Latest News- Industrial Internet Of Things (IoT) Market: Manufacturing is expected to lead the End-user segment during 2025-2029

The Industrial Internet Of Things (IoT) Market is being driven by Growth in industrial automation

The Industrial Internet Of Things (IoT) Market is expected to grow at a CAGR of 14.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 195.8 billion. In the dynamic landscape of the Industrial Internet of Things (IoT) market, companies are focusing on implementing global device managers to simplify interoperability complexities. These managers empower Original Equipment Manufacturers (OEMs) and system integrators to effectively monitor and manage their dispersed IoT device installations in real time. By integrating global device managers with industrial IoT systems, end-users reap several advantages: OEMs and system integrators can efficiently manage their global device installations from a single platform, eliminating the need for learning additional programming languages or addressing interoperability issues. Furthermore, these managers offer customizable, multi-dimensional features, enabling the creation of tailored portals to cater to specific business requirements. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Manufacturing
  • Automotive and transportation
  • Energy and utilities
  • Healthcare
  • Others
• Component
  • Hardware
  • Software
  • Services
  • Platforms
• Connectivity
  • Wired
  • Wireless
• Deployment
  • On-cloud
  • On-premises
• Organization Size
  • Large Enterprises
  • Small and Medium Enterprises (SMEs)
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growth in industrial automation
• Growing importance of data-driven business outcomes in the industrial sector
• Increasing focus on providing end-to-end services

However, the market also witnesses some limitations, which are as follows:

• Lack of awareness of efficient management of IoT initiatives and investments
• Increasing cybersecurity threats
• High cost of implementation of IoT and its security

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Market Scope in Industrial Internet Of Things (IoT) Market Research Report

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Research Analysis Overview

The Industrial Internet of Things (IoT) market encompasses connected devices, utilizing industrial protocols for communication. Data streaming platforms facilitate real-time data processing, while time series databases ensure efficient data storage. Data preprocessing techniques and model training pipelines enable advanced analytics, including predictive and prescriptive analytics. Performance monitoring tools ensure system reliability, and security incident response safeguards against cyber threats. Network infrastructure, user interface design, and remote control systems enhance operational efficiency. Industrial robots and process automation drive production yield improvement and cost reduction. Data quality assessment, risk management strategies, and compliance standards ensure data accuracy and security. Performance benchmarks and cost reduction strategies optimize logistics and inventory management. Smart factories leverage IoT technologies for real-time production monitoring and optimization. Business intelligence tools provide actionable insights, and SLAs ensure service reliability.

Market Research Overview

The Industrial Internet of Things (IoT) market encompasses businesses specializing in IoT sensors, data acquisition systems, edge computing devices, and cloud platform integration. These companies contribute to the broader IT services sector, which includes IT consulting and system integration, application services, electronic data processing, business process outsourcing, infrastructure services, and Internet services. The IoT market specifically falls under the Internet services and infrastructure category, which also includes data centers, cloud networking and storage infrastructure, hosting services, IT security services, and cloud computing services. The market size is determined by the combined revenue generated by these companies providing various Internet-related services and infrastructure solutions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/