The future of the industrial IoT market looks promising with opportunities in the manufacturing, transportation, energy, retail, healthcare, and other industries. The global industrial IoT market is expected to reach an estimated $344.7 billion by 2026 with a CAGR of 21% from 2021 to 2026. The major drivers for this market are increasing demand for automation in manufacturing industry, increasing adoption for IoT and AI, rising awareness for safety and security, and standardization of IPv6.
Emerging trends, which have a direct impact on the dynamics of the industrial IoT industry, include growing adoption of artificial intelligence in IoT applications, edge computing, and blockchain technology in IoT.
A total of 86 figures / charts and 75 tables are provided in this 160-page report to help in your business decisions.
The study includes trends and forecasts for the global industrial IoT market by end use industry, connectivity, component, device and technology, and region as follows:
By End Use Industry [$B shipment analysis for 2015 - 2026]:
By Connectivity [$B shipment analysis for 2015 - 2026]:
By Component [$B shipment analysis for 2015 - 2026]:
- Remote Monitoring
- Real-Time Location System
- Network Management
- Data Management
- Professional Service
- Managed Service
By Device and Technology [$B shipment analysis for 2015 - 2026]:
- Industrial Robotics
- Distributed Control System
By Region [$B shipment analysis for 2015 - 2026]:
- North America
- Asia Pacific
- The Rest of the World
Some of the industrial IoT companies profiled in this report include: PTC, SAP, Cisco, General Electric, and Siemens.
Lucintel forecasts that wireless connectivity will remain the largest segment due to increasing usage of Wi-Fi, bluetooth, and cellular and satellite technologies.
IoT for manufacturing will remain the largest end use industry during the forecast period due to predicative maintenance, demand for technology advancement and need for improved operation efficiency in various industries.
Asia Pacific will remain the largest region over the forecast period, supported by growing urbanization, increasing internet penetration, and growing adoption of IoT in various industries in the region.
Features of the industrial IoT Market
- Market Size Estimates: Industrial IoT market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2015-2020) and forecast (2021-2026) by various segments and regions.
- Segmentation Analysis:Industrial IoT market size by various segments, such as end use industry, connectivity, component, and device and technology, in terms of value.
- Regional Analysis: Industrial IoT market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis on growth opportunities in different end use industries, connectivity, component, device and technology, and regions for the industrial IoT market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the industrial IoT market.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers following 11 key questions:
- Q.1. What are some of the most promising potential, high-growth opportunities for the global industrial IoT market by end use industry (manufacturing, transportation, energy, retail, healthcare, and others), connectivity (wired and wireless), component (solution and service), device and technology (sensors, RFID, industrial robotics, distributed control system, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
- Q.2. Which segments will grow at a faster pace and why?
- Q.3. Which regions will grow at a faster pace and why?
- Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges of the industrial IoT market?
- Q.5. What are the business risks and threats to the industrial IoT market?
- Q.6. What are emerging trends in the industrial IoT market and the reasons behind them?
- Q.7. What are some changing demands of customers in the industrial IoT market?
- Q.8. What are the new developments in the industrial IoT market? Which companies are leading these developments?
- Q.9. Who are the major players in the industrial IoT market? What strategic initiatives are being implemented by key players for business growth?
- Q.10. What are some of the competitive products and processes in the industrial IoT market, and how big of a threat do they pose for loss of market share via material or product substitution?
- Q.11. What M&A activities did take place in the last five years in the industrial IoT market?