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Industrial Internet of Things (IoT) Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Feb 2021
  • Pages: 120
  • SKU: IRTNTR70241
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The industrial internet of things market share is expected to increase by USD 421.28 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 32.95%.

This global industrial internet of things market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers global industrial internet of things market segmentations by end-user (manufacturing, energy and utilities, automotive and transportation, healthcare, and others) and geography (North America, APAC, Europe, South America, and MEA). The global industrial internet of things market report also offers information on several market vendors, including ABB Ltd., Cisco Systems Inc., General Electric Co., Honeywell International Inc., Intel Corp., International Business Machines Corp., Robert Bosch GmbH, Rockwell Automation Inc., Siemens AG, and Yokogawa Electric Corp. among others.

What will the Industrial Internet Of Things Market Size be During the Forecast Period?

Industrial Internet of Things (IoT) Market Size

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Industrial Internet Of Things Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growth in industrial automation is notably driving the global industrial internet of things market growth, although factors such as lack of awareness of efficient manag ement of iot initiatives and investments may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the global industrial internet of things market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Industrial Internet Of Things Market Driver

The growth in industrial automation is one of the key factors driving the growth of the global industrial internet of things market. Process industries such as food and beverage, paper, oil and gas, and pharmaceuticals use manufacturing processes to convert raw materials into finished goods, which requires a high degree of automation as a variety of complex manufacturing equipment is used in such manufacturing processes. The integration of automated systems in these process industries is termed ?process automation.? Process automation is penetrating a number of industries as it involves less human intervention and ensures higher throughput, efficiency, reliability, and safety. Thus, the adoption of industrial automation systems is on the rise in process industries. To ensure factory and process automation, the prerequisites include control systems, networking technologies, and software. IoT devices fall under the category of control systems, and with the emerging trend of industrial automation, the demand for such devices will only increase. Such factors will increase the growth of the market during the forecast period.

Key Industrial Internet Of Things Market Trend

The evolution of global device managers will fuel the global industrial internet of things market. Vendors in the global industrial IoT market are looking to introduce global device managers that can eliminate the complexities involved in interoperability on IoT platforms. Global device managers permit OEMs and system integrators to monitor the installed base of devices remotely and address problems in real-time. The integration of global device managers with industrial IoT systems provides some benefits. For instance, OEMs and system integrators can remotely manage their installed base of devices. Similarly, global device managers can eliminate the need for learning additional programming languages or porting to address interoperability-related issues. The benefits provided by global device managers are anticipated to facilitate the adoption of industrial IoT solutions during the forecast period. The ability of global device managers to eliminate the challenge of interoperability in IoT platforms is likely to drive the adoption of industrial IoT solutions during the forecast period.

Key Industrial Internet Of Things Market Challenge

The lack of awareness of efficient management of IoT initiatives and investments are a major challenge for the global industrial internet of things market growth. Though the adoption of industrial IoT is on the rise, enterprises continue to face a considerable challenge in managing, securing, and optimizing their IoT investments. The implementation of IoT in industrial facilities is one of the primary tasks undertaken by industries. The next step is to train the employees on working on the IoT platform so as to allow workers to adapt better and faster to the IoT. However, most end-user industries are hesitant to adopt IoT systems as they do not have the skilled employee base to handle the technicalities involved. End-users are also aware of the fact that the training of employees requires substantial investments. These factors act as a challenge for the adoption of IoT and IoT data collection and device management platforms in industries, thereby restraining the growth of the global market in focus during the forecast period.

This global industrial internet of things market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

The global industrial Internet of Things (IoT) market is a part of the global communications equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the global industrial internet of things market during the forecast period.

Who are the Major Industrial Internet Of Things Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • Cisco Systems Inc.
  • General Electric Co.
  • Honeywell International Inc.
  • Intel Corp.
  • International Business Machines Corp.
  • Robert Bosch GmbH
  • Rockwell Automation Inc.
  • Siemens AG
  • Yokogawa Electric Corp.

 

This statistical study of the global industrial internet of things market encompasses successful business strategies deployed by the key vendors. The global industrial internet of things market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • ABB Ltd. - The company offers ABB integrated internet platform and cloud infrastructure.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The global industrial internet of things market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Industrial Internet Of Things Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the global industrial internet of things market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global communications equipment market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

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

Industrial Internet of Things (IoT) Market Market segmentation by region

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36% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for global industrial internet of things market in APAC. Market growth in this region will be faster than the growth of the market in regions.

The growth in industrial automation will facilitate the global industrial internet of things market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

Countries across the world are assembling all their resources and are deploying technologies to mitigate the effects of COVID-19 and report people who are at risk. In this scenario, technologies such as IoT have proven to be crucial, as they can help track the spread of the virus, identify high-risk patients, and control the infection rate in real-time. However, in 2021, the initiation of large-scale vaccination drives?has lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to drive the market during the forecast period.

What are the Revenue-generating End-User Segments in the Industrial Internet Of Things Market?

Industrial Internet of Things (IoT) Market Segmentation

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The global industrial internet of things market share growth by the manufacturing segment will be significant during the forecast period. Manufacturers worldwide are reaping the benefits of IoT technology in terms of enhancing business productivity and gaining a competitive advantage. Machines and devices are connected to the Internet through software.

The ongoing COVID-19- pandemic-triggered lockdown put a lot of strain on the industrial sector in 2020. For example, manufacturing industries have been affected in many ways due to the impact of COVID-19. Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the global industrial internet of things market size and actionable market insights on post COVID-19 impact on each segment.

Global Industrial Internet Of Things Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 32.95%

Market growth 2021-2025

$ 421.28 billion

Market structure

Fragmented

YoY growth (%)

29.48

Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

APAC at 36%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ABB Ltd., Cisco Systems Inc., General Electric Co., Honeywell International Inc., Intel Corp., International Business Machines Corp., Robert Bosch GmbH, Rockwell Automation Inc., Siemens AG, and Yokogawa Electric Corp.

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, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Global Industrial Internet Of Things Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive global industrial internet of things market growth during the next five years
  • Precise estimation of the global industrial internet of things market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the global industrial internet of things industry across North America, APAC, Europe, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of global industrial internet of things market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
  • 2.2 Market characteristics
    • Exhibit 02: Market characteristics
  • 2.3 Value chain analysis
    • Exhibit 03: Value chain analysis: Communication equipment market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • 5.2 Comparison by End-user
        • 5.3 Manufacturing - Market size and forecast 2020-2025
          • Exhibit 17: Manufacturing - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 18: Manufacturing - Year-over-year growth 2020-2025 (%)
        • 5.4 Energy and Utilities - Market size and forecast 2020-2025
          • Exhibit 19: Energy and Utilities - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 20: Energy and Utilities - Year-over-year growth 2020-2025 (%)
        • 5.5 Automotive and transportation - Market size and forecast 2020-2025
          • Exhibit 21: Automotive and transportation - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 22: Automotive and transportation - Year-over-year growth 2020-2025 (%)
        • 5.6 Healthcare - Market size and forecast 2020-2025
          • Exhibit 23: Healthcare - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 24: Healthcare - Year-over-year growth 2020-2025 (%)
        • 5.7 Others - Market size and forecast 2020-2025
          • Exhibit 25: Others - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 26: Others - Year-over-year growth 2020-2025 (%)
        • 5.8 Market opportunity by End-user
          • Exhibit 27: Market opportunity by End-user

        6 Customer landscape

        7 Geographic Landscape

        • 7.1 Geographic segmentation
          • Exhibit 29: Market share by geography 2020-2025 (%)
        • 7.2 Geographic comparison
          • Exhibit 30: Geographic comparison
        • 7.3 North America - Market size and forecast 2020-2025
          • Exhibit 31: North America - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 32: North America - Year-over-year growth 2020-2025 (%)
        • 7.4 APAC - Market size and forecast 2020-2025
          • Exhibit 33: APAC - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 34: APAC - Year-over-year growth 2020-2025 (%)
        • 7.5 Europe - Market size and forecast 2020-2025
          • Exhibit 35: Europe - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 36: Europe - Year-over-year growth 2020-2025 (%)
        • 7.6 South America - Market size and forecast 2020-2025
          • Exhibit 37: South America - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 38: South America - Year-over-year growth 2020-2025 (%)
        • 7.7 MEA - Market size and forecast 2020-2025
          • Exhibit 39: MEA - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 40: MEA - Year-over-year growth 2020-2025 (%)
        • 7.8 Key leading countries
          • Exhibit 41: Key leading countries
        • 7.9 Market opportunity by geography
          • Exhibit 42: Market opportunity by geography ($ billion)

        8 Drivers, Challenges, and Trends

        • 8.1 Market drivers
          • 8.2 Market challenges
            • Exhibit 43: Impact of drivers and challenges
          • 8.3 Market trends

            9 Vendor Landscape

            • 9.1 Competitive scenario
              • 9.2 Vendor landscape
                • Exhibit 44: Vendor landscape
              • 9.3 Landscape disruption
                • Exhibit 45: Landscape disruption
              • 9.4 Industry risks
                • Exhibit 46: Industry risks

              10 Vendor Analysis

              • 10.1 Vendors covered
                • Exhibit 47: Vendors covered
              • 10.2 Market positioning of vendors
                • Exhibit 48: Market positioning of vendors
              • 10.3 ABB Ltd.
                • Exhibit 49: ABB Ltd. - Overview
                • Exhibit 50: ABB Ltd. - Business segments
                • Exhibit 51: ABB Ltd. - Key news
                • Exhibit 52: ABB Ltd. - Key offerings
                • Exhibit 53: ABB Ltd. - Segment focus
              • 10.4 Cisco Systems Inc.
                • Exhibit 54: Cisco Systems Inc. - Overview
                • Exhibit 55: Cisco Systems Inc. - Business segments
                • Exhibit 56: Cisco Systems Inc. - Key news
                • Exhibit 57: Cisco Systems Inc. - Key offerings
                • Exhibit 58: Cisco Systems Inc. - Segment focus
              • 10.5 General Electric Co.
                • Exhibit 59: General Electric Co. - Overview
                • Exhibit 60: General Electric Co. - Business segments
                • Exhibit 61: General Electric Co. - Key news
                • Exhibit 62: General Electric Co. - Key offerings
                • Exhibit 63: General Electric Co. - Segment focus
              • 10.6 Honeywell International Inc.
                • Exhibit 64: Honeywell International Inc. - Overview
                • Exhibit 65: Honeywell International Inc. - Business segments
                • Exhibit 66: Honeywell International Inc. - Key news
                • Exhibit 67: Honeywell International Inc. - Key offerings
                • Exhibit 68: Honeywell International Inc. - Segment focus
              • 10.7 Intel Corp.
                • Exhibit 69: Intel Corp. - Overview
                • Exhibit 70: Intel Corp. - Business segments
                • Exhibit 71: Intel Corp. - Key news
                • Exhibit 72: Intel Corp. - Key offerings
                • Exhibit 73: Intel Corp. - Segment focus
              • 10.8 International Business Machines Corp.
                • Exhibit 74: International Business Machines Corp. - Overview
                • Exhibit 75: International Business Machines Corp. - Business segments
                • Exhibit 76: International Business Machines Corp. - Key news
                • Exhibit 77: International Business Machines Corp. - Key offerings
                • Exhibit 78: International Business Machines Corp. - Segment focus
              • 10.9 Robert Bosch GmbH
                • Exhibit 79: Robert Bosch GmbH - Overview
                • Exhibit 80: Robert Bosch GmbH - Business segments
                • Exhibit 81: Robert Bosch GmbH - Key news
                • Exhibit 82: Robert Bosch GmbH - Key offerings
                • Exhibit 83: Robert Bosch GmbH - Segment focus
              • 10.10 Rockwell Automation Inc.
                • Exhibit 84: Rockwell Automation Inc. - Overview
                • Exhibit 85: Rockwell Automation Inc. - Business segments
                • Exhibit 86: Rockwell Automation Inc. - Key news
                • Exhibit 87: Rockwell Automation Inc. - Key offerings
                • Exhibit 88: Rockwell Automation Inc. - Segment focus
              • 10.11 Siemens AG
                • Exhibit 89: Siemens AG - Overview
                • Exhibit 90: Siemens AG - Business segments
                • Exhibit 91: Siemens AG - Key news
                • Exhibit 92: Siemens AG - Key offerings
                • Exhibit 93: Siemens AG - Segment focus
              • 10.12 Yokogawa Electric Corp.
                • Exhibit 94: Yokogawa Electric Corp. - Overview
                • Exhibit 95: Yokogawa Electric Corp. - Business segments
                • Exhibit 96: Yokogawa Electric Corp. - Key news
                • Exhibit 97: Yokogawa Electric Corp. - Key offerings
                • Exhibit 98: Yokogawa Electric Corp. - Segment focus

              11 Appendix

              • 11.1 Scope of the report
                • 11.2 Currency conversion rates for US$
                  • Exhibit 99: Currency conversion rates for US$
                • 11.3 Research methodology
                  • Exhibit 100: Research Methodology
                  • Exhibit 101: Validation techniques employed for market sizing
                  • Exhibit 102: Information sources
                • 11.4 List of abbreviations
                  • Exhibit 103: List of abbreviations

                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
                Technavio

                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
                Technavio

                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 Market market growth will increase by $421.28 bn during 2021-2025.
                The industrial internet of things market market is expected to grow at a CAGR of 32.95% during 2021-2025.
                Technavio has segmented the industrial internet of things market market by end user (manufacturing, energy and utilities, automotive and transportation, healthcare, and others) ,geography (North America, APAC, Europe, South America, and MEA) , and geographic (North America, APAC, Europe, South America, and MEA).
                ABB Ltd., Cisco Systems Inc., General Electric Co., Honeywell International Inc., Intel Corp., International Business Machines Corp., Robert Bosch GmbH, Rockwell Automation Inc., Siemens AG, Yokogawa Electric Corp. are a few of the key vendors in the industrial internet of things market market.
                APAC will register the highest growth rate of 36% among the other regions. Therefore, the industrial internet of things market 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 market market growth are:
                • growth in industrial automation
                • Evolution of global device managers
                The industrial internet of things market market vendors should focus on grabbing business opportunities from the manufacturing segment as it accounted for the largest market share in the base year.
                • What are the key global market and the regional market share?
                • What are the revenue-generating key market segments?
                • What are the key factors driving and challenging this market’s growth?
                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?
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                • Parent market analysis
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                • Detailed vendors report with competitive landscape
                • Covid-19 impact and recovery analysis
                • Data on revenue-generating market segments
                • Details on the market shares of various regions
                • Five-force market analysis

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