産業用IoT市場 : 2029年までの世界予測

Industrial IoT Market - Global Forecast To 2029

産業用IoT市場 : 提供内容 [ハードウェア (プロセッサ、接続 IC、センサー、メモリデバイス、ロジックデバイス)、ソフトウェア (PLM、MES、SCADA、OMS)、プラットフォーム]、接続テクノロジ、展開、業種および地域別 - 2029年までの世界予測
Industrial IoT Market by Offering (Hardware (Processors, Connectivity ICs, Sensors, Memory Devices, Logic Devices), Software (PLM, MES, SCADA, OMS), Platforms), Connectivity Technology, Deployment, Vertical and Region - Global Forecast to 2029
出版MarketsandMarkets
出版年月2024年6月
ページ数239
図表数201
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

Report Overview

The industrial IoT market is valued at USD 194.4 billion in 2024 and is projected to reach USD 286.3 billion by 2029; it is expected to grow at a CAGR of 8.1% from 2024 to 2029.

産業用IoT市場は2024年に1,944億米ドルと評価され、2029年までに2,863億米ドルに達すると予測されています。 2024 年から 2029 年にかけて 8.1% の CAGR で成長すると予想されています。

Predictive maintenance of machinery, and emergence of 5G technology provide lucrative opportunities to the industrial IoT market.

産業用IoT市場 : 2029年までの世界予測

“Cloud-based deployment segment to register highest growth rate during the forecast period.”
The cloud-based deployment type currently has the largest market share and is expected to grow at the highest rate during the forecast period. Cloud platforms provide easy scalability to accommodate increasing data volumes and device numbers, making them an attractive option for businesses of all sizes. Cloud deployment eliminates the need for significant investments in on-premise hardware and IT infrastructure, making it a cost-effective option. Cloud service providers (CSPs) are continuously enhancing security measures to address concerns about data privacy and compliance. Cloud technology is constantly evolving, offering new features, functionalities, and enhanced capabilities for industrial IoT applications. As the industrial IoT market expands, the demand for scalable and cost-effective cloud platforms will increase.

産業用IoT市場 : 2029年までの世界予測 ecosystem

“Wireless connectivity technology segment is expected to register highest growth rate during the forecast period.”
Wireless connectivity technology holds the larger market share and is expected to grow with the highest CAGR within the Industrial IoT space. Wireless solutions offer greater ease of deployment and scalability compared to wired connections. Adding new devices or changing layouts is simpler with wireless, making them ideal for complex industrial environments. Wireless solutions can be easier and cheaper to install than wired networks, especially in existing facilities where installing wires might be disruptive or expensive. The ease of deploying wireless sensors and devices can accelerate the implementation of IIoT projects, reducing time to value.

“Germany is expected to hold the largest market share during the forecast period.”
Germany held the largest share of the industrial IoT market in Europe in 2023 and is expected to retain its position during the forecast period due to huge government investments in R&D. In Europe, Germany leads in the implementation of IoT solutions, particularly in the manufacturing and automotive industries. It is also at the forefront of incorporating IoT technology in the energy sector to improve energy conservation. German industrial production is vital to Europe’s largest economy. Companies in high-tech industries like machinery, automotive, chemicals, pharmaceuticals, electronics, and aerospace are spearheading the adoption of advanced technologies. Siemens, Bosch, and other companies have already integrated the Internet of Things and web-based manufacturing processes in their factories. Wittenstein and Bosch, electric motor manufacturers, have implemented smart technology in their hydraulic equipment assembly lines to enhance production efficiency.
Following is the breakup of the profiles of the primary participants for the report.

• By Company Type: Tier 1 – 45 %, Tier 2 – 35%, and Tier 3 – 20%
• By Designation: C-Level Executives –32%, Directors- 40%, and Others – 28%
• By Region: North America– 37%, Europe- 15%, Asia Pacific – 40%, and RoW – 8%

産業用IoT市場 : 2029年までの世界予測 region

The report profiles key industrial IoT market players and analyzes their market shares. Players profiled in this report are ABB (Switzerland), General Electric (US), Emerson Electric Co. (US), Intel Corporation (US), Cisco Systems, Inc. (US), SAP SE (Germany), Honeywell International Inc. (US), Siemens (Germany), Huawei Technologies Co., Ltd. (China), etc.

Research Coverage
The report defines, describes, and forecasts the industrial IoT market based on Offering, Connectivity Technology, Deployment, Vertical, and Region. It provides detailed information regarding drivers, restraints, opportunities, and challenges influencing the growth of the industrial IoT market. It also analyses competitive developments such as product launches, acquisitions, expansions, contracts, partnerships, and actions conducted by the key players to grow in the market.

Reasons to Buy This Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall industrial IoT and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

• Analysis of key drivers (Global rise in internet penetration, growing adoption of cloud platforms, increasing adoption of IPv6, increased IoT-related government initiatives and R&D activities worldwide, and rise in demand for automation in industries), restraints (Incompatibility of legacy equipment with communication networks, and lack of standardization in IoT protocols), opportunities (Emergence of 5G technology, rise in demand for IoT-enabled digital transformation in businesses across verticals, and predictive maintenance of machinery), and challenges (Susceptibility of IoT technologies to cyber attacks, maintenance and updates of IIoT systems, and lack of skilled professionals) influencing the growth of the industrial IoT market.

• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the industrial IoT market

• Market Development: Comprehensive information about lucrative markets – the report analyses the industrial IoT market across varied regions.

• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the industrial IoT market

• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like ABB (Switzerland), General Electric (US), Emerson Electric Co. (US), Intel Corporation (US), Cisco Systems, Inc. (US), SAP SE (Germany), Honeywell International Inc. (US), Siemens (Germany), Huawei Technologies Co., Ltd. (China), Rockwell Automation (US), Arm Limited (UK), PTC (US), Dassault Systèmes (France), IBM (US), Robert Bosch GmbH (Germany), NEC Corporation (Japan), Software AG (Germany), Texas Instruments Incorporated (US), KUKA AG (Germany), Dragos, Inc. (US), Google LLC (US), and Microsoft Corporation (US), among others in the industrial IoT market strategies. The report also helps stakeholders understand the pulse of the industrial IoT market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Table of Contents

1            INTRODUCTION            26

1.1         STUDY OBJECTIVES      26

1.2         MARKET DEFINITION   26

1.3         STUDY SCOPE  27

1.3.1      INCLUSIONS AND EXCLUSIONS 27

1.3.2      MARKETS COVERED     28

FIGURE 1           INDUSTRIAL IOT: MARKET SEGMENTATION     28

1.3.3      REGIONAL SCOPE         29

1.3.4      YEARS CONSIDERED     29

1.4         CURRENCY CONSIDERED          30

1.5         UNIT CONSIDERED       30

1.6         STAKEHOLDERS            30

1.7         SUMMARY OF CHANGES            31

1.8         RECESSION IMPACT      31

2            RESEARCH METHODOLOGY     32

2.1         RESEARCH DATA           32

FIGURE 2           INDUSTRIAL IOT MARKET: RESEARCH DESIGN 32

2.1.1      SECONDARY DATA       33

2.1.1.1   Major secondary sources    34

2.1.1.2   Key data from secondary sources     34

2.1.2      PRIMARY DATA 34

2.1.2.1   Key participants in primary interviews           35

2.1.2.2   Key data from primary sources         35

2.1.2.3   Key industry insights          36

2.1.2.4   Breakdown of primaries     36

2.1.3      SECONDARY AND PRIMARY RESEARCH 37

2.2         MARKET SIZE ESTIMATION       38

FIGURE 3           RESEARCH FLOW OF MARKET SIZE ESTIMATION           38

2.2.1      BOTTOM-UP APPROACH           39

2.2.1.1   Approach for estimating market size by bottom-up analysis (demand side)              39

FIGURE 4           MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH       39

2.2.2      TOP-DOWN APPROACH             40

2.2.2.1   Approach for estimating market size by top-down analysis (supply side)  40

FIGURE 5           APPROACH USED TO CAPTURE MARKET SIZE FROM SUPPLY SIDE     40

FIGURE 6           MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH       41

2.3         MARKET BREAKDOWN AND DATA TRIANGULATION    41

FIGURE 7           DATA TRIANGULATION: INDUSTRIAL IOT MARKET      41

2.4         RESEARCH ASSUMPTIONS         42

2.5         PARAMETERS CONSIDERED TO ANALYZE RECESSION IMPACT ON INDUSTRIAL IOT MARKET         43

2.6         RISK ASSESSMENT         43

2.7         RESEARCH LIMITATIONS           44

3            EXECUTIVE SUMMARY 45

FIGURE 8           HARDWARE SEGMENT TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL IOT MARKET DURING FORECAST PERIOD 46

FIGURE 9           WIRELESS CONNECTIVITY SEGMENT TO RECORD HIGHER CAGR IN INDUSTRIAL IOT MARKET DURING FORECAST PERIOD           46

FIGURE 10         CLOUD-BASED DEPLOYMENT SEGMENT TO HOLD LARGER SHARE OF INDUSTRIAL IOT MARKET DURING FORECAST PERIOD         47

FIGURE 11         MANUFACTURING INDUSTRY TO DOMINATE INDUSTRIAL IOT MARKET DURING FORECAST PERIOD         47

FIGURE 12         ASIA PACIFIC INDUSTRIAL IOT MARKET TO EXHIBIT HIGHEST GROWTH RATE DURING FORECAST PERIOD     48

4            PREMIUM INSIGHTS      49

4.1         ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN INDUSTRIAL IOT MARKET            49

FIGURE 13         GROWING DEMAND FROM MANUFACTURING SECTOR TO DRIVE GROWTH OF INDUSTRIAL IOT MARKET DURING FORECAST PERIOD              49

4.2         INDUSTRIAL IOT MARKET, BY OFFERING           50

FIGURE 14         HARDWARE SEGMENT TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL IOT MARKET DURING FORECAST PERIOD 50

4.3         INDUSTRIAL IOT MARKET IN ASIA PACIFIC, BY VERTICAL AND COUNTRY         50

FIGURE 15         CHINA TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL IOT MARKET IN  ASIA PACIFIC 50

4.4         INDUSTRIAL IOT MARKET, BY VERTICAL           51

FIGURE 16         MANUFACTURING SEGMENT TO DOMINATE INDUSTRIAL IOT MARKET            51

4.5         INDUSTRIAL IOT MARKET, BY COUNTRY           51

FIGURE 17         INDIA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD              51

5            MARKET OVERVIEW     52

5.1         INTRODUCTION            52

5.2         MARKET DYNAMICS     52

FIGURE 18         INDUSTRIAL IOT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,  AND CHALLENGES 52

5.2.1      DRIVERS            53

5.2.1.1   Global rise in internet penetration   53

FIGURE 19         GLOBAL INTERNET PENETRATION RATE TILL JANUARY 2024, BY REGION        53

5.2.1.2   Growing adoption of cloud platforms             54

5.2.1.3   Increasing adoption of IPv6             54

FIGURE 20         ADOPTION RATE OF IPV6, BY COUNTRY, 2023  55

5.2.1.4   Increased IoT-related government initiatives and R&D activities worldwide              55

5.2.1.5   Rise in demand for automation in industries  56

FIGURE 21         IMPACT OF DRIVERS ON INDUSTRIAL IOT MARKET      56

5.2.2      RESTRAINTS     57

5.2.2.1   Incompatibility of legacy equipment with communication networks         57

5.2.2.2   Lack of standardization in IoT protocols        57

FIGURE 22         IMPACT OF RESTRAINTS ON INDUSTRIAL IOT MARKET              58

5.2.3      OPPORTUNITIES           58

5.2.3.1   Emergence of 5G technology           58

5.2.3.2   Rise in demand for IoT-enabled digital transformation in businesses across verticals 58

5.2.3.3   Predictive maintenance of machinery            59

FIGURE 23         IMPACT OF OPPORTUNITIES ON INDUSTRIAL IOT MARKET              59

5.2.4      CHALLENGES   60

5.2.4.1   Susceptibility of IoT technologies to cyberattacks        60

5.2.4.2   Maintenance and updates of IIoT systems      60

5.2.4.3   Lack of skilled professionals             60

FIGURE 24         IMPACT OF CHALLENGES ON INDUSTRIAL IOT MARKET              61

5.3         TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS       61

FIGURE 25         TRENDS INFLUENCING INDUSTRIAL IOT BUSINESS OWNERS              61

5.4         PRICING ANALYSIS        62

TABLE 1             AVERAGE SELLING PRICE OF HARDWARE          62

FIGURE 26        AVERAGE SELLING PRICE TREND OF IOT NODE COMPONENTS, 2020–2029          62

5.5         VALUE CHAIN ANALYSIS            63

FIGURE 27         INDUSTRIAL IOT MARKET: VALUE CHAIN ANALYSIS     63

5.6         ECOSYSTEM ANALYSIS 64

TABLE 2             INDUSTRIAL IOT MARKET: ROLE OF PLAYERS IN ECOSYSTEM              64

5.7         INVESTMENT AND FUNDING SCENARIO            65

FIGURE 28         FUNDS ACQUIRED BY COMPANIES IN INDUSTRIAL IOT MARKET            65

5.8         TECHNOLOGY TRENDS             66

5.8.1      DIGITAL TWIN 66

5.8.2      CLOUD COMPUTING    66

5.8.3      5G         66

5.8.4      EDGE COMPUTING TECHNOLOGY        67

5.9         CASE STUDY ANALYSIS 68

5.9.1      BOSCH.IO HELPED HOLMER UTILIZE BOSCH IOT SUITE GAIN VALUABLE INSIGHTS INTO AGRICULTURE IOT DATA   68

5.9.2      PTC HELPED QUANT TRANSFORM ITS BUSINESS OF FACTORY SERVICES          69

5.9.3      MICROSOFT HELPED LEGRAND ACHIEVE SMART BUILDING INNOVATIONS WITH OPEN IOT              69

5.10       PATENT ANALYSIS        70

FIGURE 29         LG ELECTRONICS REGISTERED MAXIMUM PATENT APPLICATIONS  IN LAST 10 YEARS        70

TABLE 3             TOP 20 PATENT OWNERS IN LAST 10 YEARS (US)            70

FIGURE 30         NUMBER OF PATENTS GRANTED, 2013−2023    71

5.10.1    KEY PATENTS   72

TABLE 4             MAJOR PATENTS IN INDUSTRIAL IOT MARKET 72

5.11       TRADE ANALYSIS          75

5.11.1    IMPORT SCENARIO       75

FIGURE 31         IMPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 903190,  BY COUNTRY, 2019–2023 (USD THOUSAND)     75

5.11.2    EXPORT SCENARIO       76

FIGURE 32         EXPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 903190,  BY COUNTRY, 2019−2023 (USD THOUSAND)   76

5.12       TARIFF AND REGULATORY LANDSCAPE            76

5.12.1    TARIFF ANALYSIS          76

TABLE 5             MFN TARIFFS FOR HS CODE 903190-COMPLIANT PRODUCTS EXPORTED BY US           76

TABLE 6             MFN TARIFFS FOR HS CODE 903190-COMPLIANT PRODUCTS EXPORTED BY JAPAN    77

TABLE 7             MFN TARIFFS FOR HS CODE 903190-COMPLIANT PRODUCTS EXPORTED BY GERMANY          77

TABLE 8             MFN TARIFFS FOR HS CODE 903190-COMPLIANT PRODUCTS EXPORTED BY CHINA   77

5.12.2    REGULATORY LANDSCAPE       78

5.12.2.1 Regulatory bodies, government agencies, and other organizations            78

TABLE 9             NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         78

TABLE 10           EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 79

TABLE 11           ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         79

TABLE 12           ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS          80

5.13       KEY CONFERENCES AND EVENTS          81

TABLE 13           INDUSTRIAL IOT MARKET: CONFERENCES AND EVENTS, 2024–2025      81

5.14       PORTER’S FIVE FORCES ANALYSIS         82

TABLE 14           IMPACT OF PORTER’S FIVE FORCES ON INDUSTRIAL IOT MARKET            82

FIGURE 33         INDUSTRIAL IOT MARKET: PORTER’S FIVE FORCES ANALYSIS              82

5.14.1    INTENSITY OF COMPETITIVE RIVALRY 83

5.14.2    BARGAINING POWER OF SUPPLIERS     83

5.14.3    BARGAINING POWER OF BUYERS           83

5.14.4    THREAT OF SUBSTITUTES         83

5.14.5    THREAT OF NEW ENTRANTS    84

5.15       KEY STAKEHOLDERS AND BUYING CRITERIA    84

5.15.1    KEY STAKEHOLDERS IN BUYING PROCESS         84

FIGURE 34         INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS             84

TABLE 15           INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS             84

5.15.2    BUYING CRITERIA         85

FIGURE 35         KEY BUYING CRITERIA FOR TOP THREE VERTICALS     85

TABLE 16           KEY BUYING CRITERIA FOR TOP THREE VERTICALS     85

6            INDUSTRIAL IOT MARKET, BY DEPLOYMENT   86

6.1         INTRODUCTION            87

FIGURE 36         INDUSTRIAL IOT MARKET, BY DEPLOYMENT   87

FIGURE 37         CLOUD-BASED SEGMENT TO ACCOUNT FOR LARGER SHARE DURING  FORECAST PERIOD   87

TABLE 17           INDUSTRIAL IOT MARKET, BY DEPLOYMENT, 2020–2023 (USD BILLION)           88

TABLE 18           INDUSTRIAL IOT MARKET, BY DEPLOYMENT, 2024–2029 (USD BILLION)           88

6.2         ON-PREMISE     88

6.2.1      OFFERS HIGH DEGREE OF CONTROL AND CUSTOMIZATION    88

6.3         CLOUD-BASED 89

6.3.1      OFFERS SCALABILITY AND AGILITY FOR MODERN ENTERPRISES              89

7            INDUSTRIAL IOT MARKET, BY OFFERING           90

7.1         INTRODUCTION            91

FIGURE 38         INDUSTRIAL IOT MARKET, BY OFFERING           91

FIGURE 39         INDUSTRIAL IOT MARKET FOR HARDWARE TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD   91

TABLE 19           INDUSTRIAL IOT MARKET, BY OFFERING, 2020–2023 (USD BILLION)           92

TABLE 20           INDUSTRIAL IOT MARKET, BY OFFERING, 2024–2029 (USD BILLION)           92

7.2         HARDWARE      92

TABLE 21           INDUSTRIAL IOT MARKET, BY HARDWARE, 2020–2023 (USD BILLION)           93

TABLE 22           INDUSTRIAL IOT MARKET, BY HARDWARE, 2024–2029 (USD BILLION)           93

TABLE 23           INDUSTRIAL IOT MARKET, BY HARDWARE, 2020–2023 (MILLION UNITS)          93

TABLE 24           INDUSTRIAL IOT MARKET, BY HARDWARE, 2024–2029 (MILLION UNITS)          94

7.2.1      PROCESSORS    94

7.2.1.1   Companies’ efforts to develop low-power processing hardware for IoT devices to drive market        94

7.2.2      SENSORS           95

7.2.2.1   Software-defined sensors leading next wave of IIoT innovations to drive market              95

7.2.3      CONNECTIVITY IC         95

7.2.3.1   Increase in companies providing low-power wireless network connectivity designed for IIoT applications to drive market             95

7.2.4      MEMORY DEVICES        95

7.2.4.1   Increase in number of connected devices to drive market           95

7.2.5      LOGIC DEVICES             96

7.2.5.1   Faster experimentation and iteration during development phase to drive market              96

7.3         SOFTWARE       96

TABLE 25           INDUSTRIAL IOT MARKET, BY SOFTWARE, 2020–2023 (USD BILLION)           97

TABLE 26           INDUSTRIAL IOT MARKET, BY SOFTWARE, 2024–2029 (USD BILLION)           98

7.3.1      PRODUCT LIFECYCLE MANAGEMENT (PLM)    98

7.3.1.1   Effective development and installation of products to drive market          98

7.3.2      MANUFACTURING EXECUTION SYSTEMS (MES)             99

7.3.2.1   Reduction in operational costs and improved efficiency to drive market   99

7.3.3      SCADA 100

7.3.3.1   Maintenance and effective control of different industrial operations to drive market   100

7.3.4      OUTAGE MANAGEMENT SYSTEMS (OMS)          101

7.3.4.1   Effective management of power outages and improved response time to drive market   101

7.3.5      DISTRIBUTION MANAGEMENT SYSTEMS (DMS)             102

7.3.5.1   Effective management of electricity distribution networks to drive market              102

7.3.6      REMOTE PATIENT MONITORING           102

7.3.6.1   Reduced instances of hospitalizations, readmissions, and hospital stays to drive market   102

7.3.7      RETAIL MANAGEMENT SOFTWARE       103

7.3.7.1   Planning and redesigning of business strategies according to  prevailing market scenario to drive market     103

7.3.8      VISUALIZATION SOFTWARE     103

7.3.8.1   Use in engineering, architecture, manufacturing, and other complex domains to drive market        103

7.3.9      TRANSIT MANAGEMENT SYSTEMS        103

7.3.9.1   Use for tracking, controlling, and monitoring location of in-transit goods to drive market   103

7.3.10    FARM MANAGEMENT SYSTEMS 104

7.3.10.1 Increased use for precision farming to drive market     104

7.4         PLATFORMS     104

TABLE 27           INDUSTRIAL IOT MARKET, BY PLATFORMS, 2020–2023 (USD BILLION)           104

TABLE 28           INDUSTRIAL IOT MARKET, BY PLATFORMS, 2024–2029 (USD BILLION)           105

7.4.1      DEVICE MANAGEMENT PLATFORM      105

7.4.1.1   Rise in number of connected devices to drive growth   105

7.4.2      APPLICATION ENABLEMENT PLATFORM           105

7.4.2.1   Need to drive innovation and achieve operational excellence to propel market              105

7.4.3      CONNECTIVITY MANAGEMENT PLATFORM      106

7.4.3.1   Increased requirement for common platform to manage entire network to drive growth   106

7.4.4      SERVICES          106

7.4.4.1   Increased integration of third-party service providers across verticals to drive market   106

8            INDUSTRIAL IOT MARKET, BY VERTICAL           107

8.1         INTRODUCTION            108

FIGURE 40         INDUSTRIAL IOT MARKET, BY VERTICAL           108

FIGURE 41         INDUSTRIAL IOT MARKET FOR MANUFACTURING TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD   108

TABLE 29           INDUSTRIAL IOT MARKET, BY VERTICAL, 2020–2023 (USD BILLION)           109

TABLE 30           INDUSTRIAL IOT MARKET, BY VERTICAL, 2024–2029 (USD BILLION)           109

8.2         MANUFACTURING        110

TABLE 31          INDUSTRIAL IOT MARKET FOR MANUFACTURING, BY REGION, 2020–2023 (USD BILLION)           110

TABLE 32          INDUSTRIAL IOT MARKET FOR MANUFACTURING, BY REGION, 2024–2029 (USD BILLION)           111

8.3         ENERGY             111

8.3.1      REMOTE MONITORING OF PLANTS TO DRIVE GROWTH            111

TABLE 33           INDUSTRIAL IOT MARKET FOR ENERGY, BY REGION, 2020–2023 (USD BILLION) 112

TABLE 34           INDUSTRIAL IOT MARKET FOR ENERGY, BY REGION, 2024–2029 (USD BILLION) 112

8.3.2      SMART GRIDS   112

8.4         OIL & GAS          113

8.4.1      INCREASING OPERATIONAL EFFICIENCY TO DRIVE GROWTH  113

TABLE 35           INDUSTRIAL IOT MARKET FOR OIL & GAS, BY REGION, 2020–2023 (USD BILLION)      114

TABLE 36           INDUSTRIAL IOT MARKET FOR OIL & GAS, BY REGION, 2024–2029 (USD BILLION)      114

8.5         METALS & MINING        114

8.5.1      INCREASING WORKPLACE SAFETY TO DRIVE GROWTH 114

TABLE 37          INDUSTRIAL IOT MARKET FOR METALS & MINING, BY REGION, 2020–2023 (USD BILLION)           115

TABLE 38          INDUSTRIAL IOT MARKET FOR METALS & MINING, BY REGION, 2024–2029 (USD BILLION)           115

8.6         HEALTHCARE  115

8.6.1      REMOTE PATIENT MONITORING TO DRIVE GROWTH  115

TABLE 39           INDUSTRIAL IOT MARKET FOR HEALTHCARE, BY REGION, 2020–2023 (USD MILLION)          116

TABLE 40           INDUSTRIAL IOT MARKET FOR HEALTHCARE, BY REGION, 2024–2029 (USD MILLION)          116

8.7         RETAIL 117

8.7.1      CHANGING CUSTOMER REQUIREMENTS TO DRIVE DEMAND   117

8.7.2      POINT-OF-SALES (POS) 117

8.7.3      INTERACTIVE KIOSKS   118

8.7.4      SELF-CHECKOUT SYSTEMS       118

TABLE 41           INDUSTRIAL IOT MARKET FOR RETAIL, BY REGION, 2020–2023 (USD BILLION) 118

TABLE 42           INDUSTRIAL IOT MARKET FOR RETAIL, BY REGION, 2024–2029 (USD BILLION) 118

8.8         TRANSPORTATION       119

8.8.1      INCREASING DEMAND FOR SMART SURVEILLANCE, INTELLIGENT SIGNALING SYSTEMS, AND REAL-TIME TRAFFIC ANALYTICS TO DRIVE GROWTH          119

8.8.2      INTELLIGENT SIGNALING SYSTEMS      119

8.8.3      VIDEO ANALYTICS        119

8.8.4      INCIDENT DETECTION SYSTEMS           119

8.8.5      ROUTE SCHEDULING GUIDANCE SYSTEMS       120

TABLE 43           INDUSTRIAL IOT MARKET FOR TRANSPORTATION, BY REGION, 2020–2023 (USD MILLION)       120

TABLE 44           INDUSTRIAL IOT MARKET FOR TRANSPORTATION, BY REGION, 2024–2029 (USD MILLION)       120

8.9         AGRICULTURE 120

8.9.1      GROWING ADOPTION OF PRECISION FARMING TO DRIVE MARKET              120

8.9.2      PRECISION FARMING    121

8.9.3      LIVESTOCK MONITORING         121

8.9.4      SMART GREENHOUSES 121

8.9.5      FISH FARMING 122

TABLE 45           INDUSTRIAL IOT MARKET FOR AGRICULTURE, BY REGION, 2020–2023 (USD MILLION)          122

TABLE 46           INDUSTRIAL IOT MARKET FOR AGRICULTURE, BY REGION, 2024–2029 (USD MILLION)          122

9            INDUSTRIAL IOT MARKET, BY CONNECTIVITY TECHNOLOGY 124

9.1         INTRODUCTION            125

FIGURE 42         INDUSTRIAL IOT MARKET, BY CONNECTIVITY TECHNOLOGY              125

FIGURE 43         WIRELESS CONNECTIVITY TECHNOLOGY TO ACCOUNT FOR LARGER SHARE DURING FORECAST PERIOD     125

TABLE 47           INDUSTRIAL IOT MARKET, BY CONNECTIVITY TECHNOLOGY, 2020–2023 (USD BILLION)           126

TABLE 48           INDUSTRIAL IOT MARKET, BY CONNECTIVITY TECHNOLOGY, 2024–2029 (USD BILLION)           126

9.2         WIRED 126

9.2.1      ETHERNET       126

9.2.1.1   Increasing adoption of industrial ethernet to drive market          126

9.2.1.2   Modbus 127

9.2.1.3   PROFINET         127

9.2.1.4   CC-Link 128

9.2.2      FOUNDATION FIELDBUS           128

9.2.2.1   Enhanced communication and integration to drive market         128

9.3         WIRELESS TECHNOLOGIES       128

9.3.1      WI-FI    128

9.3.1.1   Growing consumption of high-bandwidth content and services to drive market              128

9.3.2      BLUETOOTH    129

9.3.2.1   Used for exchanging data on smartphones, laptops, and tablets  129

9.3.3      CELLULAR TECHNOLOGIES      129

9.3.3.1   Low energy consumption to drive market       129

9.3.3.2   4G/LTE 130

9.3.3.3   5G         130

9.3.4      SATELLITE TECHNOLOGIES     131

9.3.4.1   Cost-effective maritime communication to drive market            131

10          INDUSTRIAL IOT MARKET, BY REGION 132

10.1       INTRODUCTION            133

FIGURE 44         INDUSTRIAL IOT MARKET, BY REGION 133

FIGURE 45         ASIA PACIFIC MARKET TO RECORD HIGHEST CAGR DURING FORECAST PERIOD       133

TABLE 49           INDUSTRIAL IOT MARKET, BY REGION, 2020–2023 (USD BILLION)           134

TABLE 50           INDUSTRIAL IOT MARKET, BY REGION, 2024–2029 (USD BILLION)           134

10.2       NORTH AMERICA          134

FIGURE 46         NORTH AMERICA: INDUSTRIAL IOT MARKET SNAPSHOT              135

TABLE 51           NORTH AMERICA: INDUSTRIAL IOT MARKET, BY VERTICAL, 2020–2023 (USD BILLION)           136

TABLE 52           NORTH AMERICA: INDUSTRIAL IOT MARKET, BY VERTICAL, 2024–2029 (USD BILLION)           136

TABLE 53           NORTH AMERICA: INDUSTRIAL IOT MARKET, BY COUNTRY, 2020–2023 (USD BILLION)           136

TABLE 54           NORTH AMERICA: INDUSTRIAL IOT MARKET, BY COUNTRY, 2024–2029 (USD BILLION)           137

10.2.1    RECESSION IMPACT      137

FIGURE 47         ANALYSIS OF INDUSTRIAL IOT MARKET IN NORTH AMERICA: PRE- AND POST-RECESSION SCENARIOS            138

10.2.2    US         138

10.2.2.1 Presence of major IoT solution providers and significant government support to drive market        138

10.2.3    CANADA            139

10.2.3.1 Increasing investments in development and adoption of IoT technologies to drive market   139

10.2.4    MEXICO             139

10.2.4.1 Rising preference for new technologies in manufacturing sector to drive market              139

10.3       EUROPE             140

FIGURE 48         EUROPE: INDUSTRIAL IOT MARKET SNAPSHOT             141

TABLE 55           EUROPE: INDUSTRIAL IOT MARKET, BY VERTICAL, 2020–2023 (USD BILLION) 141

TABLE 56           EUROPE: INDUSTRIAL IOT MARKET, BY VERTICAL, 2024–2029 (USD BILLION) 142

TABLE 57           EUROPE: INDUSTRIAL IOT MARKET, BY COUNTRY, 2020–2023 (USD BILLION) 142

TABLE 58           EUROPE: INDUSTRIAL IOT MARKET, BY COUNTRY, 2024–2029 (USD BILLION) 142

10.3.1    RECESSION IMPACT      143

FIGURE 49         ANALYSIS OF INDUSTRIAL IOT MARKET IN EUROPE: PRE- AND POST-RECESSION SCENARIOS  143

10.3.2    UK         143

10.3.2.1 Increasing adoption of IoT solutions in energy vertical to drive market    143

10.3.3    GERMANY         144

10.3.3.1 Surge in deployment of IoT technology in automotive sector to drive market              144

10.3.4    FRANCE             145

10.3.4.1 Growing adoption of smart manufacturing to drive market        145

10.3.5    REST OF EUROPE           145

10.4       ASIA PACIFIC    146

FIGURE 50         ASIA PACIFIC: INDUSTRIAL IOT MARKET SNAPSHOT    146

TABLE 59           ASIA PACIFIC: INDUSTRIAL IOT MARKET, BY VERTICAL, 2020–2023 (USD BILLION)      147

TABLE 60           ASIA PACIFIC: INDUSTRIAL IOT MARKET, BY VERTICAL, 2024–2029 (USD BILLION)      147

TABLE 61           ASIA PACIFIC: INDUSTRIAL IOT MARKET, BY COUNTRY, 2020–2023 (USD BILLION)      147

TABLE 62           ASIA PACIFIC: INDUSTRIAL IOT MARKET, BY COUNTRY, 2024–2029 (USD BILLION)      148

10.4.1    RECESSION IMPACT      148

FIGURE 51         ANALYSIS OF INDUSTRIAL IOT MARKET IN ASIA PACIFIC: PRE- AND POST-RECESSION SCENARIOS       149

10.4.2    CHINA  149

10.4.2.1 Government’s robust financial and strategic involvement in R&D to drive market              149

10.4.3    JAPAN  150

10.4.3.1 Increased productivity and optimization to drive market            150

10.4.4    INDIA   150

10.4.4.1 Large-scale industrial development to drive market      150

10.4.5    SOUTH KOREA 151

10.4.5.1 Growing R&D in IoT technologies to drive market      151

10.4.6    REST OF ASIA PACIFIC  151

10.5       ROW     151

TABLE 63           ROW: INDUSTRIAL IOT MARKET, BY VERTICAL, 2020–2023 (USD MILLION)          152

TABLE 64           ROW: INDUSTRIAL IOT MARKET, BY VERTICAL, 2024–2029 (USD MILLION)          152

TABLE 65           ROW: INDUSTRIAL IOT MARKET, BY COUNTRY, 2020–2023 (USD BILLION) 152

TABLE 66           ROW: INDUSTRIAL IOT MARKET, BY COUNTRY, 2024–2029 (USD BILLION) 153

10.5.1    RECESSION IMPACT      153

FIGURE 52         ANALYSIS OF INDUSTRIAL IOT MARKET IN ROW: PRE- AND POST-RECESSION SCENARIOS  153

10.5.2    SOUTH AMERICA           154

10.5.2.1 Increasing focus on connectivity and networking technologies to drive market              154

10.5.3    GCC COUNTRIES           154

10.5.3.1 Rising collaborations between GCC and semiconductor companies to drive market              154

10.5.4    AFRICA & REST OF MIDDLE EAST           154

10.5.4.1 Rising demand for industrial IoT solutions from oil & gas vertical to drive market              154

11          COMPETITIVE LANDSCAPE       156

11.1       STRATEGIES ADOPTED BY KEY PLAYERS/RIGHT TO WIN           156

TABLE 67           OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN INDUSTRIAL IOT MARKET         156

11.2       REVENUE ANALYSIS OF TOP FIVE PLAYERS       160

FIGURE 53         REVENUE ANALYSIS OF TOP MARKET PLAYERS, 2021–2023              160

11.3       MARKET SHARE ANALYSIS         160

TABLE 68           INDUSTRIAL IOT MARKET: DEGREE OF COMPETITION 161

TABLE 69           INDUSTRIAL IOT MARKET: RANKING ANALYSIS             161

FIGURE 54         MARKET SHARE ANALYSIS OF KEY PLAYERS, 2023          162

11.4       COMPANY VALUATION AND FINANCIAL METRICS        164

FIGURE 55         VALUATION AND FINANCIAL MATRIX OF KEY PLAYERS IN INDUSTRIAL IOT MARKET         164

FIGURE 56         ENTERPRISE VALUE/EBITDA OF KEY PLAYERS 164

11.5       BRAND/PRODUCT COMPARISON          165

11.5.1    INDUSTRIAL IOT MARKET: TOP TRENDING BRANDS/PRODUCTS              165

11.6       COMPANY EVALUATION MATRIX          166

11.6.1    STARS  166

11.6.2    EMERGING LEADERS    166

11.6.3    PERVASIVE PLAYERS     166

11.6.4    PARTICIPANTS 166

FIGURE 57         INDUSTRIAL IOT MARKET: COMPANY EVALUATION MATRIX, 2023      167

11.6.5    COMPANY FOOTPRINT 168

11.6.5.1 Offering footprint 168

TABLE 70           INDUSTRIAL IOT MARKET: OFFERING FOOTPRINT       168

11.6.5.2 Connectivity technology footprint    169

TABLE 71           INDUSTRIAL IOT MARKET: COMPANY CONNECTIVITY TECHNOLOGY FOOTPRINT      169

11.6.5.3 Deployment footprint        170

TABLE 72           INDUSTRIAL IOT MARKET: COMPANY DEPLOYMENT FOOTPRINT      170

11.6.5.4 Vertical footprint 171

TABLE 73           INDUSTRIAL IOT MARKET: VERTICAL FOOTPRINT        171

11.6.5.5 Region footprint  172

TABLE 74           INDUSTRIAL IOT MARKET: REGION FOOTPRINT            172

11.6.5.6 Overall footprint  174

FIGURE 58         INDUSTRIAL IOT MARKET: OVERALL FOOTPRINT         174

11.7       STARTUP/SME EVALUATION MATRIX   175

11.7.1    PROGRESSIVE COMPANIES       175

11.7.2    RESPONSIVE COMPANIES          175

11.7.3    DYNAMIC COMPANIES 175

11.7.4    STARTING BLOCKS       175

FIGURE 59         INDUSTRIAL IOT MARKET: STARTUP/SME EVALUATION MATRIX, 2023    176

11.7.5    COMPETITIVE BENCHMARKING            177

TABLE 75           INDUSTRIAL IOT MARKET: KEY STARTUPS/SMES           177

TABLE 76           INDUSTRIAL IOT MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES           177

11.8       COMPETITIVE SCENARIO          178

11.8.1    PRODUCT LAUNCHES  178

TABLE 77           INDUSTRIAL IOT MARKET: PRODUCT LAUNCHES, JULY 2022–MARCH 2024     178

11.8.2    DEALS  179

TABLE 78           INDUSTRIAL IOT MARKET: DEALS, JULY 2022–MARCH 2024              179

12          COMPANY PROFILES    181

(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) *

12.1       INTRODUCTION            181

12.2       KEY PLAYERS   181

12.2.1    HUAWEI TECHNOLOGIES CO., LTD.      181

TABLE 79           HUAWEI TECHNOLOGIES CO., LTD.: COMPANY OVERVIEW              181

FIGURE 60         HUAWEI TECHNOLOGIES CO., LTD.: COMPANY SNAPSHOT              182

TABLE 80           HUAWEI TECHNOLOGIES CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED   182

TABLE 81           HUAWEI TECHNOLOGIES CO., LTD.: PRODUCT LAUNCHES, JULY 2022–MARCH 2024 183

TABLE 82           HUAWEI TECHNOLOGIES CO., LTD.: DEALS, JULY 2022–MARCH 2024      184

12.2.2    CISCO SYSTEMS, INC.    186

TABLE 83           CISCO SYSTEMS, INC.: COMPANY OVERVIEW    186

FIGURE 61         CISCO SYSTEMS, INC.: COMPANY SNAPSHOT    187

TABLE 84           CISCO SYSTEMS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED          187

TABLE 85           CISCO SYSTEMS, INC.: PRODUCT LAUNCHES, JULY 2022–MARCH 2024     189

TABLE 86           CISCO SYSTEMS, INC.: DEALS, JULY 2022–MARCH 2024   190

TABLE 87           CISCO SYSTEMS, INC.: OTHER DEVELOPMENTS, JULY 2022–MARCH 2024     190

12.2.3    ABB       192

TABLE 88           ABB: COMPANY OVERVIEW       192

FIGURE 62         ABB: COMPANY SNAPSHOT       193

TABLE 89           ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED        193

TABLE 90           ABB: DEALS, JULY 2022–MARCH 2024     194

12.2.4    SIEMENS            197

TABLE 91           SIEMENS: COMPANY OVERVIEW            197

FIGURE 63         SIEMENS: COMPANY SNAPSHOT            198

TABLE 92           SIEMENS: PRODUCTS/SOLUTIONS/SERVICES OFFERED              198

TABLE 93           SIEMENS: PRODUCT LAUNCHES, JULY 2022–MARCH 2024              199

TABLE 94           SIEMENS: DEALS, JULY 2022–MARCH 2024           199

TABLE 95           SIEMENS: EXPANSIONS, JULY 2022–MARCH 2024 200

12.2.5    INTEL CORPORATION  202

TABLE 96           INTEL CORPORATION: COMPANY OVERVIEW  202

FIGURE 64         INTEL CORPORATION: COMPANY SNAPSHOT  203

TABLE 97           INTEL CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED          203

TABLE 98           INTEL CORPORATION: EXPANSIONS, JULY 2022–MARCH 2024              204

12.2.6    GENERAL ELECTRIC     206

TABLE 99           GENERAL ELECTRIC: COMPANY OVERVIEW      206

FIGURE 65         GENERAL ELECTRIC: COMPANY SNAPSHOT      207

TABLE 100         GENERAL ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED          207

TABLE 101         GENERAL ELECTRIC: PRODUCT LAUNCHES, JULY 2022–MARCH 2024     208

TABLE 102         GENERAL ELECTRIC: OTHER DEVELOPMENTS, JULY 2022–MARCH 2024     209

12.2.7    EMERSON ELECTRIC CO.           210

TABLE 103         EMERSON ELECTRIC CO.: COMPANY OVERVIEW            210

FIGURE 66         EMERSON ELECTRIC CO.: COMPANY SNAPSHOT            211

TABLE 104         EMERSON ELECTRIC CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED          211

TABLE 105         EMERSON ELECTRIC CO.: PRODUCT LAUNCHES, JULY 2022–MARCH 2024     212

TABLE 106         EMERSON ELECTRIC CO.: DEALS, JULY 2022–MARCH 2024              212

TABLE 107         EMERSON ELECTRIC CO.: OTHER DEVELOPMENTS, JULY 2022–MARCH 2024     213

12.2.8    SAP SE  214

TABLE 108         SAP SE: COMPANY OVERVIEW  214

FIGURE 67         SAP SE: COMPANY SNAPSHOT  215

TABLE 109         SAP SE: PRODUCTS/SOLUTIONS/SERVICES OFFERED   215

12.2.9    HONEYWELL INTERNATIONAL INC.      217

TABLE 110         HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW              217

FIGURE 68         HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT              218

TABLE 111         HONEYWELL INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED   218

TABLE 112         HONEYWELL INTERNATIONAL INC.: DEALS, JULY 2022–MARCH 2024     219

12.2.10  ROCKWELL AUTOMATION        220

TABLE 113         ROCKWELL AUTOMATION: COMPANY OVERVIEW        220

FIGURE 69         ROCKWELL AUTOMATION: COMPANY SNAPSHOT        221

TABLE 114         ROCKWELL AUTOMATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED   221

TABLE 115         ROCKWELL AUTOMATION: PRODUCT LAUNCHES, JULY 2022–MARCH 2024     222

TABLE 116         ROCKWELL AUTOMATION: DEALS, JULY 2022–MARCH 2024              222

TABLE 117         ROCKWELL AUTOMATION: EXPANSIONS, JULY 2022–MARCH 2024      223

12.3       OTHER PLAYERS           224

12.3.1    ARM LIMITED   224

TABLE 118         ARM LIMITED: COMPANY OVERVIEW   224

12.3.2    PTC      225

TABLE 119         PTC: COMPANY OVERVIEW       225

12.3.3    DASSAULT SYSTEMES   226

TABLE 120         DASSAULT SYSTEMES: COMPANY OVERVIEW   226

12.3.4    IBM       227

TABLE 121         IBM: COMPANY OVERVIEW       227

12.3.5    ROBERT BOSCH GMBH 228

TABLE 122         ROBERT BOSCH GMBH: COMPANY OVERVIEW 228

12.3.6    NEC CORPORATION     229

TABLE 123         NEC CORPORATION: COMPANY OVERVIEW      229

12.3.7    ANSYS, INC        230

TABLE 124         ANSYS, INC: COMPANY OVERVIEW        230

12.3.8    WORLDSENSING            231

TABLE 125         WORLDSENSING: COMPANY OVERVIEW            231

12.3.9    ARUNDO           231

TABLE 126         ARUNDO: COMPANY OVERVIEW            231

12.3.10  SOFTWARE AG 232

TABLE 127         SOFTWARE AG: COMPANY OVERVIEW  232

12.3.11  TEXAS INSTRUMENTS INCORPORATED 233

TABLE 128         TEXAS INSTRUMENTS INCORPORATED: COMPANY OVERVIEW              233

12.3.12  KUKA AG           234

TABLE 129         KUKA AG: COMPANY OVERVIEW            234

12.3.13  DRAGOS, INC.   235

TABLE 130         DRAGOS, INC.: COMPANY OVERVIEW   235

12.3.14  GOOGLE LLC   235

TABLE 131         GOOGLE LLC: COMPANY OVERVIEW    235

12.3.15  MICROSOFT CORPORATION     236

TABLE 132         MICROSOFT CORPORATION: COMPANY OVERVIEW     236

*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.

13          APPENDIX         237

13.1       DISCUSSION GUIDE      237

13.2       KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL             240

13.3       CUSTOMIZATION OPTIONS      242

13.4       RELATED REPORTS       242

13.5       AUTHOR DETAILS         243