The US Industrial IoT (IIoT) Market is estimated to be USD 16.02 Bn in 2023 and is expected to reach USD 24.55 Bn by 2028, growing at a CAGR of 8.9%.The next generations of IIoT devices are being designed to support current emerging technologies, such as artificial intelligence, the cloud, machine learning, mobility, virtual reality, and augmented reality
Market Dynamics
Market dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.
Market Segmentations
The US Industrial IoT (IIoT) Market is segmented based on Device and Technology, Connectivity Technology, Software, and Vertical- By Device and Technology, the market is classified into Sensors, RFID, Industrial Robotics, Distributed Control Systems (DCS), Condition Monitoring, Smart Meters, Electronic Shelf Labels (ESL), Cameras, Smart Beacons, Interface Boards, Yield Monitors, Guidance & Steering, Gps/Gnss, Flow & Application Control Devices, and Networking Technology.
- By Connectivity Technology, the market is classified into Wired Technologies, Wireless Technologies, and Satellite Technologies.
- By Software, the market is classified into Management (PLM), Manufacturing Execution Systems (MES), SCADA, Outage Management Systems (OMS), Distribution Management Systems, Remote Patient Monitoring, Retail Management Software, Visualization Software, and Transit Management Systems.
- By Vertical, the market is classified into Manufacturing, Energy, Healthcare, Retail, Transportation, and Agriculture.
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Cisco Systems, Inc., General Electric Co., Honeywell International, Inc., Schneider Electric SE, Siemens Ag, etc.Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the US Industrial IoT (IIoT) Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.The analyst analyses the US Industrial IoT (IIoT) Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, The analyst has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the US Industrial IoT (IIoT) Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
Report Highlights:
- A complete analysis of the market, including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Table of Contents
1 Report Description1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size, Segmentations, and Outlook
4 Market Dynamics
4.1 Drivers
4.1.1 Rapid Adoption of AI & IoT in Manufacturing Sector
4.1.2 Increased Use of Cloud Computing Platforms
4.2 Restraints
4.2.1 Incompatibility of Legacy Equipment with Communication Networks
4.3 Opportunities
4.3.1 Governments Support for R&D Activities
4.3.2 Rising Need for Industrial Automation
4.4 Challenges
4.4.1 Risk of Cyber Attacks
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 PESTLE Analysis
5.4 SWOT Analysis
5.5 Impact of COVID-19
5.6 Impact of Economic Slowdown & Impending Recession
5.7 Ansoff Matrix Analysis
6 US’ Industrial IoT (IIoT) Market, By Device and Technology
6.1 Introduction
6.2 Sensors
6.3 RFID
6.4 Industrial Robotics
6.5 Distributed Control Systems (DCS)
6.6 Condition Monitoring
6.7 Smart Meters
6.8 Electronic Shelf Labels (ESL)
6.9 Cameras
6.10 Smart Beacons
6.11 Interface Boards
6.12 Yield Monitors
6.13 Guidance & Steering
6.14 Gps/Gnss
6.15 Flow & Application Control Devices
6.16 Networking Technology
7 US’ Industrial IoT (IIoT) Market, By Connectivity Technology
7.1 Introduction
7.2 Wired Technologies
7.3 Wireless Technologies
7.3.1 Wi-Fi
7.3.2 Bluetooth
7.3.3 Cellular Technologies
7.4 Satellite Technologies
8 US’ Industrial IoT (IIoT) Market, By Software
8.1 Introduction
8.2 Product Lifecycle Management (PLM)
8.3 Manufacturing Execution Systems (MES)
8.4 SCADA
8.5 Outage Management Systems (OMS)
8.6 Distribution Management Systems
8.7 Remote Patient Monitoring
8.8 Retail Management Software
8.9 Visualization Software
8.10 Transit Management Systems
9 US’ Industrial IoT (IIoT) Market, By Vertical
9.1 Introduction
9.2 Manufacturing
9.3 Energy
9.4 Healthcare
9.5 Retail
9.6 Transportation
9.7 Agriculture
10 Competitive Landscape
10.1 Competitive Quadrant
10.2 Market Share Analysis
10.3 Strategic Initiatives
10.3.1 M&A and Investments
10.3.2 Partnerships and Collaborations
10.3.3 Product Developments and Improvements
11 Company Profiles
11.1 ABB Ltd.
11.2 Ansys, Inc.
11.3 Bright Machines, Inc.
11.4 Cisco Systems, Inc.
11.5 Dassault Systèmes SE
11.6 Dragos, Inc.
11.7 Emerson Electric Co.
11.8 General Electric Co.
11.9 Google LLC
11.10 Honeywell International, Inc.
11.11 Huawei Technologies Co. Ltd.
11.12 IBM Corp.
11.13 Intel Corp.
11.14 Microsoft Corp.
11.15 NEC Corp.
11.16 PTC, Inc.
11.17 Robert Bosch GmbH
11.18 Rockwell Automation, Inc.
11.19 SAP SE
11.20 Schneider Electric SE
11.21 Siemens Ag
11.22 Texas Instruments, Inc.
12 Appendix
12.1 Questionnaire
Companies Mentioned
- ABB Ltd.
- Ansys, Inc.
- Bright Machines, Inc.
- Cisco Systems, Inc.
- Dassault Systèmes SE
- Dragos, Inc.
- Emerson Electric Co.
- General Electric Co.
- Google LLC
- Honeywell International, Inc.
- Huawei Technologies Co. Ltd.
- IBM Corp.
- Intel Corp.
- Microsoft Corp.
- NEC Corp.
- PTC, Inc.
- Robert Bosch GmbH
- Rockwell Automation, Inc.
- SAP SE
- Schneider Electric SE
- Siemens Ag
- Texas Instruments, Inc.
