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    Industrial IoT Market

    Industrial IoT Market by Component (Hardware, Platform, Services, Connectivity), Industry (Agriculture, Manufacturing, Energy & Utilities, Oil & Gas, Aerospace, Retail, Transportation & Logistics, Others) Geography - Global Forecast to 2031

    Report ID:MRICT - 104404 Pages: 430 Jul-2024 Formats*: PDF Category: Information and Communications Technology Delivery: 24 to 48 Hours

    The Industrial IoT Market accounted for $105.4 billion in 2023. This market is expected to reach $408.2 billion by 2031, at a CAGR of 19.3% from 2024 to 2031.

    Industrial IoT Market Size & Forecast

    The growth of the industrial IoT market is primarily driven by favorable investment scenarios in Industry 4.0 technologies, government initiatives to promote industrial automation, and the growing need to improve productivity and efficiency. However, the lack of standardization and the high capital and OpEx requirements restrain the growth of the IIoT market.

    The increasing utilization of Industrial IoT for predictive maintenance and the founding of new data centers are expected to create market growth opportunities. However, the exposure of IoT devices to cyberattacks and the lack of trained specialists pose major challenges for market growth. Additionally, the rising popularity of IIoT digital twins, the emergence of edge computing, and the rising adoption of smart manufacturing-as-a-service are some of the major trends in this market.

    Industrial IoT Market Growth Drivers

    Rising Investments in Industry 4.0 Technologies

    Industry 4.0 technologies offer enhanced productivity, efficiency, knowledge sharing & collaborative working, flexibility, and agility, reducing production costs. These benefits have encouraged both public and private sector players to invest heavily in transforming their manufacturing facilities. Industry 4.0 has increased the adoption of digital technologies, such as automation, data analytics, and IIoT, transforming economies, production systems, and the delivery of goods and services. This transformation has important implications in terms of industrial development, skill requirements, and global value chains.

    In March 2022, the World Economic Forum announced adding 13 new sites to its Global Lighthouse Network, a community of 103 world-leading manufacturing facilities and value chains using Fourth Industrial Revolution technologies to increase operational performance and environmental sustainability. In this global network, 66% of lighthouse companies, including Janssen (Italy), Sanofi (France), BOE Technology Group (China), Schneider Electric (India), and Unilever (India), made sustainability improvements by reducing consumption, resource waste, and carbon emissions, and increased productivity by 82%.

    From 2021 to 2027, the European Commission (EU) announced plans to invest USD 10.8 billion (EUR 9.2 billion) to shape and support the digital transformation of Europe’s society and economy. In 2021, India’s manufacturing sector invested approximately USD 6.5 billion in its Industry 4.0 transformation. In September 2020, the U.S. allocated more than USD 1 billion to establishing 12 new research & development hubs for AI and quantum information science (QIS) throughout the country. Similarly, in February 2021, Singapore announced plans to provide USD 18.1 billion over the next three years to help local businesses innovate and build the capabilities needed to take them through the next transformation phase with the adoption of emerging technologies, including 5G, artificial intelligence (AI), and cybersecurity. Such investments are expected to drive the growth of the global IIoT market during the forecast period.

    Industrial IoT Market

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    Government Initiatives to Promote Industrial Automation

    Major economies across the globe are implementing Industry 4.0 technologies, including IoT, artificial intelligence, robotics, cloud, and analytics, to transition to smart manufacturing. Incorporating industrial IoT technology improves connectivity, output, and resource utilization, resulting in higher efficiency. Therefore, governments worldwide are encouraging the adoption of disruptive technologies to promote industrial automation. Initiatives such as tax benefits, R&D investments, and the organization of promotional ventures & platforms are some of the several steps taken by governments worldwide to promote industrial IoT technology.

    Considering the potential of IoT, governments are increasingly adopting the technology for various applications. For instance, the Government of India has undertaken numerous initiatives, such as Digital India, Make in India, and smart city projects, stimulating the adoption of emerging technologies, including the IoT. These initiatives have encouraged several organizations to develop innovative and advanced-technology-enabled IoT solutions for commercial and industrial applications, driving the growth of the IIoT market.

    Apart from policy charting, governments worldwide have also announced investments in Industry 4.0 technologies. In October 2021, the Thailand Board of Investment (BOI) approved incentives to encourage companies to speed up their Industry 4.0 transformation. Such government initiatives are expected to propel the growth of this market.

    Industrial IoT Market Growth Challenges

    Vulnerability Issues with IoT Devices

    In today’s modern connected world, data breaches have become one of the biggest areas of concern for both users and service providers. Security is an important consideration in the adoption of IoT technology. Despite the numerous benefits, industrial IoT architecture is highly susceptible to data theft and breaches. Also, distributing data across large networks with numerous devices and data centers operating far from company premises can create problems in network visibility and control. Similarly, several IoT devices have limited authentication and encryption capabilities, making them highly susceptible to tampering, eavesdropping, malicious congestion, and identity forging.

    Cybersecurity is essential to the implementation of IIoT since the consequences of poor security go well beyond financial and brand harm. Millions of linked gadgets are at risk with an ever-expanding attack surface. Also, many IIoT networks have direct access to enterprise resource planning systems, including sensitive information and even company trade secrets. Any large-scale cyberattack can lead to dire consequences.

    Industrial IoT Market Growth Trends

    Rising Popularity of IIoT Digital Twins

    Digital twins are extremely detailed digital models that use IoT-powered sensors to update the digital model based on real changes in the source object. Digital twin use cases coupled with powerful analytics and simulation capabilities are being adopted across value chains.

    Industrial automation is undergoing a digital revolution as Industry 4.0 & Digital Twin technologies introduce new and innovative ways to execute manufacturing processes. A digital twin allows industrial manufacturers to create digital models of real machines and then combine both digital and physical data to deliver a better understanding of the performance and potential value of those physical machines. Digital twins are frequently implemented as part of IIoT in manufacturing, especially because they enable more remote workforce flexibility and provide real-time status updates on field devices.

    Deploying a digital twin on an IIoT platform reduces maintenance costs. Once installed in the field, an IIoT-connected device paired with a digital twin can reduce lifetime maintenance costs by 20%. Manufacturers and other companies are gradually realizing the value of combining IoT and Digital Twin technologies. According to industry experts, 13% of organizations implementing IoT projects already use at least one Digital Twin; 62% are either establishing or planning to establish a Digital Twin alongside IoT processes. Thus, digital twins are gaining traction within the IIoT landscape as they allow companies to leverage process data, enabling accurate insights into operational inefficiencies.

    Industrial IoT Market Analysis: Key Findings

    The Hardware Segment to Dominate the Industrial IoT Market in 2024

    Based on component, the industrial IoT market is segmented into hardware, platforms, services, and connectivity. In 2024, the hardware segment is expected to account for the largest share of 32.2% of the industrial IoT market. The large market share of this segment is attributed to the continuous efforts of organizations in the industrial sector to enhance efficiency, reduce costs, and improve Overall Equipment Effectiveness (OEE) through improved access to real-time information. Moreover, the increasing focus of key players on product development and rising investments in the digital transformation of industries are expected to drive the demand for IIoT hardware.

    However, the platforms segment is expected to record the highest CAGR during the forecasted period. The rising adoption of industrial IoT platforms by different industry verticals to improve operational efficiency, along with the increasing need for superior monitoring technologies, is driving the growth of this segment. In addition, the rising focus of key players on product development and enhancement is expected to drive the growth of the platforms segment.

    The Manufacturing Segment to Dominate the Industrial IoT Market in 2024

    Based on industry vertical, the industrial IoT market is segmented into agriculture, manufacturing, retail, energy & utilities, oil & gas, aerospace, transportation & logistics, telecom, and other industry verticals. In 2024, the manufacturing segment is expected to account for the largest share of 24.5% of the industrial IoT market. Moreover, the manufacturing segment is expected to record the highest CAGR during the forecast period. The large market share of this segment is attributed to the application of automation and robotics in the production lines to enhance quality, reduce production time, and improve equipment reliability.

    Furthermore, the need for centralized monitoring and predictive maintenance of assets, the increasing number of smart factories, the advent of Industry 4.0, and the increasing adoption of autonomous robots for industrial automation contribute to this segment's significant market share.

    Geographic Analysis

    Based on geography, the industrial IoT market is segmented into five major geographies, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of 38.2% of the industrial IoT market. The large share of the region is attributed to factors such as the rising demand for automation across various sectors in the region, the increasing adoption of industrial robots, the advent of Industry 4.0, the growing adoption of cloud-based industrial solutions, and the presence of prominent market players in the region.

    Asia-Pacific's industrial sector contributes significantly to the economy and is undergoing a rapid transformation. The growing adoption of disruptive technologies such as AI, machine learning, and IoT drives cloud adoption across the region, accelerating the demand for cloud-based industrial IoT solutions. Furthermore, Asia-Pacific is at the center of various government initiatives and strategic growth plans of several leading vendors operating in the industrial IoT market. Moreover, Asia-Pacific is expected to record the highest CAGR of 19.8% during the forecast period.

    Industrial IoT Market: Key Companies

    The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last three to four years. Some of the key players operating in the industrial IoT market are ABB Ltd. (Switzerland), General Electric Company (U.S.), Emerson Electric Co. (U.S.), Intel Corporation (U.S.), Cisco Systems, Inc. (U.S.), SAP SE (Germany), IBM Corporation (U.S.), Honeywell International Inc. (U.S.), Amazon Web Services, Inc. (U.S.), Siemens AG (Germany), Huawei Technologies Co, Ltd. (China), Rockwell Automation, Inc. (U.S.), PTC, Inc. (U.S.), Dassault Systèmes (France), Robert Bosch GmbH (Germany), KUKA AG (Germany), Microsoft Corporation (U.S.), Schneider Electric SE (France), Advantech Co., Ltd. (Taiwan), and C3.ai, Inc. (U.S.)

    Industrial IoT Industry Overview: Latest Developments from Key Industry Players

    • In September 2023, Intel Corporation (U.S.) launched industrial IoT processors and software packages for various industries.
    • In June 2023, ABB Ltd. (Switzerland) and China Telecom, the world's largest and leading communication service operator, started a joint digitalization and industrial IoT laboratory in Hangzhou, China.
    • In March 2023, Samsung (South Korea) announced an investment to enable smart manufacturing capabilities at its largest mobile phone plant in Noida (India) to make production more competitive.
    • In June 2022, Moxa (Taiwan) launched the new AIG-300 Series of Industrial IoT gateways, optimized for seamless integration with the Microsoft Azure IoT Edge computing platform.
    • In January 2021, Microsoft Switzerland (Switzerland) partnered with Swiss Smart Factory (Switzerland) to accelerate digital transformation in the country's manufacturing industry.

    Industrial IoT Market Research Summary

    Particulars

    Details

    Number of Pages

    430

    Format

    PDF

    Forecast Period

    2024–2031

    Base Year

    2023

    CAGR

    19.3%

    Market Size (Value)

    $408.2 Billion by 2031

    Segments Covered

    By Component       

    • Hardware
      • Network Components
      • Sensors & Actuators
      • Other IIoT Hardware
    • Platforms
      • Services         
      • Professional Services
      • Managed Services
    • Connectivity 

    By Industry Vertical           

    • Agriculture
      • Precision Farming
      • Livestock Monitoring
      • Smart Greenhouse
      • Fish Farming
      • Smart Irrigation
    • Manufacturing
      • Surveillance & Safety
      • Quality Management
      • Resource Optimization
      • Inventory & Warehouse Management
      • Machine Inspection & Maintenance
      • Production Planning
      • Energy Management
      • Smart Robotics
    • Retail
      • Operations Management
      • Asset Management
      • Customer Experience Management
    • Energy & Utility
      • Predictive Maintenance
      • Remote Monitoring
      • Worker Safety & Security
      • Distribution Management
      • Asset Management
    • Oil & Gas
      • Predictive Maintenance
      • Remote Monitoring
      • Worker Safety & Security
      • Distribution Management
      • Asset Management
    • Aerospace/Airline
      • Performance Management
      • Energy Management
      • Predictive Maintenance
      • Passenger Experience Management
    • Transportation & Logistics
      • Smart Ticketing & Toll
      • Parking Management
      • Traffic Management
      • Passenger Information
      • Freight Information
      • Telematics
      • Other Applications
    • Telecom
      • Asset Management
      • Remote Monitoring
      • Other Applications
    • Other Industry Verticals

    Countries Covered

    North America (U.S. and Canada), Europe (Germany, U.K., France, Italy, Spain, Poland, Netherlands, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa (UAE, Israel, Rest of Middle East & Africa)

    Key Companies Profiled

    ABB Ltd. (Switzerland), General Electric Company (U.S.), Emerson Electric Co. (U.S.), Intel Corporation (U.S.), Cisco Systems, Inc. (U.S.), SAP SE (Germany), IBM Corporation (U.S.), Honeywell International Inc. (U.S.), Amazon Web Services, Inc. (U.S.), Siemens AG (Germany), Huawei Technologies Co, Ltd. (China), Rockwell Automation, Inc. (U.S.), PTC, Inc. (U.S.), Dassault Systèmes (France), Robert Bosch GmbH (Germany), KUKA AG (Germany), Microsoft Corporation (U.S.), Schneider Electric SE (France), Advantech Co., Ltd. (Taiwan), and C3.ai, Inc. (U.S.)

    Key questions answered in the industrial IoT market report:

    The industrial IoT market study focuses on market assessment and opportunity analysis based on the sales of industrial IoT across various regions, countries, and segments. This study also includes a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last 3–4 years.

    The industrial IoT market is projected to reach $408.2 billion by 2031, at a CAGR of 19.3% during the forecast period.

    Based on component, the hardware segment is expected to account for the largest share of the industrial IoT market in 2024.

    Based on industry vertical, the manufacturing segment is expected to account for the largest share of the industrial IoT market in 2024.

    Major factors driving this market's growth are rising investments in Industry 4.0 technologies, government initiatives to promote industrial automation, and the growing need to improve productivity and efficiency. The increasing use of Industrial IoT for predictive maintenance and the proliferation of data centers are expected to create market growth opportunities.

    The key players operating in the industrial IoT market are ABB Ltd. (Switzerland), General Electric Company (U.S.), Emerson Electric Co. (U.S.), Intel Corporation (U.S.), Cisco Systems, Inc. (U.S.), SAP SE (Germany), IBM Corporation (U.S.), Honeywell International Inc. (U.S.), Amazon Web Services, Inc. (U.S.), Siemens AG (Germany), Huawei Technologies Co, Ltd. (China), Rockwell Automation, Inc. (U.S.), PTC, Inc. (U.S.), Dassault Systèmes (France), Robert Bosch GmbH (Germany), KUKA AG (Germany), Microsoft Corporation (U.S.), Schneider Electric SE (France), Advantech Co., Ltd. (Taiwan), and C3.ai, Inc. (U.S.)

    Asia-Pacific is projected to register the highest growth rate during the forecast period.

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    Related Tag: Industrial IoT Market IoT IIoT Automation Industry 4.0 Smart Manufacturing
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    1.    Introduction
           1.1.    Market Definition & Scope
           1.2.    Currency & Limitations
                     1.2.1.    Currency
                     1.2.2.    Limitations
    2.    Research Methodology
           2.1.    Research Approach
           2.2.    Process of Data Collection and Validation
                     2.2.1.    Secondary Research
                     2.2.2.    Primary Research / Interviews with Key Opinion Leaders of the Industry
           2.3.    Market Sizing and Forecast
                     2.3.1.    Market Size Estimation Approach    
                     2.3.2.    Growth Forecast     Approach
           2.4    Assumption for the Study
    3.    Executive Summary
    4.    Market Insights                            
           4.1.    Overview                     
           4.2.    Factors Affecting Market Growth                    
                     4.2.1.    Drivers                
                                  4.2.1.1.    Rising Investments in Industry 4.0 Technologies    
                                  4.2.1.2.    Government Initiatives to Promote Industrial Automation        
                                  4.2.1.3.    Growing Need to Improve Productivity and Efficiency    
                     4.2.2.    Restraints                
                                  4.2.2.1.    Lack of Standardization
                                  4.2.2.2.    High Capital & OpEx Requirements
                     4.2.3.    Opportunities
                                  4.2.3.1.    Use of Industrial IoT for Predictive Maintenance    
                                  4.2.3.2.    Proliferation of Data Centers
                     4.2.4.    Challenges
                                  4.2.4.1.    Vulnerability Issues with IoT Devices
                                  4.2.4.2    Lack of Skilled Professionals
           4.3.    Trends
                     4.3.1.    Technology Trends
                                  4.3.1.1.    Rising Popularity of IIoT Digital Twins
                                  4.3.1.2.    Emergence of Edge Computing 
                     4.3.2.    Industry Trends
                                  4.3.2..1.    Rising Adoption of Smart Manufacturing-as-a-Service    
           4.4.    Case Studies    
                     4.4.1.    Manufacturing  
                                  4.4.1.1.     Case Study I: Real-Time IoT Tracking and Visualization    
                                  4.4.1.2.    Case Study II: Smart Manufacturing Operations Using IoT Technology    
                                  4.4.1.3.    Case Study III: IoT-Based Predictive Maintenance System    
                                  4.4.1.4.    Case Study IV: Using IoT Technology to Improve Production Line Efficiency    
                     4.4.2.    Transportation & Logistics    
                                  4.4.2.1.    Case Study I: IoT Fleet Tracking for Healthcare Industry    
                                  4.4.2.2.    Case Study II: Improving Customer Experience in Public Transportation    
                                  4.4.2.3.    Case Study III: IoT Helped Flex-GPS to Expand Its Footprint in South America    
                     4.4.3.    Energy & Utilities    
                                  4.4.3.1.    Case Study I: Kurita Water Enables Real-Time Monitoring of Water Conditions    
                                  4.4.3.2.    Case Study II: Engine Monitoring to Improve Efficiency    
                                  4.4.3.3.    Case Study III: Premier Energy Storage Company Requires a Predictive System to Ensure the Complete Dumping of Silos
                                  4.4.3.4.    Case Study IV: Integration of IIoT Next in Thermal Power Plants for Fly Ash Utilization    
                     4.4.4.    Retail    
                                  4.4.4.1.    Case Study I: Retail Store Automation    
                                  4.4.4.2.    Case Study II: Uses of RFID to Enable Cold Chain Monitoring    
                                  4.4.4.3.    Case Study III: Boosts Operational Efficiency Throughout the Supply Chain    
                                  4.4.4.4.    Case Study IV: Grocery Robots to Elevate Operations and Shopping Experiences    
                     4.4.5.    Aerospace    
                                  4.4.5.1.    Case Study I: Automation of Airbus Factory Using Industrial IoT Solutions    
                                  4.4.5.2.    Case Study II: Use of AI and IoT for Aircraft Predictive Maintenance by Lockheed Martin    
                                  4.4.5.3.    Case Study III: Bae Systems Incorporated the Boeing IoT Platform for Manufacturing Automation    
                     4.4.6.    Agriculture    
                                  4.4.6.1.    Case Study I: To Equip Local Farmers in Thailand with Technology    
                                  4.4.6.2.    Case Study II: To Help Farmers in New Zealand Through IoT Solutions    
                                  4.4.6.3.    Case Study III: BAE Systems Incorporated the Boeing IoT Platform for Manufacturing Automation    
                     4.4.7.    Oil & Gas    
                                  4.4.7.1.    Case Study I: IoT Solution for Gas Leak Monitoring    
                                  4.4.7.2.    Case Study II: IoT Security Platform to Reduce Risk    
                                  4.4.7.3.    Case Study III: Remote Monitoring of Gas Wells    
                     4.4.4.    Telecommunication    
                                  4.4.4.1.     Case Study I: Implementation of Comarch M2M Platform    
                                  4.4.4.2.   Case Study II: Deutsche Telekom Selects the Axonize IoT Orchestration Platform    
                     4.4.9.    Other Industries    
                                  4.4.9.1.    Case Study I: Smart Factory Transformation    
    5.    Industrial IoT Market Assessment—by Component                        
           5.1.    Overview             
           5.2.    Hardware    
                     5.2.1.    Sensors & Actuators    
                     5.2.2.    Network Components    
                     5.2.3.    Other IIoT Hardware    
           5.3.    Services    
                     5.3.1.      Professional Services    
                     5.3.2.      Managed Services    
           5.4 .   Connectivity    
           5.5.    Platforms                                            
    6.    Industrial IoT Market Assessment—by Industry Vertical    
           6.1.    Introduction    
           6.2.    Manufacturing    
                     6.2.1.         Surveillance & Safety    
                     6.2.2.         Smart Robotics    
                     6.2.3.         Quality Management    
                     6.2.4.         Resource Optimization    
                     6.2.5.          Inventory & Warehouse Management    
                     6.2.6.         Machine Inspection & Maintenance    
                     6.2.7.         Production Planning    
                     6.2.8.          Energy Management    
           6.3.    Transportation & Logistics    
                     6.3.1.         Traffic Management    
                     6.3.2.          Parking Management    
                     6.3.3.          Smart Ticketing & Toll    
                     6.3.4.         Freight Information    
                     6.3.5.         Telematics    
                     6.3.6.         Passenger Information    
                     6.3.7.         Other Applications    
           6.4.    Energy & Utilities    
                     6.4.1.       Predictive Maintenance    
                     6.4.2.        Remote Monitoring    
                     6.4.3.       Worker Safety & Security    
                     6.4.4.       Distribution Management    
                     6.4.5.       Asset Management    
           6.5.    Retail    
                     6.5.1.       Customer Experience Management    
                     6.5.2.       Operations Management    
                     6.5.3.       Asset Management    
           6.6.    Aerospace    
                     6.6.1.        Energy Management    
                     6.6.2.         Performance Management    
                     6.6.3.         Predictive Maintenance    
                     6.6.4.         Passenger Experience Management    
           6.7.    Agriculture    
                     6.7.1.        Smart Irrigation    
                     6.7.2.        Precision Farming    
                     6.7.3       Livestock Monitoring    
                     6.7.4        Fish Farming    
                     6.7.5       Smart Greenhouse    
           6.8.    Oil & Gas    
                     6.8.1        Remote Monitoring    
                     6.8.2        Worker Safety & Security    
                     6.8.3        Distribution Management    
                     6.8.4.        Predictive Maintenance    
                     6.8.5        Asset Management    
           6.9.    Telecommunications    
                     6.9.1.        Remote Monitoring    
                     6.9.2.        Asset Management    
                     6.9.3.        Other Applications    
           6.10.  Other Industry Verticals                                
    7.    Industrial IoT Market Assessment—by Geography                    
           7.1.     Overview                     
           7.2.      Asia-Pacific    
                     7.2.1.    China    
                     7.2.2.    Japan    
                     7.2.3.    South Korea    
                     7.2.4.    India    
                     7.2.5.    Australia & New Zealand    
                     7.2.6.    Rest of Asia-Pacific 
           7.3.    North America    
                     7.3.1.    U.S.    
                     7.3.2.    Canada    
           7.4.    Europe    
                     7.4.1.    Germany    
                     7.4.2.    U.K.    
                     7.4.3.    France    
                     7.4.4.    Italy    
                     7.4.5.    Spain    
                     7.4.6.    Poland    
                     7.4.7.    Netherlands    
                     7.4.8.    Rest of Europe 
           7.5.    Latin America    
                     7.5.1.    Brazil    
                     7.5.2.    Mexico    
                     7.5.3.    Rest of Latin America 
           7.6.    Middle East & Africa    
                     7.6.1.    UAE    
                     7.6.2.    Israel    
                     7.6.3.    Rest of the Middle East & Africa                    
    8.    Industrial IoT Market — Competitive Landscape                    
           8.1.    Overview 
           8.2.    Key Growth Strategies
           8.3.    Competitive Dashboard
                     8.3..1    Industry Leaders    
                                  8.3.1.1.    Market Ranking by the Key Players
                     8.3.2.    Market Differentiators
                     8.3.3.    Vanguards
                     8.3.4.    Emerging Companies
           8.4.    Vendor Market Positioning
           8.5.    Market Share Analysis    
    9.    Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)                            
           9.1.       Asea Brown Boveri (ABB) Ltd.    
           9.2.       Advantech Co., Ltd.    
           9.3.       Amazon Web Services, Inc. (A Subsidiary of Amazon.Com, Inc.)    
           9.4.      C3.Ai, Inc.    
           9.5.      Cisco Systems, Inc.    
           9.6.       Dassault Systemes    
           9.7.      Emerson Electric Co.    
           9.8.      General Electric Company    
           9.9.      Honeywell International Inc.    
           9.10.     Huawei Technologies Co., Ltd. (A Subsidiary of Huawei Investment & Holding Co., Ltd.)    
           9.11.     IBM Corporation    
           9.12.     Intel Corporation    
           9.13.      Kuka AG    
           9.14.      Microsoft Corporation    
           9.15.     PTC Inc.    
           9.16.      Robert Bosch GmbH    
           9.17.      Rockwell Automation, Inc.    
           9.18.      SAP SE    
           9.19.     Schneider Electric SE    
           9.20.      Siemens AG                
                        (Note: SWOT Analysis of the Top 5 Companies will be Provided)                          
    10.    Appendix                        
             10..1    Available Customization                    
             10.2.    Related Reports                                      


    List of Tables
    Table 1      Currency Conversion Rate (2018–2024)    
    Table 2      Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 3      Industrial IoT Hardware Market, by Country/Region, 2022–2031 (USD Million)           
    Table 4     Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)            
    Table 5     Industrial IoT Hardware Market for Sensors and Actuators, by Country/Region, 2022–2031 (USD Million)            
    Table 6     Industrial IoT Hardware Market for Network Components, by Country/Region, 2022–2031 (USD Million)            
    Table 7     Industrial IoT Hardware Market for Other IIoT Hardware, by Country/Region, 2022–2031 (USD Million)            
    Table 8     Industrial IoT Services Market, by Country/Region, 2022–2031 (USD Million)            
    Table 9     Industrial IoT Services Market, by Type, 2022–2031 (USD Million)            
    Table 10    Industrial IoT Professional Services Market, by Country/Region, 2022–2031 (USD Million)            
    Table 11    Industrial IoT Managed Services Market, by Country/Region, 2022–2031 (USD Million)   
    Table 12    Industrial IoT Connectivity Market, by Country/Region, 2022–2031 (USD Million)                
    Table 13    Industrial IoT Platforms Market, by Country/Region, 2022–2031 (USD Million)            
    Table 14    Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)            
    Table 15    Industrial IoT Market for Manufacturing, by Country/Region, 2022–2031 (USD Million)    
    Table 16    Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)    
    Table 17    Industrial IoT Market for Surveillance & Safety in Manufacturing, by Country/Region, 2022–2031 (USD Million)                
    Table 18    Industrial IoT Market for Smart Robotics in Manufacturing, by Country/Region, 2022–2031 (USD Million)                
    Table 19    Industrial IoT Market for Quality Management in Manufacturing, by Country/Region, 2022–2031 (USD Million)                
    Table 20    Industrial IoT Market for Resource Optimization in Manufacturing, by Country/Region, 2022–2031 (USD Million)        
    Table 21    Industrial IoT Market for Inventory & Warehouse Management in Manufacturing, by Country/Region, 2022–2031 (USD Million)            
    Table 22    Industrial IoT Market for Machine Inspection & Maintenance in Manufacturing, by Country/Region, 2022–2031 (USD Million)        
    Table 23    Industrial IoT Market for Production Planning in Manufacturing, by Country/Region, 2022–2031 (USD Million)        
    Table 24    Industrial IoT Market for Energy Management in Manufacturing, by Country/Region, 2022–2031 (USD Million)        
    Table 25    Industrial IoT Market for Transportation & Logistics, by Country/Region, 2022–2031 (USD Million)        
    Table 26    Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 27    Industrial IoT Market for Traffic Management in Transportation & Logistics, by Country/Region, 2022–2031 (USD Million)        
    Table 28    Industrial IoT Market for Parking Management in Transportation & Logistics, by Country/Region, 2022–2031 (USD Million)        
    Table 29    Industrial IoT Market for Smart Ticketing & Toll in Transportation & Logistics, by Country/Region, 2022–2031 (USD Million)        
    Table 30    Industrial IoT Market for Freight Information in Transportation & Logistics, by Country/Region, 2022–2031 (USD Million)        
    Table 31    Industrial IoT Market for Telematics in Transportation & Logistics, by Country/Region, 2022–2031 (USD Million)            
    Table 32    Industrial IoT Market for Passenger Information in Transportation & Logistics, by Country/Region, 2022–2031 (USD Million)        
    Table 33    Industrial IoT Market for Other Applications in Transportation & Logistics, by Country/Region, 2022–2031 (USD Million)        
    Table 34    Industrial IoT Market for Energy & Utilities, by Country/Region, 2022–2031 (USD Million)        
    Table 35    Industrial IoT Market for Energy & Utilities, by Application, 2022–2031 (USD Million)    
    Table 36    Industrial IoT Market for Predictive Maintenance in Energy & Utilities, by Country/Region, 2022–2031 (USD Million)        
    Table 37    Industrial IoT Market for Remote Monitoring in Energy & Utilities, by Country/Region, 2022–2031 (USD Million)        
    Table 38    Industrial IoT Market for Worker Safety & Security in Energy & Utilities, by Country/Region, 2022–2031 (USD Million)        
    Table 39    Industrial IoT Market for Distribution Management in Energy & Utilities, by Country/Region, 2022–2031 (USD Million)        
    Table 40    Industrial IoT Market for Asset Management in Energy & Utilities, by Country/Region, 2022–2031 (USD Million)         
    Table 41    Industrial IoT Market for Retail, by Country/Region, 2022–2031 (USD Million)            
    Table 42    Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 43    Industrial IoT Market for Customer Experience Management in Retail, by Country/Region, 2022–2031 (USD Million)        
    Table 44    Industrial IoT Market for Asset Management in Retail, by Country/Region, 2022–2031 (USD Million)        
    Table 45    Industrial IoT Market for Aerospace, by Country/Region, 2022–2031 (USD Million)    
    Table 46    Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)            
    Table 47    Industrial IoT Market for Energy Management in Aerospace, by Country/Region, 2022–2031 (USD Million)        
    Table 48    Industrial IoT Market for Performance Management in Aerospace, by Country/Region, 2022–2031 (USD Million)        
    Table 49    Industrial IoT Market for Predictive Maintenance in Aerospace, by Country/Region, 2022–2031 (USD Million)        
    Table 50    Industrial IoT Market for Passenger Experience Management in Aerospace, by Country/Region, 2022–2031 (USD Million)        
    Table 51    Industrial IoT Market for Agriculture, by Country/Region, 2022–2031 (USD Million)    
    Table 52    Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)                
    Table 53    Industrial IoT Market for Smart Irrigation in Agriculture, by Country/Region, 2022–2031 (USD Million)        
    Table 54    Industrial IoT Market for Precision Farming in Agriculture, by Country/Region, 2022–2031 (USD Million)        
    Table 55    Industrial IoT Market for Livestock Monitoring in Agriculture, by Country/Region, 2022–2031 (USD Million)        
    Table 56    Industrial IoT Market for Fish Farming in Agriculture, by Country/Region, 2022–2031 (USD Million)        
    Table 57    Industrial IoT Market for Smart Greenhouse in Agriculture, by Country/Region, 2022–2031 (USD Million)        
    Table 58    Industrial IoT Market for Oil & Gas, by Country/Region, 2022–2031 (USD Million)        
    Table 59    Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)                
    Table 60    Industrial IoT Market for Remote Monitoring in Oil & Gas, by Country/Region, 2022–2031 (USD Million)        
    Table 61    Industrial IoT Market for Worker Safety & Security in Oil & Gas, by Country/Region, 2022–2031 (USD Million)            
    Table 62    Industrial IoT Market for Distribution Management in Oil & Gas, by Country/Region, 2022–2031 (USD Million)        
    Table 63    Industrial IoT Market for Predictive Maintenance in Oil & Gas, by Country/Region, 2022–2031 (USD Million)        
    Table 64    Industrial IoT Market for Asset Management in Oil & Gas, by Country/Region, 2022–2031 (USD Million)        
    Table 65    Industrial IoT Market for Telecommunications, by Country/Region, 2022–2031 (USD Million)        
    Table 66    Industrial IoT Market for Telecommunications, by Application, 2022–2031 (USD Million)        
    Table 67    Industrial IoT Market for Remote Monitoring in Telecommunications, by Country/Region, 2022–2031 (USD Million)        
    Table 68    Industrial IoT Market for Asset Management in Telecommunications, by Country/Region, 2022–2031 (USD Million)        
    Table 69    Industrial IoT Market for Other Applications in Telecommunications, by Country/Region, 2022–2031 (USD Million)        
    Table 70    Industrial IoT Market for Other Industry Verticals, by Country/Region, 2022–2031 (USD Million)            
    Table 71    Asia-Pacific: Industrial IoT Market, by Country/Region, 2022–2031 (USD Million)            
    Table 72    Asia-Pacific: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 73    Asia-Pacific: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 74    Asia-Pacific: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 75    Asia-Pacific: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                
    Table 76    Asia-Pacific: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)            
    Table 77    Asia-Pacific: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)           
    Table 78    Asia-Pacific: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)    
    Table 79    Asia-Pacific: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)            
    Table 80    Asia-Pacific: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)            
    Table 81    Asia-Pacific: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)            
    Table 82    Asia-Pacific: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 83    Asia-Pacific: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)        
    Table 84    China: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 85    China: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 86    China: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 87    China: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                
    Table 88    China: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)    
    Table 89    China: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                
    Table 90    China: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 91    China: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 92    China: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)    
    Table 93    China: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)    
    Table 94    China: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 95    China: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)    
    Table 96    Japan: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 97    Japan: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 98    Japan: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 99    Japan: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                    
    Table 100    Japan: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)    
    Table 101    Japan: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                    
    Table 102    Japan: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 103    Japan: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 104    Japan: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)    
    Table 105    Japan: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)    
    Table 106    Japan: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 107    Japan: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)    
    Table 108    South Korea: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 109    South Korea: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 110    South Korea: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 111    South Korea: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                
    Table 112    South Korea: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)            
    Table 113    South Korea: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                
    Table 114    South Korea: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)    
    Table 115    South Korea: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)            
    Table 116    South Korea: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)            
    Table 117    South Korea: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)            
    Table 118    South Korea: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 119    South Korea: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)        
    Table 120    India: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 121    India: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 122    India: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 123    India: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                    
    Table 124    India: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)    
    Table 125    India: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                
    Table 126    India: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 127    India: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 128    India: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)    
    Table 129    India: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)    
    Table 130    India: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 131    India: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)    
    Table 132    Australia & New Zealand: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 133    Australia & New Zealand: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)            
    Table 134    Australia & New Zealand: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)            
    Table 135    Australia & New Zealand: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                
    Table 136    Australia & New Zealand: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)        
    Table 137    Australia & New Zealand: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                    
    Table 138    Australia & New Zealand: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 139    Australia & New Zealand: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 140    Australia & New Zealand: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)            
    Table 141    Australia & New Zealand: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)        
    Table 142    Australia & New Zealand: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 143    Australia & New Zealand: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)        
    Table 144    Rest of Asia-Pacific: Industrial IoT Market, by Component, 2022–2031 (USD Million)    
    Table 145    Rest of Asia-Pacific: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 146    Rest of Asia-Pacific: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)    
    Table 147    Rest of Asia-Pacific: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                
    Table 148    Rest of Asia-Pacific: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)        
    Table 149    Rest of Asia-Pacific: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                    
    Table 150    Rest of Asia-Pacific: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)         
    Table 151    Rest of Asia-Pacific: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 152    Rest of Asia-Pacific: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)            
    Table 153    Rest of Asia-Pacific: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)        
    Table 154    Rest of Asia-Pacific: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 155    Rest of Asia-Pacific: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)            
    Table 156    North America: Industrial IoT Market, by Country, 2022–2031 (USD Million)        
    Table 157    North America: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 158    North America: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)    
    Table 159    North America: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 160    North America: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)
    Table 161    North America: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)            
    Table 162    North America: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                    
    Table 163    North America: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 164    North America: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 165    North America: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)            
    Table 166    North America: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)            
    Table 167    North America: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 168    North America: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)            
    Table 169    U.S.: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 170    U.S.: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 171    U.S.: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 172    U.S.: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                    
    Table 173    U.S.: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)    
    Table 174    U.S.: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)   
    Table 175    U.S.: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 176    U.S.: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)    
    Table 177    U.S.: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)        
    Table 178    U.S.: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)    
    Table 179    U.S.: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 180    U.S.: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)        
    Table 181    Canada: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 182    Canada: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 183    Canada: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 184    Canada: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                
    Table 185    Canada: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)        
    Table 186    Canada: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                
    Table 187    Canada: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)    
    Table 188    Canada: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)            
    Table 189    Canada: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)    
    Table 190    Canada: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)        
    Table 191    Canada: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 192    Canada: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)    
    Table 193    Europe: Industrial IoT Market, by Country/Region, 2022–2031 (USD Million)        
    Table 194    Europe: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 195    Europe: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 196    Europe: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 197    Europe: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                
    Table 198    Europe: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)    
    Table 199    Europe: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                
    Table 200    Europe: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 201    Europe: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 202    Europe: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)    
    Table 203    Europe: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)    
    Table 204    Europe: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 205    Europe: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)    
    Table 206    Germany: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 207    Germany: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 208    Germany: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 209    Germany: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                
    Table 210    Germany: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)        
    Table 211    Germany: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                
    Table 212    Germany: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 213    Germany: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)            
    Table 214    Germany: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)
    Table 215    Germany: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)        
    Table 216    Germany: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 217    Germany: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)    
    Table 218    U.K.: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 219    U.K.: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 220    U.K.: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 221    U.K.: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                    
    Table 222    U.K.: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)    
    Table 223    U.K.: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)          
    Table 224    U.K.: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 225    U.K.: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 226    U.K.: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)        
    Table 227    U.K.: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)    
    Table 228    U.K.: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 229    U.K.: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)        
    Table 230    France: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 231    France: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 232    France: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 233    France: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                
    Table 234    France: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)    
    Table 235    France: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                
    Table 236    France: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 237    France: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 238    France: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)            
    Table 239    France: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)    
    Table 240    France: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 241    France: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)    
    Table 242    Italy: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 243    Italy: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 244    Italy: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 245    Italy: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                    
    Table 246    Italy: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)    
    Table 247    Italy: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)           
    Table 248    Italy: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 249    Italy: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)    
    Table 250    Italy: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)        
    Table 251    Italy: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)        
    Table 252    Italy: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 253    Italy: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)        
    Table 254    Spain: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 255    Spain: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 256    Spain: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 257    Spain: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                
    Table 258    Spain: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million    
    Table 259    Spain: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                
    Table 260    Spain: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 261    Spain: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 262    Spain: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)     
    Table 263    Spain: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)    
    Table 264    Spain: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 265    Spain: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)    
    Table 266    Poland: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 267    Poland: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 268    Poland: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 269    Poland: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                
    Table 270    Poland: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)   
    Table 271    Poland: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                
    Table 272    Poland: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 273    Poland: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 274    Poland: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)   
    Table 275    Poland: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)    
    Table 276    Poland: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 277    Poland: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)    
    Table 278    Netherlands: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 279    Netherlands: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 280    Netherlands: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 281    Netherlands: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                
    Table 282    Netherlands: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)            
    Table 283    Netherlands: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                
    Table 284    Netherlands: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)    
    Table 285    Netherlands: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)            
    Table 286    Netherlands: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)            
    Table 287    Netherlands: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)            
    Table 288    Netherlands: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 289    Netherlands: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)        
    Table 290    Rest of Europe: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 291    Rest of Europe: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)    
    Table 292    Rest of Europe: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 293    Rest of Europe: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)         
    Table 294    Rest of Europe: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)            
    Table 295    Rest of Europe: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                    
    Table 296    Rest of Europe: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 297    Rest of Europe: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 298    Rest of Europe: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)            
    Table 299    Rest of Europe: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)            
    Table 300    Rest of Europe: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 301    Rest of Europe: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)            
    Table 302    Latin America: Industrial IoT Market, by Country/Region, 2022–2031 (USD Million)    
    Table 303    Latin America: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 304    Latin America: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)    
    Table 305    Latin America: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 306    Latin America: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)           
    Table 307    Latin America: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)            
    Table 308    Latin America: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                    
    Table 309    Latin America: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 310    Latin America: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)            
    Table 311    Latin America: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)            
    Table 312    Latin America: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)            
    Table 313    Latin America: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 314    Latin America: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)            
    Table 315    Mexico: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 316    Mexico: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 317    Mexico: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 318    Mexico: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                
    Table 319    Mexico: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)    
    Table 320    Mexico: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                
    Table 321    Mexico: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 322    Mexico: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 323    Mexico: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)   
    Table 324    Mexico: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)    
    Table 325    Mexico: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 326    Mexico: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)    
    Table 327    Brazil: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 328    Brazil: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 329    Brazil: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 330    Brazil: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                
    Table 331    Brazil: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)     
    Table 332    Brazil: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                
    Table 333    Brazil: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 334    Brazil: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 335    Brazil: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)    
    Table 336    Brazil: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)    
    Table 337    Brazil: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 338    Brazil: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)    
    Table 339    Rest of Latin America: Industrial IoT Market, by Component, 2022–2031 (USD Million)    
    Table 340    Rest of Latin America: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 341    Rest of Latin America: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 342    Rest of Latin America: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                
    Table 343    Rest of Latin America: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)        
    Table 344    Rest of Latin America: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                    
    Table 345    Rest of Latin America: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)            
    Table 346    Rest of Latin America: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 347    Rest of Latin America: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)            
    Table 348    Rest of Latin America: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)        
    Table 349    Rest of Latin America: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 350    Rest of Latin America: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)        
    Table 351    Middle East & Africa: Industrial IoT Market, by Country/Region, 2022–2031 (USD Million)        
    Table 352    Middle East & Africa: Industrial IoT Market, by Component, 2022–2031 (USD Million)    
    Table 353    Middle East & Africa: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 354    Middle East & Africa: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)    
    Table 355    Middle East & Africa: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                
    Table 356    Middle East & Africa: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)        
    Table 357    Middle East & Africa: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                    
    Table 358    Middle East & Africa: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)            
    Table 359    Middle East & Africa: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 360    Middle East & Africa: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)            
    Table 361    Middle East & Africa: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)        
    Table 362    Middle East & Africa: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 363    Middle East & Africa: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)            
    Table 364    UAE: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 365    UAE: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 366    UAE: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 367    UAE: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                    
    Table 368    UAE: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)    
    Table 369    UAE: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)         
    Table 370    UAE: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 371    UAE: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)    
    Table 372    UAE: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)        
    Table 373    UAE: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)    
    Table 374    UAE: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 375    UAE: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)        
    Table 376    Israel: Industrial IoT Market, by Component, 2022–2031 (USD Million)        
    Table 377    Israel: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 378    Israel: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)        
    Table 379    Israel: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)                    
    Table 380    Israel: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)        
    Table 381    Israel: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                
    Table 382    Israel: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 383    Israel: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 384    Israel: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)            
    Table 385    Israel: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)        
    Table 386    Israel: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 387    Israel: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million)        
    Table 388    Rest of Middle East & Africa: Industrial IoT Market, by Component, 2022–2031 (USD Million)            
    Table 389    Rest of Middle East & Africa: Industrial IoT Hardware Market, by Type, 2022–2031 (USD Million)        
    Table 390    Rest of Middle East & Africa: Industrial IoT Services Market, by Type, 2022–2031 (USD Million)            
    Table 391    Rest of Middle East & Africa: Industrial IoT Market, by Industry Vertical, 2022–2031 (USD Million)               
    Table 392    Rest of Middle East & Africa: Industrial IoT Market for Agriculture, by Application, 2022–2031 (USD Million)        
    Table 393    Rest of Middle East & Africa: Industrial IoT Market for Manufacturing, by Application, 2022–2031 (USD Million)                    
    Table 394    Rest of Middle East & Africa: Industrial IoT Market for Retail, by Application, 2022–2031 (USD Million)        
    Table 395    Rest of Middle East & Africa: Industrial IoT Market for Energy & Utility, by Application, 2022–2031 (USD Million)        
    Table 396    Rest of Middle East & Africa: Industrial IoT Market for Oil & Gas, by Application, 2022–2031 (USD Million)            
    Table 397    Rest of Middle East & Africa: Industrial IoT Market for Aerospace, by Application, 2022–2031 (USD Million)        
    Table 398    Rest of Middle East & Africa: Industrial IoT Market for Transportation & Logistics, by Application, 2022–2031 (USD Million)        
    Table 399    Rest of Middle East & Africa: Industrial IoT Market for Telecom, by Application, 2022–2031 (USD Million) 
    Table 400    Recent Developments by Major Market Players (2021–2024)
     
    List of Figures
    Figure 1     Research Process        
    Figure 2     Primary Research Techniques        
    Figure 3    Key Executives Interviewed    
    Figure 4    Breakdown of Primary Interviews (Supply Side & Demand Side)    
    Figure 5    Market Sizing and Growth Forecast Approach    
    Figure 6    Key Insights    
    Figure 7    Industrial IoT Market, by Component, 2024 Vs. 2031 (USD Million)        
    Figure 8    Industrial IoT Market, by Industry Vertical, 2024 Vs. 2031 (USD Million)        
    Figure 9    Impact Analysis of Market Drivers, Restraints, Opportunities, and Challenges
    Figure 10    Industrial IoT Market, by Component, 2024 Vs. 2031 (USD Million)            
    Figure 11    Industrial IoT Market, by Industry Vertical, 2024 Vs. 2031 (USD Million)        
    Figure 12    Industrial IoT Market, by Country/Region, 2024 Vs. 2031 (USD Million)            
    Figure 13    Geographic Snapshot: North America Industrial IoT Market     
    Figure 14    Geographic Snapshot: Europe Industrial IoT Market     
    Figure 15    Geographic Snapshot: Asia-Pacific Industrial IoT Market     
    Figure 16    Geographic Snapshot: Latin America Industrial IoT Market     
    Figure 17    Geographic Snapshot: Middle East & Africa Industrial IoT Market     
    Figure 18    Growth Strategies Adopted by Leading Market Players (2021–2024)        
    Figure 19    Competitive Dashboard: Industrial IoT Market        
    Figure 20    Vendor Market Positioning Analysis (2021–2024)        
    Figure 21    Industrial IoT Market Share, by Key Player        
    Figure 22    Asea Brown Boveri (ABB) Ltd.: Financial Overview     
    Figure 23    Advantech Co., Ltd.: Financial Overview     
    Figure 24    Amazon.Com, Inc: Financial Overview      
    Figure 25    C3.Ai, Inc.: Financial Overview         
    Figure 26    Cisco Systems, Inc.: Financial Overview       
    Figure 27    Dassault Systemes: Financial Overview        
    Figure 28     Emerson Electric Co.: Financial Overview     
    Figure 29    General Electric Company: Financial Overview         
    Figure 30    Honeywell International Inc.: Financial Overview         
    Figure 31    Huawei Investment & Holding Co., Ltd.: Financial Overview         
    Figure 32    IBM Corporation: Financial Overview         
    Figure 33    Intel Corporation: Financial Overview     
    Figure 34    Kuka AG: Financial Overview         
    Figure 35    Microsoft Corporation: Financial Overview         
    Figure 36    PTC Inc.: Financial Overview         
    Figure 37    Robert Bosch GmbH: Financial Overview         
    Figure 38    Rockwell Automation, Inc.: Financial Overview         
    Figure 39    SAP SE: Financial Overview     
    Figure 40    Schneider Electric SE: Financial Overview     
    Figure 41    Siemens AG: Financial Overview    

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    Aniket Hade, Rajdeep Bhawal

    Related Tag: Industrial IoT Market IoT IIoT Automation Industry 4.0 Smart Manufacturing
    Next Generation Technologies
    Information and Communications Technology
     
     
     

    The Industrial IoT Market is expected to reach $408.2 billion by 2031, at a CAGR of 19.3% during the forecast period of 2024–2031. The industrial IoT (IIoT) has been rapidly adopted across several industry verticals, including manufacturing, logistics, oil & gas, transportation, energy/utilities, mining and metals, aviation, and other industrial sectors. The technology provides ample opportunities to incorporate automation, optimization, intelligent manufacturing and smart industry, asset performance management, maintenance, and industrial control applications across organizations. It is also driving organizations towards implementing on-demand service models, focusing on innovative ways of servicing customers, and creating new revenue models to achieve the mature goal of industrial digital transformation. The IIoT market is primarily driven by the increasing usage of cloud computing platforms, consistent technological advancements in semiconductor and electronic devices, and widespread support from various governments for carrying out R&D activities related to IIoT. Moreover, the increasing adoption of industrial IoT for predictive maintenance and the rising number of data centers are expected to provide significant growth opportunities for industrial IoT providers over the forecast period.

    Here are the top 10 companies operating in the Industrial IoT Market

    IBM Corporation

    IBM functions through five key segments—cognitive solutions, technology services & cloud platforms, global business services, systems, and global financing. The company manufactures and sells hardware & software and delivers numerous hosting and consulting services from mainframe processors to nanotechnology domains. The company has a diverse and vast products and services portfolio covering artificial intelligence, IoT, cloud computing, security, and more.
    IBM is the world’s enterprise AI leader and largest cybersecurity enterprise. It provides services to enterprises of all sizes and leaders in diverse industries including financial services, manufacturing, and retail. Some of the subsidiaries of IBM are Red Hat Software, Aspera, Trusteer, FileNet, and Kenexa. The company helps its clients transform their businesses and engage clients and employees in new ways.

    Microsoft Corporation

    Microsoft Corporation is a multinational technology company founded by Paul Allen & Bill Gates and ranked no. 30 in the 2018 Fortune 500 companies list. It is best known for software products such as Internet Explorer, Microsoft Windows OS, Microsoft Office Suite, and Edge Web browsers. Its leading hardware products are the Microsoft Surface lineup of individual touchscreen computers and Xbox videogame consoles. It is specialized in cloud computing, quantum computing, business software, IT professional solutions and services, developer tools, educational software, search engines, advertising, the windows operating system, windows applications & platforms, smartphones, future of work, productivity, artificial intelligence, machine learning, laptops, and virtual reality.
    With its subsidiaries and strong distribution network, the company has its presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Some of the subsidiaries of Microsoft are Double Fine Productions, GitHub, Semantic Machines, Mojang, Skype, and LinkedIn Corporation.

    Intel Corporation

    Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The company operates in the market through six segments, namely, Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ECG), Programmable Solutions Group (PSG), and All Other and New Technology Group (NTG).
    With its subsidiaries and a strong distribution network, the company has its presence in various regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The major subsidiaries of Intel Corporation are Altera, Mobileye, Nervana Systems, Wind River, eASIC Corporation, and many more.

    Cisco Systems Inc.

    The company operates in different verticals such as Energy, Education, Financial Services, Government, Healthcare, Manufacturing, Retail, Sports and Entertainment, Cities and Communities, and Transportation. The company offers products and services under various segments like Networking, Internet of Things (IoT), Mobility & Wireless, Security, Collaboration, Data Center, and Cloud. Under the IoT segment, it offers products and services in categories such as IoT Networking, IoT Gateways, Extended Enterprise, IoT Operations Management, IoT Data Management, and IoT Security.
    With its subsidiaries and a strong distribution network, the company has its presence in various regions such as North America, Europe, Asia-Pacific, and the Middle East & Africa. Some of the subsidiaries of Cisco Systems, Inc. are Cisco WebEx (U.S.), OpenDNS (U.S.), and BroadSoft (U.S.).

    PTC Inc.

    PTC Inc. is a software company. It is among the pioneers in digital transformation, and it offers digital solutions comprising IoT and AR technologies, among others. The company offers IIoT solutions for various industry verticals, including aerospace & defence, automotive, electronics, life sciences, and oil & gas. The ThingWorx platform is the most popular platform that hosts IIoT modules and is preferred by many industries.
    With its subsidiaries, the company has its offices in North America, Europe, Asia-Pacific, the Middle East & Africa, and Australia. Some subsidiaries of PTC, Inc. are, Kepware, Factora Solutions Corp, and Parametric Korea Co. Ltd. As of 2019, the company had a total headcount of 6,055 employees worldwide, and it has been expanding its presence at a rapid pace over the past few years.


    GE Digital

    GE Digital is a subsidiary of the global conglomerate corporation General Electrical Company. It is one of the leading global companies offering IIoT solutions and advisory services around operational technology and infrastructure. The company operates through several industry verticals, such as aviation, healthcare, manufacturing, mining, oil & gas, power generation, and transportation. Being one of the promising subsidiaries of General Electric (U.S.), GE Digital’s product offerings range from asset performance management and operations performance management to digital energy and manufacturing systems management. The company offers one of the leading IIoT platforms, Predix, in the IIoT market.
    With its subsidiaries and strong distribution network, the company has its presence across North America, South America, Europe, and the rest of the world. Some major subsidiaries of GE Digital are Bit Stew Systems Inc., Wise.io, Inc., and Nurego Inc.

    ABB Ltd.

    ABB Ltd. is extensively engaged in providing digital transformation solutions and services to various industry verticals. It operates majorly through four business segments, namely Electrification Products, Industrial Automation, Motion Technology, and Robotics and Discrete Automation. IIoT solutions are offered under the Industrial Automation segment of the company, which is also the second-largest revenue-generating segment.
    With its subsidiaries and a strong distribution network, the company has its geographic presence across the Americas, Europe, Asia, and the Middle East & Africa. Some of the major subsidiaries of ABB Ltd. are ABB Australia, Power-one, Inc. Tropos Network, among others.

    Rockwell Automation, Inc.

    Rockwell Automation, Inc. is an industrial automation and information provider that focuses on technology innovation, domain expertise, integrity, and corporate responsibility. The company offers its automation solutions to the automotive, chemical, entertainment, fiber & textiles, food & beverage, household infrastructure, life sciences, mining & metal, and oil & gas, among other industries. The company offers its IIoT platform—ThingWorx, under its Software Components segment. ThingWorx industrial connectivity provides a single solution to collect, aggregate, and securely access industrial operations data. It also provides data access for applications such as Manufacturing Execution Systems (MES), SCADA, IoT, and big data analytics software.
    With its subsidiaries and a strong distribution network, the company operates in North America, South America, Europe, Africa, and Asia-Pacific. Some of the major subsidiaries of Rockwell Automation Inc. include Allen-Bradley, Maverick Technologies, MESTECH Services Pvt Ltd, and Automation Control Products.

    KUKA AG

    KUKA AG is a global supplier of intelligent automation solutions that range from individual components to fully automated systems. The company offers its automation solutions to various industry verticals such as automotive, electronics, healthcare, metal, consumer goods, e-commerce, retail, and energy. The company’s IIoT offering is based on its consulting approach for ‘Industry 4.0’. It offers tailor-made, end-to-end solutions featuring a modular framework comprised of proven standard components. The company provides its IIoT solutions with expertise in web, cloud, and mobile platforms as well.
    With its subsidiaries and a strong distribution network, the company operates in North America, South America, Europe, Africa, and Asia-Pacific. Some of the major subsidiaries of KUKA AG are KUKA systems, Swisslog Holding, Reis Robotics, KUKA Roboter Schweiz AG, and KUKA Finance B.V.

    Schneider Electric SE

    Schneider Electric SE is a leading digital transformation energy management company globally. The company is also engaged in home, building, data center, infrastructure, and industrial automation. The company has a presence in over 100 countries across the globe, and it is considered as one of the global leaders in power management solutions offering medium-voltage, low-voltage, and secure power management solutions and automation systems.
    With its subsidiaries and a strong distribution network, the company operates in North America, South America, Europe, Africa, and Asia-Pacific. Some of the major subsidiaries of Schneider Electric SE include Merten, Aveva, Square D by Schneider Electric, and APC by Schneider Electric.

    Popular Mentions: Huawei Technologies, Dassault Systems, and Robert Bosch GmbH

     

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