United States (USA) Industrial IoT Market Overview, 2029

United States (USA) Industrial IoT Market Overview, 2029

In United States, Industrial Internet of Things (IIoT) growth is the increasing focus on Industry 4.0, which aims to create smart factories that are highly automated and connected. IIoT technologies can help to enable this vision by providing real-time data on machine performance, production output, and other key metrics, enabling manufacturers to optimize their operations and reduce downtime. Due to concerns related to data protection, cybersecurity regulations, and environmental regulations, the market is subject to increasing regulatory scrutiny. For instance, the Federal Communications Commission (FCC) of the U.S. regulates the IoT radio frequency (RF) devices used in industrial sectors as per FCC Title 47. The FCC also monitors and regulates internet security at the network layer and asks the OEMs to implement security by design. The emergence of COVID 19 has a great impact on 5G industrial IoT market in not only the countries but also in different industries across the world. Furthermore, lockdown and restrictions have forced people to work from home. However, as the many regions around the world have started the process of unlocking, businesses in various sectors, including manufacturing industries will start their operation process. As many people are working remotely for experiencing higher connectivity and improved performance, the demand for high-speed networks, such as 5G, is also increasing. Furthermore, as customers are more focusing on quality, manufacturing companies have started shifting their conventional production process into the new advance automated process to maintain their quality. Additionally, to get the best output, manufactures can enforce quality checks and thresholds across production lines with the help of 5G industrial IoT solutions. The industrial IoT market is expected to grow due to the growing requirement to improve operational competence and excellent collaboration among major market participants to achieve the same.

According to the research report ""United States Industrial IoT Market Overview, 2029,"" published by Bonafide Research, the United States Industrial IoT market is anticipated to grow at more than 13% CAGR from 2024 to 2029. In 2023, the U.S. accounted for over 27% of the industrial internet of things (IIoT) market. Advantages associated with IIoT such as automated quality assurance monitoring, large-scale profit margins through improvement in power efficiency, productivity improvement, and efficiency of the manufacturing industry are anticipated to drive the market growth. IIoT helps industries reduce operating costs, assure workers’ safety, and increase throughput. By offering measurable outcomes apart from selling solutions, companies are progressively building new product and service hybrids to strengthen their position and generate new revenue streams and the industrial IoT industry is characterized by a high degree of innovation, owing to the increasing availability of affordable processors and sensors that can process real-time data and help companies make informed decisions. For instance, in March 2022, Intel Corporation launched the 12th generation Intel Core processors to get extreme business performance. The company has launched this in industrial IoT to increase the business class experience. Technological developments in semiconductor and electronic devices, growing usage of cloud computing platforms, standardization of IPv6, and backing from governments of various nations for IIoT R&D efforts are all driving the industrial IoT market forward. End-user concentration is a significant factor in the IIoT market, as a number of industry verticals are adopting various IIoT solutions and the rising demand for IIoT solutions, including remote monitoring, data management, and analytics, among others, creates opportunities for companies that focus on evolving IIoT solutions for these industries. Some of the key players operating in the market include General Electric Company (GE), Siemens AG, ABB Ltd., Microsoft Corporation, and Intel Corporation. General Electric’s industrial internet of things (IIOT) helps to combine manufacturing systems with the digital world to obtain optimized results.

The hardware section envelops actual gadgets and sensors significant for information assortment, observing, and computerization inside modern conditions. Equipment shapes the essential layer of IoT frameworks, including sensors, actuators, and doors that empower information securing and transmission, there's a predictable interest for vigorous, dependable equipment arrangements across enterprises like assembling, energy, and transportation, driving supported development. Nonstop developments in equipment, like better availability (e.g., 5G), upgraded sturdiness, and scaling down, support its market position. Equipment's combination with advanced analytics and artificial intelligence calculations improves its worth, making it vital for continuous bits of knowledge and functional efficiencies. The Software fragment includes applications and stages that oversee and dissect information gathered by IoT gadgets. Programming empowers prescient support models, enhancing resource the board and diminishing free time through proactive checking and examination. Rising worries over online protection drive interest for programming arrangements that guarantee information uprightness and administrative consistence in IoT organizations. Versatile programming stages take special care of different modern necessities, from limited scope arrangements to big business wide IoT biological systems. IoT Platform act as middleware that interfaces IoT gadgets, programming applications, and undertaking frameworks, working with information stream and combination. Stages empower consistent combination across heterogeneous IoT gadgets and frameworks, advancing interoperability and similarity; they give apparatuses and structures to creating and sending IoT applications, speeding up opportunity to-market and advancement. Stages offer high level investigation capacities, transforming crude information into significant bits of knowledge for further developed choice making. Increasing organizations and environment coordinated efforts improve stage contributions, supporting an expansive scope of modern applications and use cases.

Manufacturing leads in the modern IoT area because of its broad reception of IoT gadgets and answers for upgrade functional proficiency, mechanize processes, and work on generally efficiency. IoT applications in assembling incorporate prescient upkeep of hardware, continuous checking of creation lines, and stock administration through RFID and other sensor advancements. The area's development in coordinating IoT into tasks has situated it as a forerunner on the lookout. Medical care is encountering critical development in IoT reception, basically determined by the requirement for distant patient observing, resource following (such as medical equipment and pharmaceuticals) and working on functional efficiencies in clinics and facilities. IoT arrangements in medical services work with better understanding consideration, diminish costs, and guarantee consistence with administrative necessities like HIPAA. The area is developing as more medical services suppliers perceive the advantages of IoT in working on tolerant results and functional adequacy. The energy area uses IoT for brilliant lattice the board, advancing energy dispersion, and observing framework, for example, pipelines and environmentally friendly power sources. IoT empowers energy organizations to upgrade functional perceivability, further develop upkeep arranging, and guarantee productive energy utilization. Oil and Gas, IoT assumes a vital part in the oil and gas industry by empowering remote observing of oil apparatuses, pipelines, and gear. It helps in prescient support, wellbeing observing, and enhancing penetrating tasks. Notwithstanding difficulties, for example, distant areas and unforgiving conditions, IoT arrangements are progressively embraced to work on functional proficiency and security. In transportation, IoT applications incorporate armada the board, coordinated operations advancement, vehicle telematics, and prescient upkeep of vehicles and foundation. Others sectors are also adopting IoT to improve supply chain visibility, optimize resource utilization, and enhance operational efficiency. In retail, IoT facilitates inventory management and personalized customer experiences. In metals & mining and agriculture, IoT helps in monitoring equipment, optimizing production processes, and improving yield.

Wireless connectivity, including advancements like WiFi, Bluetooth, Zigbee, and cell organizations (4G/5G), is driving in the modern IoT market because of a few key benefits. Remote arrangements offer more prominent adaptability and versatility, permitting simple organization and development of IoT networks across enormous modern offices without the requirement for broad cabling and remote innovations empower constant information transmission, fundamental for applications like remote observing, prescient upkeep, and resource following. Enterprises like assembling, medical services, and transportation benefit from remote IoT arrangements that give moment admittance to basic information, improving functional productivity and navigation. Remote organizations support versatility, permitting IoT gadgets to impart consistently across various areas inside an office or across tremendous geological regions in areas like horticulture or operations. This portability is critical for applications requiring consistent observing or for interfacing versatile resources like vehicles or apparatus. Wired availability, fundamentally through Ethernet and other modern conventions like Modbus, Profibus, and Ethernet/IP, is encountering development in the modern IoT market in the US. Wired arrangements offer benefits like high dependability, lower idleness, and hearty security, making them appropriate for applications where information trustworthiness and soundness are fundamental. Enterprises like energy, utilities, and weighty assembling frequently favor wired associations for basic frameworks that require consistent, continuous information transmission. Wired networks give predictable transfer speed and are less helpless to obstruction or ecological variables that can influence remote transmissions. Wired associations are fundamental for associating fixed foundation, like sensors in modern hardware or control frameworks in assembling plants, where reliable and unsurprising correspondence execution is fundamental. The developing reception of wired network in the modern IoT area mirrors the requirement for dependable, high velocity information transmission in conditions where functional congruity and information security are basic needs.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Industrial IoT market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Offering
• Hardware
• Software
• Platforms

By Vertical
• Manufacturing
• Healthcare
• Energy
• Oil & Gas
• Transportation
• Others (Retail, Metals & Mining and Agriculture)

By Connectivity Technology
• Wireless
• Wired

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Industrial IoT industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.