Press release
Evolving Market Trends In The Industrial Internet Of Things (IIoT) Industry: Innovative Solutions In Cellular IoT Connectivity Platform Fuel The Market Growth Due To Enhanced Deployment Efficiency And Scalability
Industrial Internet Of Things (IIoT)
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What Is the Expected Industrial Internet Of Things (IIoT) Market Size During the Forecast Period?_x000D_
The size of the industrial internet of things (IIOT) market has experienced accelerated growth recently. The market, presently valued at $243.12 billion in 2024, is projected to increase to $278.97 billion in 2025, yielding a compound annual growth rate (CAGR) of 14.7%. Factors that contributed to its growth in the past include enhanced use of automation in manufacturing, widespread adoption of wireless communication, the expansion of cloud computing, the rising demand for predictive maintenance, and incorporation with enterprise systems._x000D_
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Over the coming years, the market size of the industrial internet of things (IIOT) is anticipated to experience significant expansion. The prediction suggests a size of $479.20 billion by 2029, with a compound annual growth rate (CAGR) of 14.5%. Factors contributing to this growth within the forecast period include a greater focus on cybersecurity investment, the need for immediate data monitoring, blockchain integration, priority on energy efficiency, creation of compatible platforms, and a boost in smart factory projects. Key trends projected for this timeframe include greater incorporation of artificial intelligence and machine learning, expansion of edge artificial intelligence, integration of digital twins, growth of low-power wide-area networks, and progress in industrial robotics._x000D_
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What Are the High-Growth Segments in the Industrial Internet Of Things (IIoT) Market?_x000D_
The industrial internet of things (IIoT) market covered in this report is segmented -_x000D_
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1) By Component: Hardware, Software, Services_x000D_
2) By Deployment: On-Cloud, On-Premises, Hybrid_x000D_
3) By Connectivity: Wired, Wireless_x000D_
4) By End-User: Information Technology And Telecommunication, Manufacturing, Healthcare, Retail, Oil And Gas, Energy And Power, Automotive, Other End-Users_x000D_
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Subsegments:_x000D_
1) By Hardware: Sensors, Actuators, Embedded Systems, Communication and Network Devices, Industrial Personal Computers, Cameras_x000D_
2) By Solution: Network and Connectivity Solutions, Data Management and Analytics, Remote Monitoring Solutions, Industrial Automation Solutions, Security Solutions, Predictive Maintenance Solutions, Asset Management Solutions_x000D_
3) By Service: Consulting Services, System Integration Services, Managed Services, Support and Maintenance Services_x000D_
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What Key Drivers Are Expected to Influence Future Industrial Internet Of Things (IIoT) Market Growth?_x000D_
The mounting integration of automation is anticipated to boost the expansion of the industrial internet of things (IIoT) market in the future. Automation encompasses the utilization of cutting-edge technology to execute tasks with little to no human involvement. It signifies the implementation of control systems, software, and machines to manage equipment, processes, or systems, enhancing efficiency, precision, and uniformity. As automation aids businesses in saving time and slashing operational expenses by reducing manual labor, its adoption is on the rise. The industrial internet of things (IIoT) benefits industries by facilitating real-time data gathering and analysis, optimizing operations, and curtailing downtime. It augments efficiency, predictive maintenance, and decision-making via connected devices and automation. For example, in April 2024, the International Federation of Robotics, a non-governmental organization based in Germany, documented 44,303 industrial robot installations in 2023, marking a 12% increase from the preceding year. Consequently, the escalating integration of automation is steering the expansion of the industrial internet of things (IIoT) market._x000D_
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Which Companies Hold the Largest Share Across Different Industrial Internet Of Things (IIoT) Market Segments?_x000D_
Major companies operating in the industrial internet of things (IIoT) market are Samsung Electronics Co. Ltd., Microsoft Corporation, Amazon Web Services Inc., Bosch Global Software Technologies GmbH, Huawei Technologies Co. Ltd., Hitachi Ltd., Siemens AG, Lenovo Group Limited, Intel Corporation, accenture* plc, International Business Machines Corporation, Panasonic Holdings Corporation, Cisco Systems Inc., Oracle Corporation, Mitsubishi Electric Corporation, Honeywell International Inc., SAP SE, Johnson Controls International plc, Alibaba Cloud, Toshiba Corporation, ARM Holdings._x000D_
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What Trends Are Driving Growth in The Industrial Internet Of Things (IIoT) Market?_x000D_
Key enterprises in the industrial internet of things market are prioritizing the creation of groundbreaking solutions, specifically, a cellular IoT connectivity platform, which enhances and expands IoT deployments for industrial applications. Essentially, this platform allows IoT devices to link up and interact over cellular networks, controlling data transmission, monitoring, and device operation by utilizing technologies like 4G LTE and 5G. As a case in point, in February 2022, Telefonaktiebolaget LM Ericsson, a telecommunications and networking firm nestled in Sweden, introduced IoT Accelerator Connect. This framework simplifies the process of connecting IoT devices to cellular networks, enabling companies to roll out IoT solutions more effectively. It facilitates faster device integration, reduces time to market, and boosts scalability through cloud and eSIM connectivity. By diminishing complexity, this platform grants easier entry to IoT services, fostering innovation and industrial growth._x000D_
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What Are the Emerging Geographies for The Industrial Internet Of Things (IIoT) Market Growth?_x000D_
North America was the largest region in the industrial internet of things (IIoT) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial internet of things (IIoT) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa._x000D_
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Frequently Asked Questions:_x000D_
1. What Is the Market Size and Growth Rate of the Industrial Internet Of Things (IIoT) Market?_x000D_
2. What is the CAGR expected in the Industrial Internet Of Things (IIoT) Market?_x000D_
3. What Are the Key Innovations Transforming the Industrial Internet Of Things (IIoT) Industry?_x000D_
4. Which Region Is Leading the Industrial Internet Of Things (IIoT) Market?_x000D_
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Why This Report Matters:_x000D_
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Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors._x000D_
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Informed Decisions: Understand key strategies related to products, segmentation, and industry trends._x000D_
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Efficient Research: Quickly identify market growth, leading players, and major segments.
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