According to the recent study the industrial IoT market is projected to reach an estimated $403.3 billion by 2027 from $135.8 billion in 2021, at a CAGR of 20% from 2021 to 2027. Growth in this market is primarily driven by increasing demand for automation in manufacturing industry, increasing adoption for IoT and AI, rising awareness for safety and security, and standardization of IPv6.

Browse 107 figures / charts and 68 tables in this 205 -page report to understand trends, opportunities and forecast in industrial IoT market by end use industry (manufacturing, transportation, energy, retail, healthcare, and others), connectivity (wired and wireless), component (solution and service), device and technology (sensors, RFID, industrial robotics, distributed control system, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Manufacturing market is expected to remain the largest segment during the forecast period.”

Based on end use industry, the industrial IoT market is segmented into manufacturing, transportation, energy, retail, healthcare, and others. Lucintel forecasts that the manufacturing market is expected to remain the largest segment due to predicative maintenance, demand for technology advancement and need for improved operation efficiency in various industries.

“Within the industrial IoT market, the wireless segment is expected to remain the largest connectivity”

Based on connectivity the wireless segment is expected to witness the highest growth over the forecast period due to increasing usage of Wi-Fi, bluetooth, and cellular and satellite technologies.

“Asia pacific will dominate the industrial IoT market in near future”

Asia Pacific will remain the largest region over the forecast period, supported by growing urbanization, increasing internet penetration, and growing adoption of IoT in various industries in the region.

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Major players of industrial IoT market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. PTC, SAP, Cisco, General Electric, Siemens, IBM, Intel Corporation, Huawei, and Microsoft are among the major industrial IoT providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/industrial-iot-market.aspx or helpdesk@lucintel.com