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Industrial Internet Of Things (IIoT) Market Size, Share 2031
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Industrial Internet Of Things (IIoT) Market Size, Share 2031

Segments - Industrial Internet of Things (IIoT) Market by Types (Hardware, Software, Services, and Connectivity), End-user Verticals (Manufacturing, Transportation, Oil & Gas, Utility, and Others), and Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

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Author : Raksha Sharma
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Fact-checked by : V. Chandola
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Editor : Shruti Bhat

Upcoming | Report ID :ICT-SE-1355 | 4.8 Rating | 83 Reviews | 155 Pages | Format : PDF Excel PPT

Report Description


The global Industrial internet of things (IIoT) market size is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to rapidly increasing utilization and demand for edge computing in Industrial IoT. Moreover, rising adoption of industrial robots in the manufacturing industry is driving the market growth.

Global Industrial Internet of Things (IIoT) Market Outlook

IIoT refers to the extension and use of the IoT in industrial sectors and applications. With a strong focus on machine-to-machine (M2M) communication, big data, and machine learning, IIoT enables industries and enterprises to improve efficiency and reliability in their operations. IIoT encompasses industrial applications, including robotics, medical devices, and software-defined production processes.

IIoT systems are primarily incorporated to enhance the operational efficiency of industrial and manufacturing processes. Technologies, such as big data, is being used increasingly to harness the data generated from connected devices, to improve streamline workflow.

IoT is a network of internet-connected objects. These objects collect and exchange the data using sensors embedded within them. IoT systems connect specialized devices designed for specific purposes with a limited degree of programmability and customizability. Moreover, IoT systems also store and process data in a distributed manner.

  • Declining manufacturing and sensor costs involved in the production of IoT is one of the major drivers that is contributing to the growth of the global Industrial internet of things (IIoT) market.
  • The creation of new business models to improve productivity and provide better analytics is expected to augment the market growth.
  • Rising privacy concerns and increasing cyberattacks can create challenges for the growth of the market.
  • The outbreak of COVID-19 has negatively impact the market. However, the rising e-commerce activities is expected to create lucrative opportunities during the forecast period.

Scope of the Report

The report on the global Industrial internet of things (lIoT) market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Industrial Internet Of Things (IIoT) Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Types (Hardware, Software, Services, and Connectivity), End-user Verticals (Manufacturing, Transportation, Oil & Gas, Utility, and Others)

Regional scope

North America, Latin America, Europe, Asia Pacific, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

General Electric Company, Oracle Corporation, SAP SE, Honeywell International Inc., and IIBM Corporation.

Industrial Internet of Things (IIoT) Market Segment Insights:

Software segment to grow at a rapid pace

Based on types, the market is divided into hardware, software, services, and connectivity. The software segment is anticipated to account for a key market share and is anticipated to grow at a steady rate during the forecast period. IoT software applications often focus on solutions, which make them programmable once. Accordingly, Internet of things software developers is increasingly seeking to develop programs that facilitate cross-platform utility.

Global Industrial Internet of Things (IIoT) Market Types

Manufacturing segment to account a major market share

In terms of end-user verticals, the market is classified as manufacturing, transportation, oil & gas, utility, and others. The manufacturing segment is anticipated to account for a major market share during the forecast period. Manufacturers are intensely investing in IoT adoption, which is driving the growth of the market segment. On the other hand, the transportation segment is expected to grow at a steady rate owing to rapid growth in the e-commerce industry.

Global Industrial Internet of Things (IIoT) Market End User Verticals

Asia Pacific to account a considerable market share

On the basis of regions, the market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is anticipated to account for a considerable market share during the forecast period. Manufacturers in China are turning to Japan-based IoT companies to reduce dependency on the US. Thus, China has invited IVC member representatives to a series of China-based symposiums, addressing the IoT topic. China-based companies have also asked the IVC to help out with forming an international organization that focuses on researching and implementing better IIoT technology in the workplace.

Global Industrial Internet of Things (IIoT) Market Regions          

Segments

Segments Covered in the Report
The global Industrial Internet of things (IIoT) have been segmented on the basis of

Types
  • Hardware
  • Software
  • Services
  • Connectivity
End-user Verticals
  • Manufacturing
  • Transportation
  • Oil & Gas
  • Utility
  • Others
Regions
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa
Key Players
  • General Electric Company
  • Oracle Corporation
  • SAP SE
  • Honeywell International Inc.
  • IIBM Corporation

Competitive Landscape

The major players of the market are General Electric Company, Oracle Corporation, SAP SE, Honeywell International Inc., IIBM Corporation.

Companies are investing in various innovations and are focusing on joint ventures and acquisitions to expand their market share.

Industrial Internet of Things (IIoT) Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Industrial Internet Of Things (IIoT) Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Industrial Internet Of Things (IIoT) Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Industrial Internet Of Things (IIoT) Market - Supply Chain
  4.5. Global Industrial Internet Of Things (IIoT) Market Forecast
     4.5.1. Industrial Internet Of Things (IIoT) Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Industrial Internet Of Things (IIoT) Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Industrial Internet Of Things (IIoT) Market Absolute $ Opportunity
5. Global Industrial Internet Of Things (IIoT) Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by Types
     5.3.1. Hardware Software Services Connectivity
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Industrial Internet Of Things (IIoT) Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by End Users
     6.3.1. Manufacturing Transportation Oil & Gas Utility Others
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Industrial Internet Of Things (IIoT) Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Industrial Internet Of Things (IIoT) Demand Share Forecast, 2019-2026
8. North America Industrial Internet Of Things (IIoT) Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by Types
     8.4.1. Hardware Software Services Connectivity
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by End Users
     8.7.1. Manufacturing Transportation Oil & Gas Utility Others
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Industrial Internet Of Things (IIoT) Demand Share Forecast, 2019-2026
9. Latin America Industrial Internet Of Things (IIoT) Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by Types
     9.4.1. Hardware Software Services Connectivity
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by End Users
     9.7.1. Manufacturing Transportation Oil & Gas Utility Others
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Industrial Internet Of Things (IIoT) Demand Share Forecast, 2019-2026
10. Europe Industrial Internet Of Things (IIoT) Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by Types
     10.4.1. Hardware Software Services Connectivity
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by End Users
     10.7.1. Manufacturing Transportation Oil & Gas Utility Others
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Industrial Internet Of Things (IIoT) Demand Share Forecast, 2019-2026
11. Asia Pacific Industrial Internet Of Things (IIoT) Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by Types
     11.4.1. Hardware Software Services Connectivity
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by End Users
     11.7.1. Manufacturing Transportation Oil & Gas Utility Others
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Industrial Internet Of Things (IIoT) Demand Share Forecast, 2019-2026
12. Middle East & Africa Industrial Internet Of Things (IIoT) Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by Types
     12.4.1. Hardware Software Services Connectivity
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Industrial Internet Of Things (IIoT) Market Size and Volume Forecast by End Users
     12.7.1. Manufacturing Transportation Oil & Gas Utility Others
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Industrial Internet Of Things (IIoT) Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Industrial Internet Of Things (IIoT) Market: Market Share Analysis
  13.2. Industrial Internet Of Things (IIoT) Distributors and Customers
  13.3. Industrial Internet Of Things (IIoT) Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. General Electric Company
     13.4.2. Oracle Corporation
     13.4.3. SAP SE
     13.4.4. Honeywell International Inc.
     13.4.5. IIBM Corporation

Methodology

Our Clients

General Electric
FedEx Logistics
The John Holland Group
Siemens Healthcare
Nestle SA
Honda Motor Co. Ltd.
Microsoft
Deloitte