Industrial Internet of Things (IoT) Market size is valued at USD 77.2 billion in 2021 and is expected to reach a value of USD 122.4 billion by 2028, growing at a CAGR of 6.8% during the forecast period 2022 to 2028. The global market provides a detailed overview of the industrial internet of things (IoT) market and that can be segmented by component and end-user. By component, the imarket has been segmented into solution, service, and platform. The solution segment is likely to be the largest and fastest-growing segment in terms of the component. Further, the solution is further segregated into remote monitoring, data management, analytics, and security solutions. Services are sub-segmented into professional and managed. The platform is divided into connectivity management, application management, and device management. Based on end users, the industrial internet of things (IoT) market is segmented into manufacturing, energy & power, oil & gas, healthcare, logistics & transport, and agriculture. Among these, the healthcare segment is expected to have the fastest-growing market during the forecast period 2022-2028.
In Feb 2021, Cisco has teamed up with Newark, an Avnet company, to offer customers across North America industrial IoT network solutions for rugged and non-carpeted environments.