Aug 7, 2023   SOURCE: BusinessWire

Leading the Way: ABB, GE, Siemens, and More Powering the Industrial IoT Market 2023-2030 - ResearchAndMarkets.com

The "Global Industrial IoT Market by Technology (Camera, Condition Monitoring, Distributed Control System), Industry (Agriculture, Automotive & Transportation, BFSI) - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.

The Global Industrial IoT Market size was estimated at USD 79.22 billion in 2022, USD 86.45 billion in 2023, growing at a CAGR of 9.37% to reach USD 162.26 billion by 2030.

The Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation is expected to have significant long-term effects on the Global Industrial IoT Market.

The ongoing research considers the changes in consumer behavior, supply chain disruptions, and government interventions caused by the pandemic. Similarly, the report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading.

Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.

Market Segmentation & Coverage:

This research report categorizes the Global Industrial IoT Market in order to forecast the revenues and analyze trends in each of following sub-markets:

  • Based on Technology, the market is studied across Camera, Condition Monitoring, Distributed Control System, Electronic Shelf Label, Flow and Application Control Device, GPS or GNSS, Guidance and Steering, Industrial Robotics, Interface Board, Networking Technology, RFID, Sensor, Smart Beacon, Smart Meter, and Yield Monitor. Networking Technology commanded largest market share of 19.01% in 2022, followed by Sensor.
  • Based on Industry, the market is studied across Agriculture, Automotive & Transportation, BFSI, Chemicals & Material Processing, Energy & Utility, Healthcare & Pharmaceuticals, IT & Telecommunication, Metal & Mining, Oil & Gas, Retail & Consumer Goods, and Semiconductors. The IT & Telecommunication commanded largest market share of 16.45% in 2022, followed by Retail & Consumer Goods.
  • Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The Americas commanded largest market share of 35.63% in 2022, followed by Europe, Middle East & Africa.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Global Industrial IoT Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Market Dynamics

Drivers

  • Rapidly Growing Industrial Automation
  • Growing Demand for Connected Supply Chain and Operational Efficacy & Flexibility
  • Increasing Business Adoption of Cloud Computing Platforms

Restraints

  • Lack of Skilled Workforce and Standardization in Communication Protocols
  • Incompatibility with Legacy Equipment and Coupled with Relatively High Implementation Costs

Opportunities

  • Constant Innovation and Development in the Field of IIoT
  • Industry Inclination towards Predictive Maintenance Technologies

Challenges

  • Possibilities of Data Security and Privacy Threats

Companies Mentioned

  • ABB Ltd.
  • Ansys, Inc.
  • Arm Ltd.
  • Cisco Systems, Inc.
  • Dassault Systemes SE
  • General Electric Company
  • Honeywell International Inc.
  • Huawei Technologies Co., Ltd.
  • Intel Corporation
  • International Business Machines Corporation
  • KUKA AG
  • NEC Corporation
  • PTC Inc.
  • Robert Bosch GmbH
  • Rockwell Automation, Inc.
  • SAP SE
  • Siemens AG
  • Sigfox S.A.
  • Texas Instruments Incorporated
  • Worldsensing SL

For more information about this report visit https://www.researchandmarkets.com/r/2wnu8t

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