DUBLIN–(BUSINESS WIRE)–The “Industrial IoT Market – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global IIoT market size is expected to grow from USD 76.7 billion in 2021 to USD 106.1 billion by 2025, at a CAGR of 6.7% during the forecast period.
The growth of the IIoT sector is driven by factors such as technological advancements in semiconductor and electronic devices, increased use of cloud computing platforms, standardization of IPv6, and support from governments of different countries for R&D activities related to IIoT.
Networking technology to hold the largest share of the IIoT market in 2026.
Networking technology is expected to hold the largest share of the IIoT industry by device & technology in 2026. Both wired and wireless technologies are integral for machine-to-machine (M2M) connectivity to gather real-time data from industrial machinery across different geographies.
Market for manufacturing to hold the largest market share during the forecast period.
Owing to the increasing adoption of new technologies, such as global positioning systems, remote sensing, and variable rate technology, in precision farming, the IIoT market for the agriculture vertical is expected to grow at the largest CAGR during the forecast period.
APAC to hold the largest share of the IIoT industry during the forecast period.
APAC is expected to be the largest market for IIoT during the forecast period. Dense population and growing per capita income, along with large-scale industrialization and urbanization, are some of the major factors driving the growth of the IIoT market in APAC.
The leading players in the industrial IoT market are Huawei (China), Cisco (US), GE (US), Intel (US), Rockwell Automation (US), ABB (Switzerland), Texas Instruments (US), Honeywell (US), IBM (US), KUKA AG(Germany), NEC Corporation (Japan), Bosch.IO (Germany), Siemens AG (Germany), and SAP (Germany).
Market Dynamics
Drivers
Rapid Adoption of Artificial Intelligence (Ai) and Internet of Things (IoT) in Manufacturing Sector Increased Use of Cloud Computing Platforms Standardization of Ipv6 Support from Governments of Various Countries for R&D Activities Related to IIoT Restraints
Incompatibility of Legacy Equipment with Communication Networks Lack of Skilled Engineers Conversant with New Developments in Ai and IoT Technologies Opportunities
Growing Application of Ai and IoT in Medical Sector During Pandemic Predictive Maintenance of Machinery Challenges
Susceptibility of IoT Technologies to Cyberattacks Maintenance and Updates of IIoT Systems Case Studies
Digital Roadmap to Connect 20 Plants – Altizon’s Datonics Integration of Various Production Lines Using Telit’s Offering Digital Transformation Using Cognizant’s Utilities Technology Expertise Technology Analysis
Cloud Computing 5G Edge Computing Technology Regulatory Standards
Restriction of Hazardous Substances (Rohs) and Waste Electrical and Electronic Equipment (WEEE) Import-Export Laws US – Fips Security Level EU – Cybersecurity Act 2019 US – Nistr 8295 (2Nd Draft) Companies Mentioned
ABB Ansys Arm Holding Arundo Analytics Bosch Bright Machines Cisco Dassault Systemes Dragos Emerson Electric General Electric Google Honeywell Huawei Intel Kuka Microsoft NEC PTC Rockwell Automation SAP Se Siemens Sigfox Texas Instruments Worldsensing Sl For more information about this report visit https://www.researchandmarkets.com/r/5rmm7e