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Industrial Internet of Things (IoT) Market by End-user, Component, and Geography - Forecast and Analysis 2023-2027

  • Published: Feb 2023
  • Pages: 186
  • SKU: IRTNTR70241
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The industrial internet of things (IoT) market is estimated to grow at a CAGR of 12.23% between 2022 and 2027. The size of the market is forecast to increase by USD 123.98 billion. The growth of the market depends on several factors, including growth in industrial automation, the growing importance of data-driven business outcomes in the industrial sector, and increasing focus on providing end-to-end services. 

This report extensively covers market segmentation by end-user (manufacturing, automotive and transportation, energy and utilities, healthcare, and others), component (hardware, software, and services), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Industrial Internet Of Things (IoT) Market During the Forecast Period?

Industrial Internet of Things (IoT) Market Size

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Industrial Internet Of Things (IoT) Market: Key Drivers, Trends, Challenges, and Customer Landscape

The growing importance of data-driven business outcomes in the industrial sector is notably driving market growth, although factors such as increasing cybersecurity threats may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Industrial Internet Of Things (IoT) Market Driver

The growing importance of data-driven business outcomes in the industrial sector is notably driving market growth. With the advent of technologies such as sensors, radio-frequency identification (RFID), scanners, and digital gauges, the generation of a huge amount of data has become a possibility. As more and more devices in industries get connected through IoT, the amount of data generated continues to rise.

The data availed from devices can be used by industry managers to improve productivity by ensuring the optimization of resources and reducing downtime. The advent of real-time data analytics has opened up new probabilities for the use of the data obtained. Currently, many vendors of IoT solutions are looking toward introducing data-driven products,  solutions, and services for industrial facilities to enhance efficiency and throughput. The growing importance of data-driven business outcomes in industries has increased the need for IoT data collection and device management platforms. Therefore, with the growing reliance of industries on the data generated from various processes, the need for industrial IoT solutions is expected to accelerate globally during the forecast period.

Significant Industrial Internet Of Things (IoT) Market Trend

Leveraging manufacturing data for predictive maintenance is an emerging trend in the market. The demand for IoT-enabled solutions has increased, primarily due to the need for data collection and analysis to solve complex maintenance tasks. IoT-enabled devices aid in monitoring the overall plant operations. Using the data available with regard to machines and systems, industrial operators can compare the efficiency and performance of all the machines, thereby helping operators plan maintenance activities accordingly and reducing the overall downtime due to unplanned machine failure. Therefore, end-users have shifted their focus toward predictive maintenance. 

IoT-enabled devices are particularly helpful in industries that use a substantially large number of automation control solutions and instruments in their operations. Therefore, the monitoring of these automation systems and instruments becomes a prime task for industrial operators. The data received from legacy systems and sensors with different protocols, standards, and systems can be sent to the server using industrial IoT gateways. The industrial IoT gateway sits in between the IoT-connected devices and physical or cloud servers. The ability to aggregate the data routed to the server at high speed has intensified the need for industrial IoT solutions that are used for predictive maintenance. Therefore, these factors will boost the market growth during the forecast period. 

Major Industrial Internet Of Things (IoT) Market Challenge

The increasing cybersecurity threats are major challenges impeding market growth. IoT grants real-time access to operational data by integrating the corporate network with industrial systems. This integration not only allows end-users to leverage IoT capabilities such as predictive maintenance and smart analytics but also exposes the industrial system to various cyber threats. The notable cyber threats include malware attacks and the sabotage of data.

Cybersecurity has always been a threat to web-based systems, and the same applies to IoT. The inclusion of industrial systems within the scope of IoT increases the risk of data theft. There are different anti-malware programs that promise to protect industrial systems against such cyberattacks. However, even such solutions are deemed to be unsecured. With the increasing adoption of IoT in end-user industries, the need for increasing cybersecurity is on the rise. Most end-users of IoT are susceptible to cyberattacks in the absence of a failsafe cybersecurity option. Therefore, these factors will hinder the growth of the global market during the forecast period. 

Key Industrial Internet Of Things (IoT) Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Industrial Internet of Things (IoT) Market Share by Geography

Global Industrial Internet of Things (IoT) Market Customer Landscape

Who are the Major Industrial Internet of Things (IoT) Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

ABB Ltd. - The company operates under multiple segments including electrification, and motion among others, with a high focus on electrification.? The company under this segment?offers electrification and building management solutions, products and services for utilities, industry, transport, and infrastructure. The company's key offerings include industrial internet of things solutions. 

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • Advantech Co. Ltd.
  • Arm Ltd.
  • Dassault Systemes SE
  • General Electric Co.
  • Honeywell International Inc.
  • Huawei Technologies Co. Ltd.
  • Intel Corp.
  • International Business Machines Corp.
  • KUKA AG
  • Microsoft Corp.
  • NEC Corp.
  • Qualcomm Inc.
  • Robert Bosch GmbH
  • Rockwell Automation Inc.
  • Siemens AG

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Industrial Internet Of Things (IoT) Market?

The market share growth by the manufacturing segment will be significant during the forecast period. This segment includes the machinery, chemicals and materials, and electrical and electronics segments. Manufacturers worldwide are reaping the benefits of IoT technology in terms of enhancing business productivity and gaining a competitive advantage. 

Industrial Internet of Things (IoT) Market Size

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The manufacturing segment was valued at USD 37.15 billion in 2017 and continued to grow until 2021The COVID-19 pandemic-triggered lockdown put a lot of strain on the industrial sector in 2020. Various manufacturers had to shut down their plants in response to the lockdown orders issued by different governments. During such a crisis, IoT technology helped several organizations continue their operations. IoT helped organizations in the smooth transition of manufacturing floor operations in a number of ways. For instance, the IoT platforms used in the manufacturing industry supported the continuation of operations even with fewer employees onsite because of their capability to facilitate remote work with regard to both direct and indirect functions. Hence, owing to such advantages, the demand for industrial IoT in the manufacturing sector has increased even after the containment of the pandemic in the majority of the regions. Such factors will augment the market's growth in this segment during the forecast period.

Which are the Key Regions for the Industrial Internet Of Things (IoT) Market?

Industrial Internet of Things (IoT) Market Share by Geography

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APAC is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

China is the key leading country for industrial IoT solutions in APAC. The country's growth is attributed to initiatives such as Made in China Strategy 2025 and Internet Plus introduced by the Chinese government. The presence of vendors of M2M and IoT solutions and close collaborations between the country's leading mobile operators and the government have enabled the industrial IoT market to grow quickly. Increased investments in infrastructure development by the government in India, China, and the Philippines and efforts toward modernization by small and medium-sized enterprises (SMEs) in these countries have increased the adoption of IoT elements. In addition, the smart city initiatives undertaken by the governments in APAC to improve city management operations and deliver better public services are boosting the adoption of embedded sensors for connecting smart machines over the internet. 

Additionally, key industrial countries such as Japan and South Korea have recently started initiatives to support the industrial IoT revolution. The industrial IoT market in India will immensely grow as the country's government is set to invest in IoT solutions for smart traffic, smart homes, and other infrastructure development programs. Moreover, automotive giants such as Tata Motors use sensors and telematics technology in their commercial vehicles to help fleet managers track vehicles. Hence, such factors will boost market growth during the forecast period. 

Countries across the world assembled all their resources and deployed technologies to mitigate the effects of COVID-19 and report people who are at risk in 2020. In this scenario, technologies such as IoT have proven to be crucial, as they helped track the spread of the virus, identify high-risk patients, and control the infection rate in real-time. For example, hospitals in Wuhan, the epicentre of the outbreak, were staffed entirely by robots with IoT devices. Additionally, the increase in commercial, residential, and public infrastructure in APAC are also expected to drive the growth of the market during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • End-user Outlook (USD Billion, 2017 - 2027)
    • Manufacturing
    • Automotive and Transportation
    • Energy and utilities
    • Healthcare
    • Others
  • Component Outlook (USD Billion, 2017 - 2027)
    • Hardware
    • Software
    • Services
  • Region Outlook (USD Billion, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Chile
      • Brazil
      • Argentina

Industrial Internet Of Things (IoT) Market Scope

Report Coverage

Details

Page number

186

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 12.23%

Market growth 2023-2027

USD 123.98 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

11.25

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 42%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

ABB Ltd., Advantech Co. Ltd., Arm Ltd., Dassault Systemes SE, General Electric Co., Honeywell International Inc., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., KUKA AG, Microsoft Corp., NEC Corp., Qualcomm Inc., Robert Bosch GmbH, Rockwell Automation Inc., Siemens AG, Telefonaktiebolaget LM Ericsson, Texas Instruments Inc., Yokogawa Electric Corp., and Cisco Systems Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. 

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Industrial Internet Of Things (IoT) Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the industrial internet of things (IoT) market between 2023 and 2027
  • Precise estimation of the size of the industrial internet of things (IoT) market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the industry across APAC, North America, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of industrial internet of things (IoT) market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Component
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global industrial Internet of things (IoT) market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global industrial Internet of things (IoT) market 2017 - 2021 ($ billion)
    • 4.2 Component Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Component Segment 2017 - 2021 ($ billion)
    • 4.3 End-User Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – End-User Segment 2017 - 2021 ($ billion)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)
    • 6.2 Comparison by End-user
      • Exhibit 32: Chart on Comparison by End-user
      • Exhibit 33: Data Table on Comparison by End-user
    • 6.3 Manufacturing - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Manufacturing - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 35: Data Table on Manufacturing - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 36: Chart on Manufacturing - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Manufacturing - Year-over-year growth 2022-2027 (%)
    • 6.4 Automotive and transportation - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Automotive and transportation - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 39: Data Table on Automotive and transportation - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 40: Chart on Automotive and transportation - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Automotive and transportation - Year-over-year growth 2022-2027 (%)
    • 6.5 Energy and utilities - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Energy and utilities - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 43: Data Table on Energy and utilities - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 44: Chart on Energy and utilities - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Energy and utilities - Year-over-year growth 2022-2027 (%)
    • 6.6 Healthcare - Market size and forecast 2022-2027
      • Exhibit 46: Chart on Healthcare - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 47: Data Table on Healthcare - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 48: Chart on Healthcare - Year-over-year growth 2022-2027 (%)
      • Exhibit 49: Data Table on Healthcare - Year-over-year growth 2022-2027 (%)
    • 6.7 Others - Market size and forecast 2022-2027
      • Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 6.8 Market opportunity by End-user
      • Exhibit 54: Market opportunity by End-user ($ billion)

    7 Market Segmentation by Component

    • 7.1 Market segments
      • Exhibit 55: Chart on Component - Market share 2022-2027 (%)
      • Exhibit 56: Data Table on Component - Market share 2022-2027 (%)
    • 7.2 Comparison by Component
      • Exhibit 57: Chart on Comparison by Component
      • Exhibit 58: Data Table on Comparison by Component
    • 7.3 Hardware - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Hardware - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 60: Data Table on Hardware - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 61: Chart on Hardware - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Hardware - Year-over-year growth 2022-2027 (%)
    • 7.4 Software - Market size and forecast 2022-2027
      • Exhibit 63: Chart on Software - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 64: Data Table on Software - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 65: Chart on Software - Year-over-year growth 2022-2027 (%)
      • Exhibit 66: Data Table on Software - Year-over-year growth 2022-2027 (%)
    • 7.5 Services - Market size and forecast 2022-2027
      • Exhibit 67: Chart on Services - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 68: Data Table on Services - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 69: Chart on Services - Year-over-year growth 2022-2027 (%)
      • Exhibit 70: Data Table on Services - Year-over-year growth 2022-2027 (%)
    • 7.6 Market opportunity by Component
      • Exhibit 71: Market opportunity by Component ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 72: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 73: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 74: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 75: Chart on Geographic comparison
      • Exhibit 76: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 North America - Market size and forecast 2022-2027
      • Exhibit 81: Chart on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 82: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 83: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.5 Europe - Market size and forecast 2022-2027
      • Exhibit 85: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 86: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 87: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 89: Chart on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 93: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 94: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 95: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 97: Chart on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 98: Data Table on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 99: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 China - Market size and forecast 2022-2027
      • Exhibit 101: Chart on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 102: Data Table on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 103: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.10 Germany - Market size and forecast 2022-2027
      • Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.11 Japan - Market size and forecast 2022-2027
      • Exhibit 109: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 110: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 111: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 112: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.12 UK - Market size and forecast 2022-2027
      • Exhibit 113: Chart on UK - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 114: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 115: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 116: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 117: Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 118: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 119: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 120: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 121: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 122: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 123: Matrix on vendor position and classification
            • 12.3 ABB Ltd.
              • Exhibit 124: ABB Ltd. - Overview
              • Exhibit 125: ABB Ltd. - Business segments
              • Exhibit 126: ABB Ltd. - Key offerings
              • Exhibit 127: ABB Ltd. - Segment focus
            • 12.4 Cisco Systems Inc.
              • Exhibit 128: Cisco Systems Inc. - Overview
              • Exhibit 129: Cisco Systems Inc. - Business segments
              • Exhibit 130: Cisco Systems Inc. - Key news
              • Exhibit 131: Cisco Systems Inc. - Key offerings
              • Exhibit 132: Cisco Systems Inc. - Segment focus
            • 12.5 Dassault Systemes SE
              • Exhibit 133: Dassault Systemes SE - Overview
              • Exhibit 134: Dassault Systemes SE - Product / Service
              • Exhibit 135: Dassault Systemes SE - Key news
              • Exhibit 136: Dassault Systemes SE - Key offerings
            • 12.6 General Electric Co.
              • Exhibit 137: General Electric Co. - Overview
              • Exhibit 138: General Electric Co. - Business segments
              • Exhibit 139: General Electric Co. - Key news
              • Exhibit 140: General Electric Co. - Key offerings
              • Exhibit 141: General Electric Co. - Segment focus
            • 12.7 Honeywell International Inc.
              • Exhibit 142: Honeywell International Inc. - Overview
              • Exhibit 143: Honeywell International Inc. - Business segments
              • Exhibit 144: Honeywell International Inc. - Key news
              • Exhibit 145: Honeywell International Inc. - Key offerings
              • Exhibit 146: Honeywell International Inc. - Segment focus
            • 12.8 Intel Corp.
              • Exhibit 147: Intel Corp. - Overview
              • Exhibit 148: Intel Corp. - Business segments
              • Exhibit 149: Intel Corp. - Key news
              • Exhibit 150: Intel Corp. - Key offerings
              • Exhibit 151: Intel Corp. - Segment focus
            • 12.9 International Business Machines Corp.
              • Exhibit 152: International Business Machines Corp. - Overview
              • Exhibit 153: International Business Machines Corp. - Business segments
              • Exhibit 154: International Business Machines Corp. - Key offerings
              • Exhibit 155: International Business Machines Corp. - Segment focus
            • 12.10 Microsoft Corp.
              • Exhibit 156: Microsoft Corp. - Overview
              • Exhibit 157: Microsoft Corp. - Business segments
              • Exhibit 158: Microsoft Corp. - Key news
              • Exhibit 159: Microsoft Corp. - Key offerings
              • Exhibit 160: Microsoft Corp. - Segment focus
            • 12.11 NEC Corp.
              • Exhibit 161: NEC Corp. - Overview
              • Exhibit 162: NEC Corp. - Business segments
              • Exhibit 163: NEC Corp. - Key news
              • Exhibit 164: NEC Corp. - Key offerings
              • Exhibit 165: NEC Corp. - Segment focus
            • 12.12 Qualcomm Inc.
              • Exhibit 166: Qualcomm Inc. - Overview
              • Exhibit 167: Qualcomm Inc. - Business segments
              • Exhibit 168: Qualcomm Inc. - Key news
              • Exhibit 169: Qualcomm Inc. - Key offerings
              • Exhibit 170: Qualcomm Inc. - Segment focus
            • 12.13 Robert Bosch GmbH
              • Exhibit 171: Robert Bosch GmbH - Overview
              • Exhibit 172: Robert Bosch GmbH - Business segments
              • Exhibit 173: Robert Bosch GmbH - Key news
              • Exhibit 174: Robert Bosch GmbH - Key offerings
              • Exhibit 175: Robert Bosch GmbH - Segment focus
            • 12.14 Rockwell Automation Inc.
              • Exhibit 176: Rockwell Automation Inc. - Overview
              • Exhibit 177: Rockwell Automation Inc. - Business segments
              • Exhibit 178: Rockwell Automation Inc. - Key news
              • Exhibit 179: Rockwell Automation Inc. - Key offerings
              • Exhibit 180: Rockwell Automation Inc. - Segment focus
            • 12.15 Siemens AG
              • Exhibit 181: Siemens AG - Overview
              • Exhibit 182: Siemens AG - Business segments
              • Exhibit 183: Siemens AG - Key news
              • Exhibit 184: Siemens AG - Key offerings
              • Exhibit 185: Siemens AG - Segment focus
            • 12.16 Texas Instruments Inc.
              • Exhibit 186: Texas Instruments Inc. - Overview
              • Exhibit 187: Texas Instruments Inc. - Business segments
              • Exhibit 188: Texas Instruments Inc. - Key news
              • Exhibit 189: Texas Instruments Inc. - Key offerings
              • Exhibit 190: Texas Instruments Inc. - Segment focus
            • 12.17 Yokogawa Electric Corp.
              • Exhibit 191: Yokogawa Electric Corp. - Overview
              • Exhibit 192: Yokogawa Electric Corp. - Business segments
              • Exhibit 193: Yokogawa Electric Corp. - Key offerings
              • Exhibit 194: Yokogawa Electric Corp. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 195: Inclusions checklist
                • Exhibit 196: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 197: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 198: Research methodology
                • Exhibit 199: Validation techniques employed for market sizing
                • Exhibit 200: Information sources
              • 13.5 List of abbreviations
                • Exhibit 201: List of abbreviations
              • in manufacturing industry: Market dynamics in some major process and discrete industries are changing drastically, and manufacturers are gradually feeling the brunt of excessive demand fluctuations. The fluctuating prices of oil and gas and metals in the global market and the shortage of a skilled workforce worldwide have directly affected the profitability of manufacturing companies. A sudden and unexpected shift in market dynamics can drastically impact manufacturing processes and investments in capital goods.

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
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                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
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                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                Industrial Internet of Things (IoT) market growth will increase by $123.98 billion during 2023-2027.
                The industrial internet of things (iot) market is expected to grow at a CAGR of 12.23% during 2023-2027.
                Technavio has segmented the industrial internet of things (iot) market by end-user (Manufacturing, Automotive and transportation, Energy and utilities, Healthcare, and Others) ,component (Hardware, Software, Services, South America, and MEA) , and geography (APAC, North America, Europe, South America, and Middle East and Africa).
                ABB Ltd., Advantech Co. Ltd., Arm Ltd., Dassault Systemes SE, General Electric Co., Honeywell International Inc., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., KUKA AG, Microsoft Corp., NEC Corp., Qualcomm Inc., Robert Bosch GmbH, Rockwell Automation Inc., Siemens AG, Telefonaktiebolaget LM Ericsson, Texas Instruments Inc., Yokogawa Electric Corp., Cisco Systems Inc. are a few of the key vendors in the industrial internet of things (iot) market.
                APAC will register the highest growth rate of 41.81% among the other regions. Therefore, the industrial internet of things (iot) market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the industrial internet of things (iot) market growth are:
                • Growth in industrial automation
                • Evolution of global device managers
                The industrial internet of things (iot) market vendors should focus on grabbing business opportunities from the manufacturing segment as it accounted for the largest market share in the base year.
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