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Industrial IoT Market Statistics 2021 Industry Demand, Share Evaluation, Prominent Players Strategies, Size, SWOT Analysis, Forthcoming s, Upcoming Investments and Forecast 2027


Industrial IoT market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Industrial IoT market by region.

Industrial IOT or IIOT can be explained as the use of internet of things and their technologies in the manufacturing industries to achieve a higher level of efficiency and maximize the quality of products and minimize wastage of resources. Growth in the Cloud Computing and IoT are contributing to the growth of industrial IoT deployments and creating opportunities for new business models of the companies. Various major organizations are planning to practice Industrial IoT to improve the manufacturing process, enhance the business process, business strategy to enhance future business growth.

The global industrial IoT market is expected to reach approximately USD 751.3 billion by 2023, registering a CAGR of 23.88% during the forecast period.

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According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

The market has been divided into various segments based on component, deployment, connectivity and end-user.

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By component, the market is segmented into hardware, software and services. Hardware segment is further segmented into sensors & RFIDs, industrial robotics, camera systems, smart meters, 3D printing, flow and application control devices, distributed control systems and others. The software segment is further classified into MES or manufacturing execution, PLM systems or product lifecycle management system, SCADA system, DMS or distributed management system, retail management software and others. Amongst the hardware, software and services, hardware is expected to dominate the market due to the increasing number of connected devices and increasing application areas of hardware components in the various industrial applications. However, the software segment is growing with a fastest CAGR of 25.65% during the forecast due to the need of industrial process management and obtaining business insights by processing huge data volumes.

By deployment, the market is classified into on-cloud, on-premise and hybrid deployment. The on-cloud segment is expected to show significant growth due to factors such as easy accessibility to the data or information, easy resource sharing, low operational cost, and growing application areas across various industry verticals. However, the hybrid segment is growing with a fastest CAGR of 26.26% during the forecast period, as it delivers combined feature of on-cloud as well as on-premise deployment with additional data or information security capabilities.

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By connectivity, the market is classified into wired and wireless connectivity. The wired connectivity segment is expected to show significant growth owing to the need of ownership model and reliable connectivity for data transfer. However, the wireless security market is growing with a higher CAGR of 26.12% due to increasing demand of advanced wireless solutions such as Wi-Fi, ZigBee, Bluetooth among others which rapidly boosts the industrial IoT market.

By end-user, the market is classified into IT & telecommunication, manufacturing, healthcare, retail, oil & gas, energy & power, automotive, and others. The manufacturing segment is expected to show significant growth with a fastest CAGR of 27.94% during the forecast period as it is the largest consumer of industrial IoT solutions. Introduction of smart manufacturing & industry 4.0 is further helping the market growth.

Key Players

The key players of industrial IoT market include General Electric Company (US), Siemens AG (Germany), Cisco Systems (US), IBM Corporation (US), Rockwell Automation, Inc. (US), AT &T Inc. (US), Accenture Plc (Ireland), Huawei Technologies Co. Ltd (China), Robert Bosch GmbH (Germany), and Intel Corporation (US).

Global Industrial IoT Market Analysis & Forecast, from 2017 to 2023
> To provide a detailed analysis of the market structure along with a forecast of the various segments and sub-segments of the global industrial IoT market
> To provide insights into the factors affecting market growth
> To analyze the industrial IoT market based on supply chain and Porter’s five force analysis
> To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries?North America, Europe, Asia-Pacific, and the rest of the world
> To provide country-level analysis of the market with respect to the current market size and future perspective
> To provide country-level analysis of the market for a segment on the basis of component, deployment, connectivity, end-user, and region
> To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
> To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the industrial IoT market

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Target Audience

> Semiconductor component manufacturers
> Research organizations
> Original equipment manufacturers
> System Integrators
> Technical universities
> Technology investors
> Government Organizations
> Research/Consultancy firms
> Industrial Automation Equipment Provides
> Wireless and Wired connectivity providers
> Cloud Solutions Providers

Key Findings

> The global industrial IoT market is expected to reach USD 751.3 billion by 2023
> By component, the hardware segment dominated the market, generating the highest revenue of USD 89.0 billion in 2017. Whereas, the software segment is projected to be the leading market in the future, registering a 25.65% CAGR during the forecast period.
> By deployment, the on-cloud segment dominated the market, generating the highest revenue of USD 98.7 billion in 2017. Whereas, the hybrid cloud segment is projected to be the leading market in the future, registering a 26.26% CAGR during the forecast period.
> By connectivity, the wired connectivity segment led the market by generating a higher revenue of USD 120.7 billion in 2017. Whereas, the wireless connectivity segment is expected to register the highest CAGR of 26.12% in the forecast period.
> By end-user, the manufacturing segment led the market by generating a highest revenue of USD 50.6 billion in 2017 and is expected to register the highest CAGR of 27.94% during the forecast period.
> Geographically, Asia-Pacific has been projected to hold the largest market share in the global industrial IoT market, followed by North America.
Regional and Country Analysis of industrial IoT Market Estimation and Forecast

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Geographically, Asia-Pacific is dominating the global industrial IoT market. It is also the fastest growing market, accounting for 38.63% of the overall market share. Significant contribution is witnessed from China, Japan, South Korea and Australia. High presence of industries and increasing adoption of heavy automation and industrialization to connect various industrial processes with the internet are the factors driving the market growth in the region. North America is following Asia-Pacific in the industrial IoT market. Growth in IoT technology and high adoption of cloud computing for industrial processes in the US and Canada is driving the market growth in the region.
The report on the industrial IoT also covers the following country-level analysis:
> North America
o US
o Canada
> Europe
o Germany
o UK
o France
o Italy
o The Netherlands
o Sweden
o Rest of Europe
> Asia-Pacific
o China
o Japan
o South Korea
o India
o Taiwan
o Australia
o Rest of Asia-Pacific
> Rest of the World

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Our market research provides vital intelligence on market size, business trends, industry structure, market share, and market forecasts that are essential to developing business plans and strategy.

A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021

Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.

The Study Explore COVID 19 Outbreak Impact Analysis

What should be entry strategies, countermeasures to economic impact, and marketing channels? What are market dynamics? What are challenges and opportunities? What is economic impact on market? What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?

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Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis

The study objectives of this report are:

To study and analyze the global market size (value & volume) by company, key regions/countries, products and application, history data, and forecast to 2025. To understand the structure of market by identifying its various subsegments. To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks). Focuses on the key global manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years. To analyze the growth trends, future prospects, and their contribution to the total market. To project the value and volume of submarkets, with respect to key regions (along with their respective key countries). To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market. To strategically profile the key players and comprehensively analyze their growth strategies.

Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.

Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam

In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.

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What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes. During the forecast period, the report analyzes the growth rate, market size, and market valuation. The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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