According to a new market report published by Lucintel, the future of the industrial IoT market looks promising with opportunities in the manufacturing, transportation, energy, retail, healthcare, and other industries. The global industrial IoT market is expected to reach an estimated $403.3 billion by 2027 with a CAGR of 20% from 2021 to 2027. The major drivers for this market are increasing demand for automation in manufacturing industry, increasing adoption for IoT and AI, rising awareness for safety and security, and standardization of IPv6.
In this market, wired and wireless connectivity are used in a wide range of end use industries. Lucintel forecasts that wireless connectivity will remain the largest segment due to increasing usage of Wi-Fi, bluetooth, and cellular and satellite technologies.
Within the industrial IoT market, manufacturing will remain the largest end use industry during the forecast period due to predicative maintenance, demand for technology advancement and need for improved operation efficiency in various industries.
Asia Pacific will remain the largest region over the forecast period, supported by growing urbanization, increasing internet penetration, and growing adoption of IoT in various industries in the region.
Emerging trends, which have a direct impact on the dynamics of the industrial IoT industry, include growing adoption of artificial intelligence in IoT applications, edge computing, and blockchain technology in IoT. PTC, SAP, Cisco, General Electric, and Siemens are among the major industrial IoT manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global industrial IoT market by end use industry, connectivity, component, device and technology, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Industrial IoT Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global industrial IoT market by end use industry, connectivity, component, device and technology, and region as follows:
By End Use Industry [$B shipment analysis for 2016 – 2027]:
· Manufacturing
· Transportation
· Energy
· Retail
· Healthcare
· Others
By Connectivity [$B shipment analysis for 2016 – 2027]:
· Wired
· Wireless
By Component [$B shipment analysis for 2016 – 2027]:
· Solution
o Remote Monitoring
o Real-Time Location System
o Network Management
o Security
o Data Management
· Service
o Professional Service
o Managed Service
By Device and Technology [$B shipment analysis for 2016 – 2027]:
· Sensors
· RFID
· Industrial Robotics
· Distributed Control System
· Others
By Region [$B shipment analysis for 2016 – 2027]:
· North America
· Europe
· Asia Pacific
The Rest of the World
Browse 101 market data tables and 109 figures spread through 209 pages and in-depth TOC on “Market". To download report brochure, please go to
www.lucintel.com and click "report brochure" tab from the menu. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link
https://www.lucintel.com/industrial-iot-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. We offer market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the global industrial IoT market by end use industry (manufacturing, transportation, energy, retail, healthcare, and others), connectivity (wired and wireless), component (solution and service), device and technology (sensors, RFID, industrial robotics, distributed control system, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the industrial IoT market?
Q.5 What are the business risks and threats to the industrial IoT market?
Q.6 What are emerging trends in the industrial IoT market and the reasons behind them?
Q.7 What are some changing demands of customers in the industrial IoT market?
Q.8 What are the new developments in the industrial IoT market? Which companies are leading these developments?
Q.9 Who are the major players in the industrial IoT market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the industrial IoT market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11. What M&A activities did take place in the last five years in the industrial IoT market?