Industrial IoT Market North America – Global Industry Analysis and Forecast (2023-2029)

Industrial IoT Market is expected to reach US$ 37.79 Mn. by 2029 with a CAGR of 10.1%, during the forecast period.

Industrial IoT Market has been changing the way industrial sector evolved in the last few decades. Industrial internet of things, or in other words known as IIoT, involves the use of the internet of things technologies for enhancing manufacturing as well as the industrial processes. IIoT helps in incorporating machine learning and big data technologies to control the sensor data, communication between machines and automation technologies likely existing in industrial settings for many years.

The overall driving philosophy behind the IIoT working is that smart machines have gradually become better than humans at accurately as well as consistently capturing and communicating real-time data. Having the real-time data enables companies to pick up on various inefficiencies at the correct time and work on the problems sooner thereby saving both time and money for supporting business intelligence efforts.To know about the Research Methodology:-Request Free Sample Report

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

Driven by the need for intelligent connected devices in industrial as well as commercial applications, the total number of connected IoT devices have grown immensely and crossed the 31 Billion unit Industrial IoT Market in 2018 itself. The commercial along with the industrial sector was powered by building automation, industrial automation or lighting, making the forecast for about half of all new connected devices coming between 2018 and 2030.

The IoT is not an extremely recent phenomenon, but things are new when now the working is hand in hand with other transformative technologies such as artificial intelligence or the cloud. The demand for IoT connectivity and smart cities is fuelling the convergence of verticals across industrial IoT, smart cities or buildings, and the connected home. Hardware components have been crucial to the overall acceptance of industrial IoT and thus held one of the largest Industrial IoT Market share in North America followed by software and services that hold numerous opportunities in the future as well.

North America has been at the forefront of including and implementing IoT within their industrial, professional and personal infrastructure. There have been numerous changes observed especially in the US when it comes to implementing IoT for various causes that include optimizing work schedule along with getting real-time information about the inventory. Canada has also been implementing changes especially after huge investments being made by the government to boost IoT application in the industrial sector and will likely provide new opportunities in the future as well.

The objective of the report is to present comprehensive Industrial IoT Market for Asia Pacific including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.

The report also helps in understanding Industrial IoT Market for Asia Pacific dynamics, structure by analyzing the market segments, and project the Industrial IoT Market for Asia Pacific   size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Industrial IoT Market for Asia Pacific make the report investor’s guide.
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Global Industrial Iot Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 19.26 Mn.


Forecast Period 2023 to 2029 CAGR:
10.1%
Market Size in 2029:
US $ 37.79 Mn.


 Segments Covered:
by Device & Technology
Sensor
RFID
Industrial Robotics
DCS
Condition Monitoring
Smart Meter
Camera System
Networking Technology


by Software
PLM
MES
SCADA


by Vertical
Manufacturing
Energy
Oil &Gas
Metal & Mining
Healthcare
Retail
Transportation
Agriculture



Industrial IoT Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Industrial IoT Market, Key Players are
1. AT&T
2. Cisco, Inc.
3. GE
4. IBM
5. Intel Corporation
6. Qualcomm
7. Accenture
8. Amazon
9. ARM
10. Atos
11. Verizon
12. Microsoft Corporation
13. Google
14. Oracle Corporation
15. PTC
16. Ark Electronics
17. Ericsson, Inc.
18. Digi International Ltd.
19. Softura, Inc.
20. Amtech Electrocircuits, Inc.
21. SBT Alliance
22. Softweb Solutions, Inc.
Frequently Asked questions
1. What is the market size of the Global Industrial Iot Market in 2022?
Ans. The market size Global Industrial Iot Market in 2022 was US$ 19.26 Million.

2. What are the different segments of the Global Industrial Iot Market?
Ans. The Global Industrial Iot Market is divided into Software, Vertical and Device & Technology.

3. What is the study period of this market?
Ans. The Global Industrial Iot Market will be studied from 2022 to 2029.

4. Which region is expected to hold the highest Global Industrial Iot Market share?
Ans. The Asia Pacific dominates the market share in the  market.

5. What  is the Forecast Period of Global Industrial Iot Market?
Ans. The Forecast Period of the market is 2023-2029 in the market.