Product Code: PM1092
The global industrial IoT market size is expected to reach USD 2,580.89 billion by 2032, according to a new study by Polaris Market Research. The report "Industrial IoT Market Share, Size, Trends, Industry Analysis Report, By Deployment (On-premises and Cloud); By Component; By End-use; By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The industrial Internet of Things (IIoT) market is experiencing remarkable growth driven by several factors. First, the availability of affordable processors and sensors that provide real-time access to information, combined with technological advancements, is expanding the market. This enables industries to enhance operational efficiency and foster collaboration among stakeholders, further fueling growth. Additionally, the convergence of digital and human workforces presents significant opportunities, as the integration of their strengths boosts productivity and innovation.
The advantages offered by IIoT solutions, such as automated quality assurance monitoring, improved power efficiency, increased productivity, and enhanced operational efficiency in the manufacturing industry, attract industries to adopt these technologies. Cost reduction, worker safety, and increased throughput are additional benefits that drive market expansion. Moreover, the growing adoption of IoT in various sectors, supported by advancements in wireless network technologies and the development of smart cities and transportation systems, further drives the demand for IIoT solutions.
Integrating sophisticated analytics and technologies like Machine Learning (ML) and Artificial Intelligence (AI) empowers organizations to provide prescriptive and predictive analytical solutions. ML and AI enable continuous learning processes, making them valuable tools in the IIoT market and driving its growth. Lastly, the adoption of edge computing, which enables independent analysis and data management for IoT devices, ensures low latency and quick response times. This enhances decision-making and overall operational efficiency, contributing to the market's expansion.
Industrial IoT Market Report Highlights
The solution segment had the largest market share in 2022 and is expected to maintain its dominance through innovative sector-specific information systems.
The manufacturing segment had the largest market share in 2022 and is expected to lead due to the adoption of IIoT, Industry 4.0, and digital manufacturing technologies, driving operational optimization and cost reduction.
North America's early adoption of industrial IoT technology, strong government support, and advanced technology usage will drive its continued market dominance.
The global key market players include: ABB, Atmel Corporation, ARM Holding Plc, Cisco Systems, Inc., International Business Machines Corporation (IBM), General Electric Company (GE), Intel Corporation, Siemens AG, Microsoft Corporation, Rockwell Automation, Inc.
Polaris Market Research has segmented the Industrial IoT market report based on deployment, component, end-use, and region:
Industrial IoT, Deployment Outlook (Revenue - USD Billion, 2019 - 2032)
- Observational Trials
- Interventional Trials
- Expanded Access Trials
Industrial IoT, Component Outlook (Revenue - USD Billion, 2019 - 2032)
- Services
- Managed
- Professional
- Solution
- Data Management
- Security Solutions
- Remote Monitoring
- Analytics
- Others
- Platform
- Application management
- Device Management
- Connectivity Management
Industrial IoT, End-use Outlook (Revenue - USD Billion, 2019 - 2032)
- Chemical
- Metal & Mining
- Oil & Gas
- Energy & Power
- Manufacturing
- Healthcare
- Agriculture
- Logistics & Transport
- Others
Industrial IoT, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Industrial IoT (IIoT) Market Insights
- 4.1. Industrial IoT (IIoT) Market - End-use Snapshot
- 4.2. Industrial IoT (IIoT) Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. increasing adoption in cloud computing
- 4.2.1.2. Increasing demand for IoT
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Privacy & Security Issues
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Industrial IoT (IIoT) Market End-use Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Industrial IoT (IIoT) Market, by Deployment
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 5.3. On-premises
- 5.3.1. Global Industrial IoT (IIoT) Market, by On-premises, by Region, 2019-2032 (USD Billion)
- 5.4. Cloud
- 5.4.1. Global Industrial IoT (IIoT) Market, by Cloud, by Region, 2019-2032 (USD Billion)
6. Global Industrial IoT (IIoT) Market, by Component
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 6.3. Services
- 6.3.1. Global Industrial IoT (IIoT) Market, by Services, by Region, 2019-2032 (USD Billion)
- 6.3.2. Managed
- 6.3.2.1. Global Industrial IoT (IIoT) Market, by Managed, by Region, 2019-2032 (USD Billion)
- 6.3.3. Professional
- 6.3.3.1. Global Industrial IoT (IIoT) Market, by Professional, by Region, 2019-2032 (USD Billion)
- 6.4. Solution
- 6.4.1. Global Industrial IoT (IIoT) Market, by Solution, by Region, 2019-2032 (USD Billion)
- 6.4.2. Data Management
- 6.4.2.1. Global Industrial IoT (IIoT) Market, by Data Management, by Region, 2019-2032 (USD Billion)
- 6.4.3. Security Solutions
- 6.4.3.1. Global Industrial IoT (IIoT) Market, by Security Solutions, by Region, 2019-2032 (USD Billion)
- 6.4.4. Remote Monitoring
- 6.4.4.1. Global Industrial IoT (IIoT) Market, by Remote Monitoring, by Region, 2019-2032 (USD Billion)
- 6.4.5. Analytics
- 6.4.5.1. Global Industrial IoT (IIoT) Market, by Analytics, by Region, 2019-2032 (USD Billion)
- 6.4.6. Solution
- 6.4.6.1. Global Industrial IoT (IIoT) Market, by Solution, by Region, 2019-2032 (USD Billion)
- 6.5. Platform
- 6.5.1. Global Industrial IoT (IIoT) Market, by Platform, by Region, 2019-2032 (USD Billion)
- 6.5.2. Application management
- 6.5.2.1. Global Industrial IoT (IIoT) Market, by Application management, by Region, 2019-2032 (USD Billion)
- 6.5.3. Device Management
- 6.5.3.1. Global Industrial IoT (IIoT) Market, by Device Management, by Region, 2019-2032 (USD Billion)
- 6.5.4. Connectivity Management
- 6.5.4.1. Global Industrial IoT (IIoT) Market, by Connectivity Management, by Region, 2019-2032 (USD Billion)
7. Global Industrial IoT (IIoT) Market, by End-use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 7.3. Chemical
- 7.3.1. Global Industrial IoT (IIoT) Market, by Chemical, By Region, 2019-2032 (USD Billion)
- 7.4. Metal & Mining
- 7.4.1. Global Industrial IoT (IIoT) Market, by Metal & Mining, By Region, 2019-2032 (USD Billion)
- 7.5. Oil & Gas
- 7.5.1. Global Industrial IoT (IIoT) Market, by Oil & Gas, By Region, 2019-2032 (USD Billion)
- 7.6. Energy & Power
- 7.6.1. Global Industrial IoT (IIoT) Market, by Energy & Power, By Region, 2019-2032 (USD Billion)
- 7.7. Manufacturing
- 7.7.1. Global Industrial IoT (IIoT) Market, by Manufacturing, By Region, 2019-2032 (USD Billion)
- 7.8. Healthcare
- 7.8.1. Global Industrial IoT (IIoT) Market, by Healthcare, By Region, 2019-2032 (USD Billion)
- 7.9. Agriculture
- 7.9.1. Global Industrial IoT (IIoT) Market, by Agriculture, By Region, 2019-2032 (USD Billion)
- 7.10. Logistics & Transport
- 7.10.1. Global Industrial IoT (IIoT) Market, by Logistics & Transport, By Region, 2019-2032 (USD Billion)
- 7.11. Others
- 7.11.1. Global Industrial IoT (IIoT) Market, by Others, By Region, 2019-2032 (USD Billion)
8. Global Industrial IoT (IIoT) Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Industrial IoT (IIoT) Market Assessment, By Geography, 2019-2032 (USD Billion)
- 8.3. Industrial IoT (IIoT) Market - North America
- 8.3.1. North America: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.3.2. North America: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.3.3. North America: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.3.4. Industrial IoT (IIoT) Market - U.S.
- 8.3.4.1. U.S.: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.3.4.2. U.S.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.3.4.3. U.S.: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.3.5. Industrial IoT (IIoT) Market - Canada
- 8.3.5.1. Canada: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.3.5.2. Canada.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.3.5.3. Canada: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.4. Industrial IoT (IIoT) Market - Europe
- 8.4.1. Europe: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.4.2. Europe.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.4.3. Europe: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.4.4. Industrial IoT (IIoT) Market - UK
- 8.4.4.1. UK: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.4.4.2. UK.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.4.4.3. UK: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.4.5. Industrial IoT (IIoT) Market - France
- 8.4.5.1. France: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.4.5.2. France.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.4.5.3. France: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.4.6. Industrial IoT (IIoT) Market - Germany
- 8.4.6.1. Germany: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.4.6.2. Germany.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.4.6.3. Germany: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.4.7. Industrial IoT (IIoT) Market - Italy
- 8.4.7.1. Italy: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.4.7.2. Italy.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.4.7.3. Italy: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.4.8. Industrial IoT (IIoT) Market - Spain
- 8.4.8.1. Spain: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.4.8.2. Spain.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.4.8.3. Spain: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.4.9. Industrial IoT (IIoT) Market - Netherlands
- 8.4.9.1. Netherlands: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.4.9.2. Netherlands.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.4.9.3. Netherlands: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.4.10. Industrial IoT (IIoT) Market - Russia
- 8.4.10.1. Russia: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.4.10.2. Russia.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.4.10.3. Russia: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.5. Industrial IoT (IIoT) Market - Asia Pacific
- 8.5.1. Asia Pacific: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.5.2. Asia Pacific.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.5.3. Asia Pacific: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.5.4. Industrial IoT (IIoT) Market - China
- 8.5.4.1. China: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.5.4.2. China.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.5.4.3. China: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.5.5. Industrial IoT (IIoT) Market - India
- 8.5.5.1. India: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.5.5.2. India.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.5.5.3. India: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.5.6. Industrial IoT (IIoT) Market - Malaysia
- 8.5.6.1. Malaysia: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.5.6.2. Malaysia.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.5.6.3. Malaysia: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.5.7. Industrial IoT (IIoT) Market - Japan
- 8.5.7.1. Japan: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.5.7.2. Japan.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.5.7.3. Japan: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.5.8. Industrial IoT (IIoT) Market - Indonesia
- 8.5.8.1. Indonesia: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.5.8.2. Indonesia.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.5.8.3. Indonesia: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.5.9. Industrial IoT (IIoT) Market - South Korea
- 8.5.9.1. South Korea: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.5.9.2. South Korea.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.5.9.3. South Korea: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.6. Industrial IoT (IIoT) Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.6.2. Middle East & Africa.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.6.3. Middle East & Africa: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.6.4. Industrial IoT (IIoT) Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.6.4.2. Saudi Arabia.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.6.4.3. Saudi Arabia: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.6.5. Industrial IoT (IIoT) Market - UAE
- 8.6.5.1. UAE: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.6.5.2. UAE.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.6.5.3. UAE: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.6.6. Industrial IoT (IIoT) Market - Israel
- 8.6.6.1. Israel: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.6.6.2. Israel.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.6.6.3. Israel: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.6.7. Industrial IoT (IIoT) Market - South Africa
- 8.6.7.1. South Africa: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.6.7.2. South Africa.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.6.7.3. South Africa: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.7. Industrial IoT (IIoT) Market - Latin America
- 8.7.1. Latin America: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.7.2. Latin America.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.7.3. Latin America: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.7.4. Industrial IoT (IIoT) Market - Mexico
- 8.7.4.1. Mexico: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.7.4.2. Mexico.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.7.4.3. Mexico: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.7.5. Industrial IoT (IIoT) Market - Brazil
- 8.7.5.1. Brazil: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.7.5.2. Brazil.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.7.5.3. Brazil: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
- 8.7.6. Industrial IoT (IIoT) Market - Argentina
- 8.7.6.1. Argentina: Industrial IoT (IIoT) Market, by Deployment, 2019-2032 (USD Billion)
- 8.7.6.2. Argentina.: Industrial IoT (IIoT) Market, by End-use, 2019-2032 (USD Billion)
- 8.7.6.3. Argentina: Industrial IoT (IIoT) Market, by Component, 2019-2032 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. ABB
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Atmel Corporation
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. ARM Holding Plc
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Cisco Systems Inc.
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. International Business Machines Corporation (IBM)
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. General Electric Company (GE)
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Intel Corporation
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Siemens AG
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Microsoft Corporation
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Rockwell Automation, Inc.
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development