Industrial IoT Market

Industrial IoT Market by Device & Technology (Sensor, RFID, Industrial Robotics, DCS, Condition Monitoring, Smart Meter, Camera System, Networking Technology), Software (PLM, MES, SCADA), Vertical, and Geography - Global Forecast to 2023

Report Code: SE 2909 Nov, 2019, by marketsandmarkets.com
Updated date -

The Industrial IoT Market to grow from USD 68.8 billion in 2019 to USD 98.2 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period (2019–2024).

Industrial IoT Market

The major factors that are expected to be driving the IIoT market are technological advancement in semiconductor and electronics devices and increasing use cloud computing platforms. The objective of the report is to define, describe, and forecast the IIoT market size based on technology, software, connectivity, vertical, and region.

Industrial IoT Market by Device & Technology, smart beacons to grow at the highest CAGR during the forecast period

The Industrial IoT market for smart beacons is expected to grow at the highest CAGR during forecast period. Increasing demand for automation technologies in the retail vertical to enable faster checkout and enhance overall customer experience is driving the growth of the market for smart beacons.

Industrial IoT Market by Software, the farm management systems to record the highest CAGR during the forecast period

The Industrial IoT market for farm management systems, by software, is expected to register a higher CAGR from 2019 to 2024. These systems are expected to hold a major market share in the future, given the increasing adoption of these systems by farmers and the growing availability of information technology (IT) solutions.

Industrial IoT Market

Industrial IoT Market in APAC to grow at the highest CAGR during forecast period

The industrial iot market in APAC is projected to grow at the highest CAGR from 2019 to 2024. APAC is a major manufacturing hub; it is also emerging as an important hub for the metals and mining vertical. Infrastructural and industrial development in emerging economies like China, India, and South-East Asia is contributing toward the development IIoT market in this region.

Industrial IoT Market Dynamics

Driver: Technological advancements in semiconductor and electronics devices

Physical, chemical, and biological sensors are rapidly evolving into autonomous analytical devices that perform sophisticated analytical processes, using nanostructured materials or nanomaterials, such as polymers and composites with good conductance. This has resulted in the development of additional types of sensors that are smaller, cheaper, and faster. These sensors consume less power and have less overhead impact on the equipment being sensed. Current generation sensors have intelligent functionalities that enable them to respond quickly to inputs and provide better decision-making capabilities to the systems with which they are connected. These smart sensors have wide-scale application in certain processes such as predictive maintenance. Some sensors are capable of operating in extreme environments, especially in process industries, and can transmit signals over long distances. These innovative sensors are being complimented by advancements in computing power of microprocessors and microcontrollers. The speed of processors and the overall data processing power of computers are doubling in almost every two years, in accordance with Moore’s Law. These enhanced data processing capabilities of computers are becoming vital for analyzing data collected from numerous sensors installed in plants. The following figure illustrates the advancements in computing power of devices and predicted rise in processing power.

Restraint: Lack of standardization

Several smart internet-connected devices are currently available in the market. However, a common protocol and communication standard is required for these devices to be able to communicate with each other, share data, or form an intelligent network. Interoperability and easy exchange of information among connected devices are of utmost importance for the further growth of IIoT. The current technical and market scenarios pertaining to IIoT do not seem to provide a promising architectural solution or a universal standard to solve the interoperability issue. An urgent requirement for a universal standard in either connectivity type, data formatting, or protocol is likely to arise owing to the fact that IIoT is not just a network of internet-connected machines, but of machines, humans, and so on. Any universal standard seeking to encompass such diverse IoT applications would have to be scalable. To achieve this, efforts would be required from enterprises, organizations, and developers.

Currently, there are more than 10 major players in the IIoT market, and these players have formed an alliance or a committee with other major or minor players operating in the market. Each of these alliances wants their technology or communication standard to be established as the only standard for the overall IIoT landscape. Thus, the non-standardization of communication protocols is restricting the growth of the IIoT market.

Opportunity: Innovative cross domain application and development of comprehensive system solutions

IoT offers exponential growth opportunities for organizations and businesses, equipping them to capture and adapt to IoT trends and technological innovations. To realize the full potential of IoT, cross-domain expertise and collaborations are required. The ability or capacity of organizations to achieve success in the IoT market space would depend on cross-sector collaborations and approaches to business models. For instance, Nexcom (Taiwan) introduced new IoT applications—IoT robotics, Industry 4.0, connected cars, responsive stores, and security in industry IoT.

Nexcom opened six different market divisions within the IoT ecosystem. This allows the company to target a range of applications in the IoT space. Electronic devices are becoming smarter with every generation. Features of current mobile devices are superior to that of their predecessors. Development of smart devices is the result of improved components that make up a device. This implies more complexity to deliver the required performance. All these requirements put pressure on IoT companies to deliver more chips that can meet customer expectations. Customers of semiconductor companies, including electronic gadget manufacturers, are looking for vendors that can provide them with complete system solutions. Companies that can provide integrated solutions to customers would be in a strong position to grow in the current market scenario.

Challenge:  Data Security and privacy

The Industrial IoT market has exponential growth potential; however, maintaining data security and privacy is a key challenge that market players may face in the coming years. As the number of sensors monitoring different things is growing, data generated by these sensors are also likely to increase in volume; this would help organizations handling data gain more knowledge about their competitors’ market positions. Companies can misuse data to automatically determine their rivals’ business strategies and production schedules, and to hack and take control over their machines, eventually shutting them down. From an industry standpoint, it is a major concern. To mitigate this security challenge across consumer bases as well as industrial sectors, companies such as Cisco Systems (US) and McAfee Inc. (US) are taking necessary steps. McAfee, a computer security software company, has already outlined its plan to secure IoT; Cisco has issued an IoT security grand challenge; with this, the company intends to encourage innovation in the area of IoT security by inviting proposals for intelligent cybersecurity solutions for the real world. For the past few decades, supervisory control and data acquisition (SCADA) system have been deployed across industries for improving operation capability. Industries such as oil & gas, power/smart grid, agriculture, and utilities have implemented these systems and networks to collect data and automate processes for efficient operations. SCADA systems, however, have major implication when it comes to security, as these systems are outside the firewall of enterprise IT networks, making them vulnerable to security threats not only to assets but to the communication link itself. To overcome such challenges, improved and newer SCADA systems use Ethernet devices that are more secure, with features such as VPN, secure sockets, encryption, and dedicated login on devices.

Industrial IoT Market

Scope of the Industrial IoT Market Report

Report Metric

Details

Report Name

Industrial IoT Market

Market size available for years

2016–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Billion (USD)

Segments covered

Device & Technology, Software, Connectivity, Vertical, and Region

Geographies covered

North America, Europe, APAC, and RoW

Companies covered

Cisco (US), GE (US), Honeywell (US), Intel(US), IBM(US), ABB (Switzerland), Rockwell Automation (US), Siemens (Germany), Huawei (China), Bosch (Germany), KUKA AG ( Germany), Texas Instruments (US), Dassault Systemes (France), PTC (US), ARM(UK), and NEC (Japan)

The research report categorizes the Industrial IoT Market to forecast the revenues and analyze the trends in each of the following sub-segments:

Industrial IoT Market by Device & Technology:

  • Sensor
  • RFID
  • Industrial Robotics
  • Distributed Control System
  • Condition Monitoring
  • Smart Meter
  • Smart Beacon
  • Yield Monitoring
  • Electronic Shelf Label
  • Camera
  • Guidance & Steering
  • GPS/GNSS
  • Interface Board
    • Multifunctional Board
    • Vehicle Detection Board
    • Communication Board
    • Flow & Application Control Device
    • Networking Technology

Industrial IoT Market By Connectivity :

  • Wired technologies
    • Ethernet
    • Modbus
    • Profinet
    • Foundation Fieldbus
  • Wireless Technologies
    • Wi-Fi
    • Zigbee
    • Bluetooth Technologies
    • Cellular Technologies
    • Satellite Technologies
  • Fieldbus Technologies
    • Profibus
    • Modbus-RTU
    • CC-Link
    • Others

Industrial IoT Market By Software:

  • PLM
  • MES
  • SCADA
  • Outage Management System
  • Distribution Management System
  • Visualization Software
  • Traffic  Management System
    • Intelligent Signaling
    • Video Analytics
    • Incident Detection
    • Route Scheduling Guidance
    • Communication Solutions
  •  Remote Patient Monitoring
  • Farm Management System

Industrial IoT Market By Vertical:

  • Manufacturing
    • Automotive
    • Machinery
    • Food and Beverages
    • Chemicals and Materials
    • Electricals and Electronics
    • Pharmaceuticals
  • Utilities
    • Smart Grid
    • Smart Water Management
  • Oil &Gas
    • Upstream
    • Midstream
      • Connecting Pipeline network
      • Leak detection
      • Storage
      • Safety and Alarms
    • Downstream
      • Refinery Crude Oil Facility
      • Facility Management
      • Yield Others
  • Metal & Mining
  • Healthcare
    • Electronic Healthcare Record
    • Remote Health Monitoring
    • Connected Healthcare Facilities
    • Warehouse Capacity Optimization
    • Centralized Patient & Hospital System Monitoring     
  • Retail
  • Transportation
    • Logistics
    • Asset & Freight Tracking
    • Remote Fleet Monitoring
    • Warehousing Capacity Optimization
    • Route Optimization
    • Transportation Infrastructure
    • Intelligent Traffic management
    • Parking and Ticketing Management
    • Others
  • Agriculture
    • Farm Vehicle Tracking
    • Smart Water Management
    • Livestock Monitoring
    • Storage Monitoring
    • Precision Monitoring
      • Plant & Soil Monitoring
      • Yield Monitoring
      • Field Mapping
      • Crop Scouting
      • Weather Tracking and Forecasting
      • Irrigation Management
      • Inventory Management
      • Others   

Industrial IoT Market Geographic Analysis

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • Japan
    • India
    • Rest of APAC
  • RoW
    • South America
    • Middle East
    • Africa

Key Market Players in Industrial IoT Market

Cisco (US), GE (US), ARM (UK), Rockwell Automation (US), Intel (US),  Honeywell (US), IBM (US), ABB (Switzerland), Siemens (Germany), Huawei (China), Bosch (Germany), KUKA AG ( Germany), Texas Instruments (US), Dassault Systemes (France), PTC (US), NEC (Japan), Synopsys Inc. (US), Atmel (Microchip) (US), Broadcom Corporation (US), SAP (Germany), Sight Machine (US), NXP Semiconductor (Netherlands), Schneider Electric (France), Bright Wolf (US), On Semiconductor (US), Micron Technology (US), STMicroelectronics (Switzerland), Analog Devices Inc., Silicon Labs(US), Digi (US), C3 IoT (US), Johnson Controls (US), Sigfox (Sweden), AT&T (US), Microsemi Corporation (US), Sierra Wireless (France), Samsung Electronics (South Korea), Bastille Networks (US), Trend Micro (Japan), Mocana (US), and Advantech (Taiwan).

Cisco is one of the leading IIoT solution provider. IoT is the center of Cisco’s business strategy. Cisco’s IoT business strategy combines the company’s cloud strategy with datacenter analytics, mobile, collaboration endpoints, and connected security. The focus of its business is on sustaining and extending its leadership position in routing and switching by investing more in ongoing innovations and expanding in new markets such as smart grids, smart connected communities, virtual healthcare, education, media solutions, and sports and entertainment. The company focuses on investing in its flagship businesses and compliments these businesses by making strategic acquisitions in next-generation growth opportunities.

Critical questions the report answers:

  • What are the upcoming trends for the IIoT market?
  • Which segment provides the most opportunity for growth?
  • Who are the leading vendors operating in this market?
  • What are the opportunities for new market entrants?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 13)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Scope of the Market
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Companies’ Revenues From the Studied Market
                    2.2.1.2 Analysis of Asps for the Different Types of Sensors
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing the Market Share By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions and Limitations
           2.4.1 Assumptions

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 36)
    4.1 Significant Growth Prospects in the IIoT Market
    4.2 Industrial IoT Market: Comparison of Growth Pattern of Verticals
    4.3 IIoT Market in APAC (2017)
    4.4 Market Share of Major Countries in IIoT, 2017
    4.5 IIoT Market, By Device and Technology, 2018 vs 2023

5 Market Overview (Page No. - 39)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Technological Advancements in Semiconductor and Electronics Devices
                    5.2.1.2 Increasing Use of Cloud Computing Platform
                    5.2.1.3 Standardization of IPV6
                    5.2.1.4 Support From Governments Worldwide
                    5.2.1.5 Decreasing Cost of Automation Systems
           5.2.2 Restraints
                    5.2.2.1 Lack of Standardization
                    5.2.2.2 Lack of Skilled Workforce
           5.2.3 Opportunities
                    5.2.3.1 Predictive Maintenance
                    5.2.3.2 Increasing Set-Up of Data Centers
           5.2.4 Challenges
                    5.2.4.1 Data Security and Privacy
                    5.2.4.2 Complexities Involved in Connecting Legacy Equipment Into the Network

6 Industry Trends (Page No. - 51)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Emerging Trends
           6.3.1 Digital Twin Technology
           6.3.2 Edge Computing Technologies

7 IIoT Market, By Device and Technology (Page No. - 59)
    7.1 Introduction
    7.2 Sensors
    7.3 RFID
    7.4 Industrial Robotics
    7.6 Distributed Control System
    7.7 Condition Monitoring
    7.8 Smart Meters
    7.8 Electronic Shelf Label
    7.9 GPS/GNSS
    7.10 Interface Board 
           7.10.1 Multifunctional Board
           7.10.2 Vechicle Detection Board
           7.10.3 Communication Board
    7.11 Ibeacons
    7.12 Camera Systems
    7.13 Yield Monitors
    7.14 Guidance and Steering
    7.15 Flow and Application Control Devices
    7.16 Networking Technologies

8 Industrial IoT Market, By Connectivity  (Page No. - 87)
    8.1 Introduction
    8.2 Wired Technologies
           8.2.1 Ethernet
           8.2.2 Modbus
           8.2.3 Profinet
           8.2.4 Foundation Fieldbus
    8.3 Wireless Technologies
           8.3.1 Wi-Fi
           8.3.2 Zigbee
           8.3.3 Bluetooth Low Energy (BLE)
           8.3.4 Cellular Technologies
           8.3.5 Satellite Technologies
    8.4 Field Technologies
           8.4.1 Profibus
           8.4.2 Modbus-RTU
           8.4.3 Cc-Link
           8.4.5 Others

9 IIoT Market, By Software (Page No. - 90)
    8.1 Introduction
    8.2 Product Lifecycle Management Systems
    8.3 Manufacturing Execution System
    8.4 SCADA Systems
    8.5 Outage Management System
    8.6 Distribution Management System
    8.7 Retail Management Software
    8.8 Remote Patient Monitoring System
    8.9 Traffic Management System
           8.9.1 Intelligent Siganling
           8.9.2 Video Analytics
           8.9.3 Incident Detection
           8.9.4 Route Scheduling Guidance
           8.9.5 Communication Solutions
    8.10 Farm Management System

9 Industrial IoT Market, By Vertical (Page No. - 102)
    9.1 Introduction
    9.2 Manufacturing
           9.2.1 Automotive
           9.2.2 Machinery
           9.2.3 Food and Beverages
           9.2.4 Chemicals and Materials
           9.2.5 Electrical and Electronics
           9.2.6 Pharmaceticals
    9.3 Utilities
           9.3.1 Smart Grid
           9.3.2 Smart Water Management
    9.4 Oil and Gas
           9.4.1 Upstream
           9.4.2 Mid-Stream
                    9.9.5.1 Connecting Pipeline Networks
                    9.9.5.1 Leak Detection
                    9.9.5.1 Storage
                    9.9.5.1 Safety and Alarms
           9.4.3 Downstream
                    9.9.5.1 Refinery Crude Oil Facility
                    9.9.5.1 Facility Management
                    9.9.5.1 Yield Others
    9.5 Metals and Mining
    9.6 Retail
    9.7 Healthcare
           9.7.1 Electronic Healthcare Record
           9.7.2 Remote Health Monitoring
           9.7.3 Connected Heathcare Facilities
           9.7.4 Warehouse Capacity Optimization
           9.7.5 Centralized Pateint & Hospital System Monitoring
    9.8 Transportation
           9.8.1 Logistics
           9.8.2 Asset & Freight Tracking
           9.8.3 Remote Fleet Monitoring
           9.8.4 Warehouse Capacity Optimization
           9.8.5 Route Optimization
           9.8.6 Transporatation Infrastructure
           9.8.2 Intelliegent Traffic Management
           9.8.3 Parking and Ticketing Management
           9.8.4 Others
    9.9 Agriculture
           9.9.1 Farm Vechicle Tracking
           9.9.2 Smart Water Management
           9.9.3 Livestock Monitoring
           9.9.4 Storage Monitoring
           9.9.5 Precision Monitoring
                    9.9.5.1 Plant & Soil Monitoring
                    9.9.5.1 Yield Monitoring
                    9.9.5.1 Field Mapping
                    9.9.5.1 Crop Scouting
                    9.9.5.1 Weather Tracking & Forecasting
                    9.9.5.1 Irrigation Management
                    9.9.5.1 Inventory Management
                    9.9.5.1 Others

10 Geographic Analysis (Page No. - 158)
     10.1 Introduction
     10.2 North America
             10.2.1 US
             10.2.2 Canada
             10.2.3 Mexico
     10.3 Europe
             10.3.1 U.K.
             10.3.2 Germany
             10.3.3 France
             10.3.4 Rest of Europe
     10.4 Asia-Pacific (APAC)
             10.4.1 China
             10.4.2 Japan
             10.4.3 India
             10.4.4 Rest of APAC
     10.5 Rest of the World (RoW)
             10.5.1 South America
             10.5.2 Middle East
             10.5.3 Africa

11 Competitive Landscape (Page No. - 185)
     11.1 Overview
     11.2 Market Ranking Analysis
     11.3 Competitive Situation and Trends
             11.3.1 New Product Launches
             11.3.2 Contracts, Partnershps, Collaborations, and Agreements
             11.3.3 Mergers and Acquisitions
             11.3.4 Expansions

12 Company Profiles (Page No. - 193)
     12.1 Cisco Systems, Inc.
             12.3.1 Business Overview
             12.3.2 Products and Solutions
             12.3.3 Recent Developments
             12.3.4 MnM View
                        12.3.4.1 SWOT Analysis
     12.2 Ge.
             12.3.1 Business Overview
             12.3.2 Products and Solutions
             12.3.3 Recent Developments
             12.3.4 MnM View
                        12.3.4.1 SWOT Analysis
     12.3 Honneywell
             12.3.1 Business Overview
             12.3.2 Products and Solutions
             12.3.3 Recent Developments
             12.3.4 MnM View
     12.4 Intel
             12.3.1 Business Overview
             12.3.2 Products and Solutions
             12.3.3 Recent Developments
             12.3.4 MnM View
                        12.3.4.1 SWOT Analysis
     12.5 IBM
             12.3.1 Business Overview
             12.3.2 Products and Solutions
             12.3.3 Recent Developments
     12.6 ABB
             12.3.1 Business Overview
             12.3.2 Products and Solutions
             12.3.3 Recent Developments
             12.3.4 MnM View
     12.7 Rockwell Automation 
             12.3.1 Business Overview
             12.3.2 Products and Solutions
             12.3.3 Recent Developments
             12.3.4 MnM View
                        12.3.4.1 SWOT Analysis
     12.8 Seimens
             12.3.1 Business Overview
             12.3.2 Products and Solutions
             12.3.3 Recent Developments
             12.3.4 MnM View
     12.9 Huawei
             12.3.1 Business Overview
             12.3.2 Products and Solutions
             12.3.3 Recent Developments
             12.3.4 MnM View
     12.10 Bosch
             12.3.1 Business Overview
             12.3.2 Products and Solutions
     12.11 Kuka AG
             12.3.1 Business Overview
             12.3.2 Products Offered
             12.3.3 Recent Developments
             12.3.4 MnM View
     12.12 Texas Instruments
             12.3.1 Business Overview
             12.3.2 Products and Solutions
             12.3.3 Recent Developments
             12.3.4 MnM View
     12.13 Dassault Systemes
             12.3.1 Business Overview
             12.3.2 Products Offered
             12.3.3 Recent Developments
             12.3.4 MnM View
     12.14 PTC
             12.3.1 Business Overview
             12.3.2 Products & Services
             12.3.3 Recent Developments
             12.3.4 MnM View
     12.15 ARM
             12.3.1 Business Overview
             12.3.2 Products Offered
             12.3.3 Recent Developments
             12.3.4 MnM View
     12.16 NEC
             12.3.1 Business Overview
             12.3.2 Products Offered
             12.3.3 Recent Developments
             12.3.4 MnM View

13 Appendix (Page No. - 241)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Introducing RT: Real-Time Market Intelligence
     13.4 Available Customizations
     13.5 Related Reports


List of Tables(108 Tables)

Table 1 Key Industry Alliances and Consortiums for Internet of Things
Table 2 Assumptions of the Research Study
Table 3 Industrial IoT Market, 2016–2024 (USD Billion)
Table 4 Market, By Device & Technology, 2016–2024 (USD Billion)
Table 5 Global IoT Sensor Market, 2016–2024 (USD Million)
Table 6 IoT Sensor Market, by Vertical 2016–2024 (USD Million)
Table 7 IoT Sensor Market, by Consumer IoT 2016–2024 (USD Million)
Table 8 IoT Sensor Market, by Commercial IoT 2016–2024 (USD Million)
Table 9 IoT Sensor Market, by Industrial IoT 2016–2024 (USD Million)
Table 10 IoT Sensor Market, by Type 2016–2024 (USD Million)
Table 11 IoT Sensor Market, by Type 2016–2024 (Million Units)
Table 12 IoT Sensor Market, by Application 2016–2024 (USD Million)
Table 13 IoT Sensor Market, by Smart Agriculture Application 2016–2024 (USD Million)
Table 14 IoT Sensor Market, by Retail Application 2016–2024 (USD Million)
Table 15 IoT Sensor Market, by Transportation Application 2016–2024 (USD Million)
Table 16 IoT Sensor Market, by Healthcare Application 2016–2024 (USD Million)
Table 17 Industrial IoT Market, By Software, 2015–2023 (USD Billion)
Table 18 Market, By Vertical, 2015–2023 (USD Billion)
Table 19 Market for Manufacturing Vertical, 2015–2023 (USD Billion)
Table 20 IIoT Market for Manufacturing Vertical, By Region, 2015–2023 (USD Billion
Table 21 Market for Manufacturing Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 22 Market for Manufacturing Vertical, By Software, 2015–2023 (USD Billion)
Table 23 IIoT Market for Sensors for Manufacturing Vertical, By Region, 2015–2023 (USD Million)
Table 24 IIoT Market for RFID for Manufacturing Vertical, By Region, 2015–2023 (USD Million)
Table 25 Industrial IoT Market for Industrial Robotics for Manufacturing Vertical, By Region, 2015–2023 (USD Billion)
Table 26 Market for DCS for Manufacturing Vertical, By Region, 2015–2023 (USD Million)
Table 27 Market for Condition Monitoring for Manufacturing Vertical, By Region, 2015–2023 (USD Million)
Table 28 Industrial IoT Market for Networking Technology for Manufacturing Vertical, By Region, 2015–2023 (USD Million)
Table 29 Market for PLM for Manufacturing Vertical, By Region, 2015–2023 (USD Million)
Table 30 IIoT Market for MES for Manufacturing Vertical, By Region, 2015–2023 (USD Billion)
Table 31 Market for SCADA for Manufacturing Vertical, By Region, 2015–2023 (USD Billion)
Table 32 Market for Energy Vertical, 2015–2023 (USD Billion)
Table 33 Industrial IoT Market for Energy Vertical, By Region, 2015–2023 (USD Billion)
Table 34 Market for Energy Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 35 IIoT Market for Energy Vertical, By Software, 2015–2023 (USD Billion)
Table 36 Market for Sensor for Energy Vertical, By Region, 2015–2023 (USD Million)
Table 37 IIoT Market for Smart Meter for Energy Vertical, By Region, 2015–2023 (USD Million)
Table 38 IIoT Market for Networking Technology for Energy Vertical, By Region, 2015–2023 (USD Million)
Table 39 Market for OMS for Energy Vertical, By Region, 2015–2023 (USD Million)
Table 40 Market for DMS for Energy Vertical, By Region, 2015–2023 (USD Billion)
Table 41 Market for Oil & Gas Vertical, 2015–2023 (USD Billion)
Table 42 IIoT Market for Oil & Gas Vertical, By Region, 2015–2023 (USD Billion)
Table 43 IIoT Market for Oil & Gas Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 44 Industrial IoT Market for Sensor for Oil & Gas Vertical, By Region, 2015–2023 (USD Million)
Table 45 IIoT Market for DCS for Oil & Gas Vertical, By Region, 2015–2023 (USD Billion)
Table 46 Market for Condition Monitoring for Oil & Gas Vertical, By Region, 2015–2023 (USD Million)
Table 47 Market for Networking Technology for Oil & Gas, By Region, 2015–2023 (USD Billion)
Table 48 Market for SCADA for Oil & Gas Vertical, By Region, 2015–2023 (USD Billion)
Table 49 IIoT Market for Metals & Mining Vertical, 2015–2023 (USD Billion)
Table 50 Market for Metals & Mining Vertical, By Region, 2015–2023 (USD Billion)
Table 51 IIoT Market for Metals & Mining Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 52 Industrial IoT Market for Sensor for Metals & Mining Vertical, By Region, 2015–2023 (USD Million)
Table 53 Market for Industrial Robotics for Metals & Mining Vertical, By Region, 2015–2023 (USD Million)
Table 54 Market for DCS for Metals & Mining Vertical, By Region, 2015–2023 (USD Million)
Table 55 IIoT Market for Condition Monitoring for Metals & Mining Vertical, By Region, 2015–2023 (USD Million)
Table 56 Market for Networking Technology for Metals & Mining Vertical, By Region, 2015–2023 (USD Million)
Table 57 IIoT Market for SCADA for Metals & Mining, By Region, 2015–2023 (USD Million)
Table 58 Market for Healthcare Vertical, 2015–2023 (USD Billion)
Table 59 IIoT Market for Healthcare Vertical, By Region, 2015–2023 (USD Billion)
Table 60 Market for Healthcare Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 61 IIoT Market for Sensor for Healthcare Vertical, By Region, 2015–2023 (USD Million)
Table 62 Industrial IoT Market for RFID for Healthcare Vertical, By Region, 2015–2023 (USD Million)
Table 63 Market for Networking Technology for Healthcare Vertical, By Region, 2015–2023 (USD Million)
Table 64 IIoT Market for Remote Patient Monitoring for Healthcare Vertical, By Region, 2015–2023 (USD Billion)
Table 65 IIoT Market for Retail Vertical, 2015–2023 (USD Billion)
Table 66 Market for Retail Vertical, By Region, 2015–2023 (USD Billion)
Table 67 IIoT Market for Retail Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 68 Market for Sensor for Retail Vertical, By Region, 2015–2023 (USD Million)
Table 69 IIoT Market for RFID for Retail Vertical, By Region, 2015–2023 (USD Million)
Table 70 Market for ESL for Retail Vertical, By Region, 2015–2023 (USD Million)
Table 71 Industrial IoT Market for Camera for Retail Vertical, By Region, 2015–2023 (USD Million)
Table 72 Market for Smart Beacon for Retail Vertical, By Region, 2015–2023 (USD Million)
Table 73 IIoT Market for Networking Technology for Retail Vertical, By Region, 2015–2023 (USD Billion)
Table 74 Market for Retail Management Software for Retail Vertical, By Region, 2015–2023 (USD Billion)
Table 75 Industrial IoT Market for Transportation Vertical, 2015–2023 (USD Billion)
Table 76 Market for Transportation Vertical, By Region, 2015–2023 (USD Billion)
Table 77 IIoT Market for Transportation Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 78 Market for Transportation Vertical, By Software, 2015–2023 (USD Billion)
Table 79 IIoT Market for Sensor for Transportation Vertical, By Region, 2015–2023 (USD Million)
Table 80 Market for Interface Board for Transportation Vertical, By Region, 2015–2023 (USD Million)
Table 81 Industrial IoT Market for Camera for Transportation Vertical, By Region, 2015–2023 (USD Million)
Table 82 Market for Networking Technology for Transportation Vertical, By Region, 2015–2023 (USD Million)
Table 83 IIoT Market for Visualization Software for Transportation Vertical, By Region, 2015–2023 (USD Million)
Table 84 Market for Transit Management System for Transportation Vertical, By Region, 2015–2023 (USD Million)
Table 85 Market for Agriculture Vertical, 2015–2023 (USD Billion)
Table 86 IIoT Market for Agriculture Vertical, By Region, 2015–2023 (USD Billion)
Table 87 Industrial IoT Market for Agriculture Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 88 Market for Sensor for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 89 Market for Yield Monitor for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 90 Market for Guidance & Steering for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 91 IIoT Market for GPS/GNSS for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 92 Market for Flow & Application Control Device for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 93 Market for Network Technology for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 94 IIoT Market for Farm Management System for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 95 Industrial IoT Market, By Region, 2015–2023 (USD Billion)
Table 96 Market in North America, By Vertical, 2015–2023 (USD Billion)
Table 97 IIoT Market in North America, By Country, 2015–2023 (USD Billion)
Table 98 Market in Europe, By Vertical, 2015–2023 (USD Billion)
Table 99 IIoT Market in Europe, By Geography, 2015–2023 (USD Billion)
Table 100 Market in APAC, By Vertical, 2015–2023 (USD Billion)
Table 101 IIoT Market in APAC, By Geography, 2015–2023 (USD Billion)
Table 102 Market in RoW, By Vertical, 2015–2023 (USD Billion)
Table 103 IIoT Market in RoW, By Region, 2015–2023 (USD Billion)
Table 104 Market Ranking, 2017
Table 105 Product Launches and Developments, 2015–2017
Table 106 Contracts, Partnerships, Collaborations, and Agreements, 2015–2017
Table 107 Mergers & Acquisitions, 2015–2017
Table 108 Expansions, 2015–2017


List of Figures (56 Figures)

Figure 1 Exhaustive Research Consideration for IoT Ecosystem
Figure 2 Industrial IoT Market: Process Flow of Market Size Estimation
Figure 3 Research Design: IIoT Market
Figure 4 IIoT Market Size Estimation Meth0dology: Bottom-Up Approach
Figure 5 Market Size Estimation Meth0dology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Manufacturing Vertical to Hold the Largest Size of the Market Throughout the Forecast Period
Figure 8 Market for Healthcare and Agriculture Verticals to Grow at A High CAGR During the Forecast Period
Figure 9 Networking Technology to Hold the Largest Size of the IIoT Market Throughout the Forecast Period
Figure 10 Market for Farm Management System to Grow at the Highest CAGR Between 2018 and 2023
Figure 11 APAC Held the Largest Share of the Industrial IoT Market in 2017
Figure 12 Technological Advancements in Semiconductor and Electronics Devices to Provide Growth Opportunities for the IIoT Market
Figure 13 Manufacturing Vertical to Hold the Largest Share of the Market Throughout the Forecast Period
Figure 14 China Held the Largest Share of the IIoT Market in APAC in 2017
Figure 15 US Accounted for the Largest Share of the Industrial IoT Market in 2017
Figure 16 Networking Technologies to Hold the Largest Size of the IIoT Market in 2018
Figure 17 Technological Advancements in Semiconductor and Electronics Devices to Drive the Growth of the Market
Figure 18 Advancements in Computing Power
Figure 19 Adoption of IPV6 Across Various Regions
Figure 20 Value Chain Analysis: Industrial IoT Market
Figure 21 Device & Technology to Hold A Larger Size of the Market Throughout the Forecast Period
Figure 22 Networking Technology to Hold the Largest Size of the IIoT Market, By Technology, Throughout the Forecast Period
Figure 23 Industrial IoT Market, By Software, 2018 vs 2023
Figure 24 Manufacturing Vertical to Hold the Largest Size of the Market Throughout the Forecast Period
Figure 25 Industrial Robotics to Hold the Largest Size of the IIoT Market for the Manufacturing Vertical Throughout the Forecast Period
Figure 26 APAC to Hold the Largest Size of the IIoT Market for the Energy Vertical By 2023
Figure 27 DCS to Hold the Largest Size of the Market for the Oil & Gas Vertical Throughout the Forecast Period
Figure 28 APAC to Hold the Largest Size of the IIoT Market for the Metals and Mining Vertical Throughout the Forecast Period
Figure 29 Networking Technology to Hold the Largest Size of the Market for the Healthcare Vertical Throughout the Forecast Period
Figure 30 North America to Hold the Largest Size of the Market for the Retail Vertical in 2018
Figure 31 Camera to Hold the Largest Size of the Industrial IoT Market for the Transportation Vertical, By Technology, During the Forecast Period
Figure 32 North America to Hold the Largest Size of the Market for the Agriculture Vertical in 2018
Figure 33 Geographic Snapshot of the IIoT Market, 2017
Figure 34 Attractive Growth Opportunities for the Market for Various Verticals in 4 Major Regions
Figure 35 Snapshot of the IIoT Market in North America, 2017
Figure 36 Snapshot of the Market in Europe, 2017
Figure 37 Snapshot of the Industrial IoT Market in APAC, 2017
Figure 38 Snapshot of the Market in RoW, 2017
Figure 39 Growth Strategies Adopted By Companies in the Market Between 2015 and 2017
Figure 40 Battle for Market Share: Agreements, Contracts, Collaborations, and Partnerships Emerged as Key Strategies Adopted By Market Players Between 2015 and 2017
Figure 41 Cisco: Company Snapshot
Figure 42 GE: Company Snapshot
Figure 43 Honeywell: Company Snapshot
Figure 44 Intel: Company Snapshot
Figure 45 IBM: Company Snapshot
Figure 46 ABB: Company Snapshot
Figure 47 Rockwell Automation: Company Snapshot
Figure 48 Siemens: Company Snapshot
Figure 49 Huawei: Company Snapshot
Figure 50 Bosch: Company Snapshot
Figure 51 Kuka: Company Snapshot
Figure 52 Texas Instruments: Company Snapshot
Figure 53 Dassault Systemes: Company Snapshot
Figure 54 PTC: Company Snapshot
Figure 55 ARM: Company Snapshot
Figure 56 NEC: Company Snapshot

The study involved 4 major activities in estimating the current size of the industrial IoT market. Exhaustive secondary research was done to collect information on the market, the peer markets, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred to in this research study include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers, industrial IoT-related journals, IEST publications; directories; and databases. The secondary data has been collected and analyzed to arrive at the overall market size estimations, which has been further validated by primary research.

Primary Research

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information relevant to this report. Extensive primary research has been conducted after understanding and analyzing the industrial IoT market through secondary research. Several primary interviews have been conducted with key opinion leaders from both demand- and supply-side vendors across 4 regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). RoW comprises Middle East and Africa. Approximately 25% of the primary interviews have been conducted with the demand side and 75% with the supply side. This primary data has been collected mainly through telephonic interviews, which accounted for 80% of the total primary interviews. Besides, questionnaires and emails were also used to collect the data.

Industrial IoT Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were implemented to estimate and validate the total size of the industrial IoT market. These methods were also used extensively to estimate the size of the markets based on various subsegments. The research methodology used to estimate the market size includes the following steps:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides across different end-use applications.

Study Objectives

  • To describe and forecast the industrial IoT market, in terms of value, segmented on the basis of technology, software, vertical, and region
  • To describe and forecast the market size with respect to 4 main regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding the major factors such as drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market
  • To analyze opportunities in the market for stakeholders and provide a detailed competitive landscape of the market
  • To strategically profile the key players in the market and comprehensively analyze their market ranking and core competencies2
  • To analyze competitive developments such as product launches/developments, partnerships, expansions, and Research & Development (R&D) activities carried out by players in the Industrial IoT market

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to a company's specific needs. The following customization options are available for this report:

Regional Analysis

  • Country-wise breakdown for different segments (By Technology, Software, Vertical) in North America, Europe, Asia Pacific, and RoW

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
SE 2909
Published ON
Nov, 2019
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