The global Industrial IoT market size is projected to grow from USD 76.4 billion in 2023 to USD 150.5 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 14.1% during the forecast period. The United States is expected to hold the largest market size in North America.
The U.S. Industrial IoT market size was valued at USD 54.3 billion in 2022 and is expected to expand at a CAGR of 15.6% from 2023 to 2030. The growth can be attributed to the increasing adoption of IoT devices in the manufacturing sector.
The Industrial IoT market in the United States is driven by the growing demand for predictive maintenance, quality control, and supply chain management. The market size is expected to reach USD 100 billion by 2025, growing at a CAGR of 13.2% from 2023 to 2025.
The United States Industrial IoT market size was USD 60.3 billion in 2022 and is projected to reach USD 144.8 billion by 2029, exhibiting a CAGR of 14.5% during the forecast period. The market growth can be attributed to the increasing adoption of Industry 4.0 technologies.
NIST is working to develop and deploy IIoT technologies that can improve the efficiency, productivity, and safety of industrial systems. The United States government has launched several initiatives to promote the adoption of IIoT in various industries.
The U.S. IIoT market is expected to grow from USD 55.6 billion in 2023 to USD 141.2 billion by 2028, at a CAGR of 14.9% during the forecast period. The market growth can be attributed to the increasing demand for industrial automation and digital transformation.
The Industrial IoT market in the United States is driven by the growing demand for IoT-based solutions in the manufacturing, oil and gas, and healthcare sectors. The market size is expected to reach USD 120 billion by 2027, growing at a CAGR of 13.5% from 2023 to 2027.
Cisco offers a range of IIoT solutions for smart manufacturing, including IoT sensors, gateways, and networking equipment. The company provides industrial IoT solutions to various industries, including manufacturing, oil and gas, and utilities.