Global Industrial Internet of Things (IIoT) Market to Reach $122.6 Billion by 2030
The global market for Industrial Internet of Things (IIoT) estimated at US$81.3 Billion in the year 2023, is expected to reach US$122.6 Billion by 2030, growing at a CAGR of 6.1% over the analysis period 2023-2030. IIoT Sensor, one of the segments analyzed in the report, is expected to record a 6.2% CAGR and reach US$36.7 Billion by the end of the analysis period. Growth in the RFID Technology segment is estimated at 6.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $24.7 Billion, While China is Forecast to Grow at 5.7% CAGR
The Industrial Internet of Things (IIoT) market in the U.S. is estimated at US$24.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$21.3 Billion by the year 2030 trailing a CAGR of 5.7% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.6% and 4.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.
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