Industrial IoT Market Segmentation:
Component Segment Analysis
Based on component, the solution segment is poised to account for industrial IoT market share of more than 56.1% by the end of 2035. Solutions offer integrated platforms that combine hardware, software, and analytics to deliver end-to-end functionality. It further encompasses predictive maintenance systems, digital twins, and real-time monitoring platforms that optimize industrial processes. Moreover, the increasing focus on interoperability and seamless connectivity has made solutions more attractive, as they provide comprehensive frameworks for managing IoT ecosystems. For instance, in April 2024, ABB, Capgemini, Microsoft, Rockwell Automation, Schneider Electric, and Siemens announced a collaboration for a new initiative to deliver interoperability for Industrial IoT ecosystems.
End use Segment Analysis
Based on end use, the manufacturing segment is projected to register considerable growth in the industrial IoT market by 2035. The segment’s early adoption of advanced technologies such as smart factories and industry 4.0, supported by government initiatives ensures that manufacturing remains at the forefront of IIoT innovation. In June 2023, ABB Measurement & Analytics China Technology Center and E Surfing IoT announced a collaboration to unveil a joint digitalization and industrial IoT lab. It is intended to support manufacturing industries with end-to-end industrial IoT solutions that help with real-time, data-driven decisions for safer, smarter, and more sustainable operations.
Our in-depth analysis of the market includes the following segments:
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Component |
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End Use |
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Software |
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Connectivity Technology |
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Device and Technology |
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