Global Industrial IoT Market Size, Growth, Opportunities Analysis, And Forecast To 2029
Bharat Book Bureau Provides the Trending Market Research Report on “Industrial IoT Market by Component (Hardware, Platform, Services, and Connectivity), Industry Verticals (Agriculture, Manufacturing, Energy & Utility, Oil & Gas, Aerospace, Retail, and Others) and Geography—Global Forecasts to 2029” under the Services Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
Industrial IoT Market by Component (Hardware, Platform, Services, and Connectivity), Industry Verticals (Agriculture, Manufacturing, Healthcare, Energy & Utility, Oil & Gas, Aerospace, Retail, and Others) and Geography—Global Forecasts to 2029
The research report titled, ‘Industrial IoT Market by Component (Hardware, Platform, Services, and Connectivity), Industry Verticals (Agriculture, Manufacturing, Healthcare, Energy & Utility, Oil & Gas, Aerospace, Retail, and Others) and Geography—Global Forecasts to 2029’, provides in-depth analysis of Industrial IoT market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2029.
The global Industrial IoT market is expected to reach $276.79 billion by 2029, growing at a CAGR of 16.0% during the forecast period of 2022–2029.
Rising investment towards Industry 4.0, government encouragement to promote industrial automation, and high productivity & efficiency requirement are the major factors driving the growth of this market. Additionally, industrial IoT for predictive maintenance and an increase in the number of data centers are expected to offer significant opportunities for market growth. However, the lack of standardization and high capital & operating expense can restrain the growth of this market up to a certain extent.
Based on component, the market is segmented into hardware, platform, services, and connectivity. In 2022, the hardware segment is expected to account for the largest market share of the Industrial IoT market. Factors such as consistent engagement of the industrial sector in improving efficiency, reducing costs, and increasing Overall Equipment Effectiveness (OEE) through better access to information from real-time solutions attribute to the growth of this segment. However, the platform segment is expected to grow with the highest CAGR during the forecast period. The rising adoption of industrial IoT platforms by the various industry verticals to improve operational efficiency, along with the growing need for superior monitoring technologies, is driving the growth of this segment.
Browse our full report with Table of Content: https://www.bharatbook.com/report/1360873/industrial-iot-market-by-component-hardware-platform-services-and-connectivity-industry-verticals-agriculture-manufacturing-energy-utility-oil-gas-aerospace-retail-and-others-and-geographyglobal-forecasts-to
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