Meticulous Research® has released a new report titled “Industrial IoT Market by Component (Hardware, Platform, Services, Connectivity), Industry (Agriculture, Manufacturing, Energy & Utilities, Oil & Gas, Aerospace, Retail, Transportation & Logistics, Others) Geography - Global Forecast to 2031.” This comprehensive study forecasts that the industrial IoT market will surge to $408.2 billion by 2031, with a remarkable CAGR of 19.3% from 2024 to 2031. Key drivers of this growth include escalating investments in Industry 4.0, government incentives for industrial automation, and the increasing need for productivity enhancement. Nonetheless, challenges such as standardization issues and high operational costs are restraining market expansion.



The rise of predictive maintenance and data centers presents growth opportunities, while vulnerabilities in IoT devices and a shortage of skilled professionals remain significant hurdles. The report highlights trends such as IIoT digital twins, edge computing, and smart manufacturing-as-a-service. The market is divided by component and industry vertical, with hardware leading in market share and the platforms segment showing the highest CAGR. Regionally, Asia-Pacific is set to dominate, driven by automation demand, robotics adoption, and robust government initiatives.



Key Players:

The key players operating in the industrial IoT market are ABB Ltd. (Switzerland), General Electric Company (U.S.), Emerson Electric Co. (U.S.), Intel Corporation (U.S.), Cisco Systems, Inc. (U.S.), SAP SE (Germany), IBM Corporation (U.S.), Honeywell International Inc. (U.S.), Amazon Web Services, Inc. (U.S.), Siemens AG (Germany), Huawei Technologies Co, Ltd. (China), Rockwell Automation, Inc. (U.S.), PTC, Inc. (U.S.), Dassault Systemes (France), Robert Bosch GmbH (Germany), KUKA AG (Germany), Microsoft Corporation (U.S.), Schneider Electric SE (France), Advantech Co., Ltd. (Taiwan), and C3.ai, Inc. (U.S.)



Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5102



Key questions answered in the report-

Which are the high-growth market segments based on component and industry vertical?
What was the historical market for industrial IoT globally?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, and opportunities in the industrial IoT market?
Who are the major players, and what shares do they hold in the industrial IoT market?
What is the competitive landscape like in the industrial IoT market?
What are the recent developments in the industrial IoT market?
What are the different strategies adopted by the major players in the industrial IoT market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the industrial IoT market, and how do they compete with the other players?



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