made in China 2025 by the Government of India and Government of People’s Republic of China, respectively, are some of the initiatives, which are anticipated to drive the market further.

For more information, click here: https://www.imarcgroup.com/industrial-iot-market Industrial IoT Market Segmentation: Market Segmentation by Component • • • •

Hardware Software Services Connectivity

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Based on the component, the market has been divided into hardware, software, services and connectivity.

Market Segmentation by End User • • • • •

Manufacturing Energy and Utilities Automotive and Transportation Healthcare Others

On the basis of the end user, the market has been categorized as manufacturing, energy and utilities, automotive and transportation, healthcare, and others.

Market Segmentation by Region • • •

North America Europe Asia Pacific

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Latin America Middle East and Africa

On the geographical front, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

• • • • • • • •

Cisco Ge Honeywell Intel IBM ABB Rockwell Automation Siemens

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Huawei Bosch Kuka Texas Instrumemts Dassault Systemes PTC ARM NEC

A partial List of

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Clients world's leading corporates, governments, and ourPartial ClientsList of institutions

A partial List of

We are the trusted business partners to the

of Clients leading corporates, governments, and ourPartial ClientsListworld's institutions

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