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Global Industrial Internet of Things (IIoT) Market to reach USD XX Billion by 2028.

Global Industrial Internet of Things (IIoT) Market Size study, By Component (Solution, Services, Platform), By End-use Verticals (Manufacturing, Energy & Power, Oil & Gas, Healthcare, Logistics & Transport, Agriculture, Others), and Regional Forecasts 2022-2028

Product Code: ENGE-78623068
Publish Date: 15-05-2022
Page: 200

Global Industrial Internet of Things (IIoT) Market is valued approximately USD XX Billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028.

The industrial internet of things (IIoT) is an instrument, interconnected sensors, and other devices networked together with computers’ industrial applications that comprise energy and manufacturing management. IIoT is gaining a huge consumer base in the industries such as manufacturing, healthcare, logistics & transport, energy & power, oil & gas, agriculture, and many others. The growing adoption of the Internet of Things (IoT) and artificial intelligence (AI) in the manufacturing industry, rising initiatives from various regional governments for R&D activities related to IIoT, coupled with the increased use of cloud computing platforms are the key factors that are fostering the global market demand. For instance, according to Statista, in 2021, the industrial IoT market was stood at USD 82.7 billion worldwide. Also, the market is projected to grow and reach USD 110.06 billion by 2025. Accordingly, the rising adoption of industrial IoT is impelling market growth across the globe. However, the incompatibility of legacy equipment with communication networks and the growing need to maintain and update IIoT systems impede the growth of the market over the forecast period of 2022-2028. Also, the rising application of AI and IoT in the medical sector and the development of the emerging markets are anticipated to act as a catalyzing factor for the market demand during the forecast period.

The key regions considered for the global Industrial Internet of Things (IIoT) Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing acceptance of the novel technologies and the presence of well-established market vendors. Whereas, Asia-Pacific is also anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the government initiatives for the adoption of emerging technologies, as well as, rising investments for R&D activities, would create lucrative growth prospects for the Industrial Internet of Things (IIoT) Market across the Asia-Pacific region.

Major market players included in this report are:
Huawei Technologies Co., Ltd.
General Electric Company (GE)
Intel Corporation
Rockwell Automation, Inc.
Honeywell International Inc.
IBM Corporation
Microsoft Corporation
Siemens AG
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component
By End-use Verticals
Energy & Power
Oil & Gas
Logistics & Transport
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028
Target Audience of the Global Industrial Internet of Things (IIoT) Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Global Industrial Internet of Things (IIoT) Market, by Region, 2020-2028 (USD Billion)
1.2.2. Global Industrial Internet of Things (IIoT) Market, by Component, 2020-2028 (USD Billion)
1.2.3. Global Industrial Internet of Things (IIoT) Market, by End-use Verticals, 2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Industrial Internet of Things (IIoT) Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Industrial Internet of Things (IIoT) Market Dynamics
3.1. Industrial Internet of Things (IIoT) Market Impact Analysis (2020-2028)
3.1.1. Market Drivers Increasing adoption of artificial intelligence (AI) and Internet of Things (IoT) in manufacturing sector Growing use of cloud computing platforms
3.1.2. Market Challenges Incompatibility of legacy equipment with communication networks Growing need to maintain and updates of IIoT systems
3.1.3. Market Opportunities Rising application of AI and IoT in medical sector Development of the emerging markets
Chapter 4. Global Industrial Internet of Things (IIoT) Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Industrial Internet of Things (IIoT) Market, by Component
6.1. Market Snapshot
6.2. Global Industrial Internet of Things (IIoT) Market by Component, Performance – Potential Analysis
6.3. Global Industrial Internet of Things (IIoT) Market Estimates & Forecasts by Component 2018-2028 (USD Billion)
6.4. Industrial Internet of Things (IIoT) Market, Sub Segment Analysis
6.4.1. Solution
6.4.2. Services
6.4.3. Platform
Chapter 7. Global Industrial Internet of Things (IIoT) Market, by End-use Verticals
7.1. Market Snapshot
7.2. Global Industrial Internet of Things (IIoT) Market by End-use Verticals, Performance – Potential Analysis
7.3. Global Industrial Internet of Things (IIoT) Market Estimates & Forecasts by End-use Verticals 2018-2028 (USD Billion)
7.4. Industrial Internet of Things (IIoT) Market, Sub Segment Analysis
7.4.1. Manufacturing
7.4.2. Energy & Power
7.4.3. Oil & Gas
7.4.4. Healthcare
7.4.5. Logistics & Transport
7.4.6. Agriculture
7.4.7. Others
Chapter 8. Global Industrial Internet of Things (IIoT) Market, Regional Analysis
8.1. Industrial Internet of Things (IIoT) Market, Regional Market Snapshot
8.2. North America Industrial Internet of Things (IIoT) Market
8.2.1. U.S. Industrial Internet of Things (IIoT) Market Component estimates & forecasts, 2018-2028 End-use Verticals estimates & forecasts, 2018-2028
8.2.2. Canada Industrial Internet of Things (IIoT) Market
8.3. Europe Industrial Internet of Things (IIoT) Market Snapshot
8.3.1. U.K. Industrial Internet of Things (IIoT) Market
8.3.2. Germany Industrial Internet of Things (IIoT) Market
8.3.3. France Industrial Internet of Things (IIoT) Market
8.3.4. Spain Industrial Internet of Things (IIoT) Market
8.3.5. Italy Industrial Internet of Things (IIoT) Market
8.3.6. Rest of Europe Industrial Internet of Things (IIoT) Market
8.4. Asia-Pacific Industrial Internet of Things (IIoT) Market Snapshot
8.4.1. China Industrial Internet of Things (IIoT) Market
8.4.2. India Industrial Internet of Things (IIoT) Market
8.4.3. Japan Industrial Internet of Things (IIoT) Market
8.4.4. Australia Industrial Internet of Things (IIoT) Market
8.4.5. South Korea Industrial Internet of Things (IIoT) Market
8.4.6. Rest of Asia Pacific Industrial Internet of Things (IIoT) Market
8.5. Latin America Industrial Internet of Things (IIoT) Market Snapshot
8.5.1. Brazil Industrial Internet of Things (IIoT) Market
8.5.2. Mexico Industrial Internet of Things (IIoT) Market
8.6. Rest of The World Industrial Internet of Things (IIoT) Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Huawei Technologies Co., Ltd. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Cisco
9.2.3. General Electric Company (GE)
9.2.4. Intel Corporation
9.2.5. Rockwell Automation, Inc.
9.2.6. ABB Ltd
9.2.7. Honeywell International Inc.
9.2.8. IBM Corporation
9.2.9. Microsoft Corporation
9.2.10. Siemens AG
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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