According to the new market research report by IndustryARC titled “Industrial Internet of Things (IIoT) Market: By Components (Sensors, Memory, Processors, RFID); By End Use Industry (Manufacturing, Transportation, Energy, Retail, Healthcare, Agriculture); By Geography – Forecast (2018-2023)”, the market is set to exhibit significant growth due to the growing technological advancements.
The global Industrial Internet of Things market is estimated to reach $186.32 billion in 2023, growing at a CAGR of 21% from $57.215 billion in 2017. The increase in the operational efficiency, collaboration between humans and machines, connected eco-systems, is projected to drive the market growth rate for IIoT. Manufacturing remained the dominant end-user industry for Industrial IoT market, with $29.140 billion in 2017, and will reach $121.534 billion, followed by Oil & Gas. Healthcare will remain the fastest growing industry vertical for Industrial IoT, with a CAGR of 59.8%, followed by Energy having a CAGR of 39.7% in the forecast period.
Americas continues to lead the market share during 2018-2023.
The Americas is the region with the largest market share of 27.7%, closely followed by Europe at 27.6%. The European region is projected to exhibit the fastest growth at 22.2% CAGR through 2023 to reach $68.240 billion by 2023. The growing IoT revolution in manufacturing, transport and energy sectors will drive this growth. The retail sector has been a major driver of industrial IoT in recent years, as growing use of RFID tags and environment monitoring systems led the growth.
The Americas region was estimated to register $15.539 billion in 2017, and expected to reach $58.281 billion by 2023.
Selected / Sample Analysis done in the full Report:
- Patent analysis of Industrial Internet of Things (IIoT) was conducted to analyze the developments being carried out in the market, thereby reflecting the growth of the same during the period.
- Network Management Protocols and Wireless Communication Network domains in the IIoT market witnessed significant number of patents over the period of ten years.
- Samsung Electronics, Cisco, Intel and other electronic goliaths have invested substantially in the R&D to develop industrial IoT solutions that can create product differentiation in the IIoT market.
- The IIoT market witnessed remarkable surge in the number of patents filed, due to the penetration of IoT concept in applications of industrial and factory automation, emergence of big data analytics, machine health monitoring systems and so on.
- The number of patents filed in the IIoT domain drastically escalated in 2015, on the back of increasing demand of wireless networking across the major industries for security, process management, monitoring and several other applications.
- Oil & Gas, Process Automation and Discreet Automation evolved as few promising sectors for the application of IIoT enabled devices, subsequently resulting in large number of filing of patents in respective domains.
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Excerpts on Market Growth Factors Mentioned in the Full Report:
- The high adoption of IIoT in transportation is acting like a major driving force that propels the industrial Internet of Things market growth.
- Growing need for automation for operations for power generation and transmission will drive the market for IIoT in the Energy sector.
- The growing IoT revolution in manufacturing, transport and energy sectors will drive the significant growth for Industrial Internet of Things Market during the forecast period.
- The retail sector has been a major driver for industrial IoT in recent years as growing use of RFID tags and environment monitoring systems leads the growth.
- Incorporation of IIoT in the Healthcare industry has attracted investments from major healthcare companies due to shift in focus regarding real time data. This factor is driving the growth of the IIoT in the healthcare industry.
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Key Players of the Industrial Internet of Things Market:
The major key players of the Industrial Internet of Things Market are Cisco, General Electric, Apple, Samsung, Siemens, IBM, AT&T and many others that hold an entirely different market share at global and regional markets. These players are extensive corporations with considerable amount of other products, equipment and services portfolios that has resulted in the creation of exhaustive network of distribution channels across the globe. These companies are able to leverage the same distribution channels for IIoT enabled devices or components.
Industrial Internet of Things Market Report is Segmented as below.
- Industrial Internet of Things Market By Components:
- Networking components
- Power Supply
- Industrial Internet of Things Market By Industries:
- Oil & Gas
- Industrial Internet of Things Market By Geography ( Covers 10+ Countries )
- Industrial Internet of Things Market Entropy
Companies Citied / Interviewed
- MICROSOFT CORPORATION
- ORACLE CORPORATION
- ROCKWELL AUTOMATION, INC.
- REAL-TIME INNOVATIONS, INC. (RTI)
- OMRON CORPORATION
- DATALOGIC HOLDING, INC.
- EMERSON ELECTRIC CO.
- PTC INC.
- GOOGLE, INC. (ALPHABET, INC.)
- BLACKBERRY LIMITED
- ARM LTD.
- Company 12
- Company 13
- Company 14
- Company 15+
Next Generation Communication Technologies Market
Real Time Location System Market
What can you expect from the report?
The Industrial Internet of Things Market Report is Prepared with the Main Agenda to Cover the following 20 points:
- Market Size by Product Categories
- Market trends
- Manufacturer Landscape
- Distributor Landscape
- Pricing Analysis
- Top 10 End user Analysis
- Product Benchmarking
- Product Developments
- Mergers & Acquisition Analysis
- Patent Analysis
- Demand Analysis ( By Revenue & Volume )
- Country level Analysis (10+)
- Competitor Analysis
- Market Shares Analysis
- Value Chain Analysis
- Supply Chain Analysis
- Strategic Analysis
- Current & Future Market Landscape Analysis
- Opportunity Analysis
- Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country, or application based reports in Industrial Internet of Things Market?
Response: Yes, we do have separate reports and database as mentioned below:
- North America Market for Industrial Internet of Things (2018-2023)
- Europe Market for Industrial Internet of Things (2018-2023)
- Asia-Pacific Market for Industrial Internet of Things (2018-2023)
- Energy Market for Industrial Internet of Things (2018-2023)
- Health-care Market for Industrial Internet of Things (2018-2023)
- Transportation Market for Industrial Internet of Things (2018-2023)
- Manufacturing Market for Industrial Internet of Things (2018-2023)
Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization
- Increase the level of data in application or end user industry.
- Increase the number of countries in geography or product chapter.
- Find out market shares for other smaller companies or companies which are of interest to you.
- Company profiles can be requested based on your interest.
- Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
Any other major customizations can be discussed with our team; we can provide a separate quote based on your requirements. You can drop in an e-mail to firstname.lastname@example.org to discuss more about our consulting services.
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