The US Industrial IoT market is expected to grow from USD 54.6 billion in 2023 to USD 105.6 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 13.8% during the forecast period.
The global Industrial Internet of Things (IIoT) market size was valued at USD 216.8 billion in 2022 and is expected to expand at a CAGR of 29.4% from 2023 to 2030. The US accounted for the largest market share in 2022.
The US Industrial IoT market reached a value of USD 54.4 billion in 2022. Looking forward, IMARC Group expects the market to reach USD 114.8 billion by 2028, exhibiting a growth rate (CAGR) of 13.4% during 2023-2028.
The Industrial IoT market in the US is driven by the increasing adoption of IoT devices in various industries such as manufacturing, healthcare, and energy. The market is expected to grow significantly during the forecast period.
The global Industrial IoT market size was USD 150.3 billion in 2022 and is projected to reach USD 387.8 billion by 2029, exhibiting a CAGR of 24.3% during the forecast period. The US market is expected to hold a significant share.
The Industrial Internet of Things (IIoT) refers to the integration of IoT technologies into industrial applications. The US government is investing in IIoT research and development to improve the competitiveness of US industries.
The Industrial IoT market is expected to experience significant growth in 2023, driven by the increasing adoption of IoT devices and the development of new technologies such as 5G and edge computing.
This report provides an in-depth analysis of the Industrial IoT market, including market size, share, trends, and forecast. The report covers the US market and provides insights into the competitive landscape and key players.