The enterprise IoT market size is projected to rise from USD 595.42 billion in 2023 and it is expected to surpass USD 2,021.19 billion by 2033. The enterprise IoT industry is expected to rise at a significant CAGR of 13% during the forecast period.
Some prominent factors driving the demand for enterprise IoT are:
The growing demand for connected devices is a major trend driving the growth of the enterprise IoT industry. The increasing adoption of IoT technology in various industries is leading to the proliferation of connected devices, which are being used to collect and transmit data, enabling real-time monitoring and control of various processes.
Big data analytics is another key trend driving the growth of the enterprise IoT industry. The vast amounts of data generated by connected devices are being used to gain insights and improve decision-making in various industries, including manufacturing, healthcare, and transportation.
Cloud computing is also playing a crucial role in the growth of the enterprise IoT industry. Cloud-based services are being used to store, process, and analyze the large amounts of data generated by connected devices, providing enterprises with the scalability and flexibility they need to manage the growth of their IoT deployments.
The increasing adoption of IoT technology in the healthcare and manufacturing industries is expected to drive the growth of the enterprise IoT industry. IoT-enabled devices and systems are being used to improve patient care and increase efficiency in healthcare, while in manufacturing, IoT-enabled systems are being used to optimize production processes and improve supply chain management.
| Report Attributes | Details |
|---|---|
| Enterprise IoT Market Value (2023) | USD 595.42 billion |
| Enterprise IoT Market CAGR (2023 to 2033) | 13% |
| Anticipated Enterprise IoT Market Value (2033) | USD 2,021.19 billion |
According to Future Market Insights, the enterprise IoTs industry has been on a steady growth trajectory, with a CAGR of 11% from USD 312.7 billion in 2017 to USD 526.92 billion in 2022.
Governments around the world are investing in smart city initiatives to improve the quality of life for citizens and increase the efficiency of public services. This includes the deployment of IoT-enabled systems for transportation, energy management, and public safety, which is likely to drive the growth of the enterprise IoT industry.
| Attribute | Valuation |
|---|---|
| 2025 | USD 760.29 billion |
| 2028 | USD 1097.02 billion |
| 2032 | USD 1788.66 billion |
The market is anticipated to rise at a CAGR of 13% from 2023 to 2033, surpassing USD 2,021.19 billion by 2033.
Short term (2022 to 2025): The retail sector is increasingly adopting IoT-enabled systems for inventory management, which allows them to track products in real time, improve supply chain management, and reduce costs. This trend is expected to continue in the short term, driving the growth of the enterprise IoT industry.
The hardware segment accounted for the largest revenue share of more than 45% in 2022 and is likely to dominate the market over the forecast period. The hardware for enterprise IoT includes sensors, switching, routers, gateways, embedded ICs, etc. The growth in the hardware segment is due to the increasing requirement for continuous access and control over IoT devices which is expected to fuel the segment's growth over the forecast period.
On the other hand, the software and solutions segment is expected to rise at the fastest rate with a CAGR of 15% during the forecast period. The widespread adoption of professional IoT services among enterprises, such as deployment and integration services, consulting services, and support and maintenance services, is one of the primary factors driving the market growth.
The small and medium-sized enterprise segment accounted for the largest market share of 68% in 2022 and is predicted to lead the market from 2023 to 2033. The segment recorded a notable market revenue of USD 331 billion in 2022. The increase is attributed to an increase in government initiatives to help small and medium-sized businesses expand digitally.
On the other hand, the large enterprise segment is expected to witness the highest CAGR of 15% from 2023 to 2033. The growth in this segment can be attributed to the rising use of big data and insight-based opportunistic markets for large enterprises. Furthermore, to meet the needs of multi-regional and multinational enterprises, IoT service providers are focusing on improving products and services through enhanced offerings such as business process integration and service management, which is expected to benefit the enterprise IoT industry in the long run.
The manufacturing segment registered the largest market share of 26% in 2022. The rise of the concept of industry 4.0 is a major driver of enterprise IoT manufacturing applications. The combination of cyber-physical systems, IoS (Internet of Services), and IoT creates the reality of industry 4.0 and smart factories, in which industries operate at full capacity while producing minimal waste, making it relatively sustainable.
On the other hand, the transport segment accounted for the highest CAGR of 18% over the forecast period. The enterprise IoT application is expected to transform the logistics and transport industry with the emerging use of online fleet management systems. The online fleet system provides access to onboard connectivity and real-time data, which ultimately improves transportation efficiency and safety. As a result, the benefits of IoT, such as eliminating potential delays, efficient inventory management, and improved safety through driver assistance features, among other things, drive demand in the transportation segment.
The United States enterprise IoT industry is projected to register a CAGR of over 15% from 2023 to 2033. The United States is a major player in the enterprise IoT market, with a large number of companies and organizations investing in IoT technology to improve operational efficiency and stay competitive. The US government is also promoting the adoption of IoT and other advanced technologies through various initiatives and investments, which is further propelling the market growth. The country is known for its strong technological infrastructure, which allows for the seamless integration and deployment of IoT solutions. In addition, the thriving startup ecosystem in the US is leading to the development of innovative IoT solutions and services, further driving the market growth.
The United Kingdom enterprise IoT industry is expected to register a CAGR of 12% from 2023 to 2033. The United Kingdom is a major player in the enterprise IoT market in Europe, with a large number of companies and organizations investing in IoT technology to improve operational efficiency and stay competitive. The UK government is also promoting the adoption of IoT and other advanced technologies through various initiatives and investments, which is further propelling the market growth. The country is known for its strong technological infrastructure and its desire to stay at the forefront of technological advancements. In addition, the UK's strong emphasis on data privacy and security regulations is leading to the development of secure and reliable IoT solutions.
Japan's enterprise IoT industry is anticipated to rise at a CAGR of over 14.5% from 2023 to 2033. Japan is a major player in the enterprise IoT market in the Asia Pacific, with a large number of companies and organizations investing in IoT technology to improve operational efficiency and stay competitive. The country is known for its advanced technology infrastructure and its urge to adopt new technologies.
The government is also promoting the adoption of IoT and other advanced technologies through various initiatives and investments, which is further propelling the market growth. The country's industries, particularly manufacturing and transportation, have been early adopters of IoT-powered automation to improve efficiency and reduce costs. In addition, the aging population in Japan is driving the adoption of IoT in healthcare, as the technology is being used to improve patient care and monitor the health of the elderly population.
China's enterprise IoT industry is likely to register a CAGR of over 16% from 2023 to 2033. China is a major player in the enterprise IoT market in the Asia Pacific, with a large number of companies and organizations investing in IoT technology to improve operational efficiency and stay competitive. The country is known for its advanced technology infrastructure and its urge to adopt new technologies. The government is also promoting the adoption of IoT and other advanced technologies through various initiatives and investments, which is further propelling the market growth. The country's smart city initiatives, particularly in cities such as Beijing and Shanghai, are driving the adoption of IoT in transportation, energy management, and public safety. In addition, the Chinese government's "Made in China 2025" plan is promoting the adoption of IoT in manufacturing and other industries to improve efficiency and reduce costs.
The enterprise IoT industry is highly competitive, with major players constantly looking for ways to gain a larger share of the market. Some of the growth strategies adopted by leading players in the industry include:
In terms of innovations and developments, some of the leading players in the enterprise IoT industry have made significant advancements in areas such as:
Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033
Table 2: Global Market Value (US$ Million) Forecast by Component, 2018 to 2033
Table 3: Global Market Value (US$ Million) Forecast by Enterprise Type, 2018 to 2033
Table 4: Global Market Value (US$ Million) Forecast by End-use, 2018 to 2033
Table 5: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 6: North America Market Value (US$ Million) Forecast by Component, 2018 to 2033
Table 7: North America Market Value (US$ Million) Forecast by Enterprise Type, 2018 to 2033
Table 8: North America Market Value (US$ Million) Forecast by End-use , 2018 to 2033
Table 9: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 10: Latin America Market Value (US$ Million) Forecast by Component, 2018 to 2033
Table 11: Latin America Market Value (US$ Million) Forecast by Enterprise Type, 2018 to 2033
Table 12: Latin America Market Value (US$ Million) Forecast by End-use , 2018 to 2033
Table 13: Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 14: Europe Market Value (US$ Million) Forecast by Component, 2018 to 2033
Table 15: Europe Market Value (US$ Million) Forecast by Enterprise Type, 2018 to 2033
Table 16: Europe Market Value (US$ Million) Forecast by End-use , 2018 to 2033
Table 17: South Asia Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 18: South Asia Market Value (US$ Million) Forecast by Component, 2018 to 2033
Table 19: South Asia Market Value (US$ Million) Forecast by Enterprise Type, 2018 to 2033
Table 20: South Asia Market Value (US$ Million) Forecast by End-use , 2018 to 2033
Table 21: East Asia Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 22: East Asia Market Value (US$ Million) Forecast by Component, 2018 to 2033
Table 23: East Asia Market Value (US$ Million) Forecast by Enterprise Type, 2018 to 2033
Table 24: East Asia Market Value (US$ Million) Forecast by End-use , 2018 to 2033
Table 25: Oceania Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 26: Oceania Market Value (US$ Million) Forecast by Component, 2018 to 2033
Table 27: Oceania Market Value (US$ Million) Forecast by Enterprise Type, 2018 to 2033
Table 28: Oceania Market Value (US$ Million) Forecast by End-use , 2018 to 2033
Table 29: MEA Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 30: MEA Market Value (US$ Million) Forecast by Component, 2018 to 2033
Table 31: MEA Market Value (US$ Million) Forecast by Enterprise Type, 2018 to 2033
Table 32: MEA Market Value (US$ Million) Forecast by End-use , 2018 to 2033
Figure 1: Global Market Value (US$ Million) by Component, 2023 to 2033
Figure 2: Global Market Value (US$ Million) by Enterprise Type, 2023 to 2033
Figure 3: Global Market Value (US$ Million) by End-use , 2023 to 2033
Figure 4: Global Market Value (US$ Million) by Region, 2023 to 2033
Figure 5: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033
Figure 8: Global Market Value (US$ Million) Analysis by Component, 2018 to 2033
Figure 9: Global Market Value Share (%) and BPS Analysis by Component, 2023 to 2033
Figure 10: Global Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033
Figure 11: Global Market Value (US$ Million) Analysis by Enterprise Type, 2018 to 2033
Figure 12: Global Market Value Share (%) and BPS Analysis by Enterprise Type, 2023 to 2033
Figure 13: Global Market Y-o-Y Growth (%) Projections by Enterprise Type, 2023 to 2033
Figure 14: Global Market Value (US$ Million) Analysis by End-use , 2018 to 2033
Figure 15: Global Market Value Share (%) and BPS Analysis by End-use , 2023 to 2033
Figure 16: Global Market Y-o-Y Growth (%) Projections by End-use , 2023 to 2033
Figure 17: Global Market Attractiveness by Component, 2023 to 2033
Figure 18: Global Market Attractiveness by Enterprise Type, 2023 to 2033
Figure 19: Global Market Attractiveness by End-use , 2023 to 2033
Figure 20: Global Market Attractiveness by Region, 2023 to 2033
Figure 21: North America Market Value (US$ Million) by Component, 2023 to 2033
Figure 22: North America Market Value (US$ Million) by Enterprise Type, 2023 to 2033
Figure 23: North America Market Value (US$ Million) by End-use , 2023 to 2033
Figure 24: North America Market Value (US$ Million) by Country, 2023 to 2033
Figure 25: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 26: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 27: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 28: North America Market Value (US$ Million) Analysis by Component, 2018 to 2033
Figure 29: North America Market Value Share (%) and BPS Analysis by Component, 2023 to 2033
Figure 30: North America Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033
Figure 31: North America Market Value (US$ Million) Analysis by Enterprise Type, 2018 to 2033
Figure 32: North America Market Value Share (%) and BPS Analysis by Enterprise Type, 2023 to 2033
Figure 33: North America Market Y-o-Y Growth (%) Projections by Enterprise Type, 2023 to 2033
Figure 34: North America Market Value (US$ Million) Analysis by End-use , 2018 to 2033
Figure 35: North America Market Value Share (%) and BPS Analysis by End-use , 2023 to 2033
Figure 36: North America Market Y-o-Y Growth (%) Projections by End-use , 2023 to 2033
Figure 37: North America Market Attractiveness by Component, 2023 to 2033
Figure 38: North America Market Attractiveness by Enterprise Type, 2023 to 2033
Figure 39: North America Market Attractiveness by End-use , 2023 to 2033
Figure 40: North America Market Attractiveness by Country, 2023 to 2033
Figure 41: Latin America Market Value (US$ Million) by Component, 2023 to 2033
Figure 42: Latin America Market Value (US$ Million) by Enterprise Type, 2023 to 2033
Figure 43: Latin America Market Value (US$ Million) by End-use , 2023 to 2033
Figure 44: Latin America Market Value (US$ Million) by Country, 2023 to 2033
Figure 45: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 48: Latin America Market Value (US$ Million) Analysis by Component, 2018 to 2033
Figure 49: Latin America Market Value Share (%) and BPS Analysis by Component, 2023 to 2033
Figure 50: Latin America Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033
Figure 51: Latin America Market Value (US$ Million) Analysis by Enterprise Type, 2018 to 2033
Figure 52: Latin America Market Value Share (%) and BPS Analysis by Enterprise Type, 2023 to 2033
Figure 53: Latin America Market Y-o-Y Growth (%) Projections by Enterprise Type, 2023 to 2033
Figure 54: Latin America Market Value (US$ Million) Analysis by End-use , 2018 to 2033
Figure 55: Latin America Market Value Share (%) and BPS Analysis by End-use , 2023 to 2033
Figure 56: Latin America Market Y-o-Y Growth (%) Projections by End-use , 2023 to 2033
Figure 57: Latin America Market Attractiveness by Component, 2023 to 2033
Figure 58: Latin America Market Attractiveness by Enterprise Type, 2023 to 2033
Figure 59: Latin America Market Attractiveness by End-use , 2023 to 2033
Figure 60: Latin America Market Attractiveness by Country, 2023 to 2033
Figure 61: Europe Market Value (US$ Million) by Component, 2023 to 2033
Figure 62: Europe Market Value (US$ Million) by Enterprise Type, 2023 to 2033
Figure 63: Europe Market Value (US$ Million) by End-use , 2023 to 2033
Figure 64: Europe Market Value (US$ Million) by Country, 2023 to 2033
Figure 65: Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 66: Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 67: Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 68: Europe Market Value (US$ Million) Analysis by Component, 2018 to 2033
Figure 69: Europe Market Value Share (%) and BPS Analysis by Component, 2023 to 2033
Figure 70: Europe Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033
Figure 71: Europe Market Value (US$ Million) Analysis by Enterprise Type, 2018 to 2033
Figure 72: Europe Market Value Share (%) and BPS Analysis by Enterprise Type, 2023 to 2033
Figure 73: Europe Market Y-o-Y Growth (%) Projections by Enterprise Type, 2023 to 2033
Figure 74: Europe Market Value (US$ Million) Analysis by End-use , 2018 to 2033
Figure 75: Europe Market Value Share (%) and BPS Analysis by End-use , 2023 to 2033
Figure 76: Europe Market Y-o-Y Growth (%) Projections by End-use , 2023 to 2033
Figure 77: Europe Market Attractiveness by Component, 2023 to 2033
Figure 78: Europe Market Attractiveness by Enterprise Type, 2023 to 2033
Figure 79: Europe Market Attractiveness by End-use , 2023 to 2033
Figure 80: Europe Market Attractiveness by Country, 2023 to 2033
Figure 81: South Asia Market Value (US$ Million) by Component, 2023 to 2033
Figure 82: South Asia Market Value (US$ Million) by Enterprise Type, 2023 to 2033
Figure 83: South Asia Market Value (US$ Million) by End-use , 2023 to 2033
Figure 84: South Asia Market Value (US$ Million) by Country, 2023 to 2033
Figure 85: South Asia Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 86: South Asia Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 87: South Asia Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 88: South Asia Market Value (US$ Million) Analysis by Component, 2018 to 2033
Figure 89: South Asia Market Value Share (%) and BPS Analysis by Component, 2023 to 2033
Figure 90: South Asia Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033
Figure 91: South Asia Market Value (US$ Million) Analysis by Enterprise Type, 2018 to 2033
Figure 92: South Asia Market Value Share (%) and BPS Analysis by Enterprise Type, 2023 to 2033
Figure 93: South Asia Market Y-o-Y Growth (%) Projections by Enterprise Type, 2023 to 2033
Figure 94: South Asia Market Value (US$ Million) Analysis by End-use , 2018 to 2033
Figure 95: South Asia Market Value Share (%) and BPS Analysis by End-use , 2023 to 2033
Figure 96: South Asia Market Y-o-Y Growth (%) Projections by End-use , 2023 to 2033
Figure 97: South Asia Market Attractiveness by Component, 2023 to 2033
Figure 98: South Asia Market Attractiveness by Enterprise Type, 2023 to 2033
Figure 99: South Asia Market Attractiveness by End-use , 2023 to 2033
Figure 100: South Asia Market Attractiveness by Country, 2023 to 2033
Figure 101: East Asia Market Value (US$ Million) by Component, 2023 to 2033
Figure 102: East Asia Market Value (US$ Million) by Enterprise Type, 2023 to 2033
Figure 103: East Asia Market Value (US$ Million) by End-use , 2023 to 2033
Figure 104: East Asia Market Value (US$ Million) by Country, 2023 to 2033
Figure 105: East Asia Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 106: East Asia Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 107: East Asia Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 108: East Asia Market Value (US$ Million) Analysis by Component, 2018 to 2033
Figure 109: East Asia Market Value Share (%) and BPS Analysis by Component, 2023 to 2033
Figure 110: East Asia Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033
Figure 111: East Asia Market Value (US$ Million) Analysis by Enterprise Type, 2018 to 2033
Figure 112: East Asia Market Value Share (%) and BPS Analysis by Enterprise Type, 2023 to 2033
Figure 113: East Asia Market Y-o-Y Growth (%) Projections by Enterprise Type, 2023 to 2033
Figure 114: East Asia Market Value (US$ Million) Analysis by End-use , 2018 to 2033
Figure 115: East Asia Market Value Share (%) and BPS Analysis by End-use , 2023 to 2033
Figure 116: East Asia Market Y-o-Y Growth (%) Projections by End-use , 2023 to 2033
Figure 117: East Asia Market Attractiveness by Component, 2023 to 2033
Figure 118: East Asia Market Attractiveness by Enterprise Type, 2023 to 2033
Figure 119: East Asia Market Attractiveness by End-use , 2023 to 2033
Figure 120: East Asia Market Attractiveness by Country, 2023 to 2033
Figure 121: Oceania Market Value (US$ Million) by Component, 2023 to 2033
Figure 122: Oceania Market Value (US$ Million) by Enterprise Type, 2023 to 2033
Figure 123: Oceania Market Value (US$ Million) by End-use , 2023 to 2033
Figure 124: Oceania Market Value (US$ Million) by Country, 2023 to 2033
Figure 125: Oceania Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 126: Oceania Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 127: Oceania Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 128: Oceania Market Value (US$ Million) Analysis by Component, 2018 to 2033
Figure 129: Oceania Market Value Share (%) and BPS Analysis by Component, 2023 to 2033
Figure 130: Oceania Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033
Figure 131: Oceania Market Value (US$ Million) Analysis by Enterprise Type, 2018 to 2033
Figure 132: Oceania Market Value Share (%) and BPS Analysis by Enterprise Type, 2023 to 2033
Figure 133: Oceania Market Y-o-Y Growth (%) Projections by Enterprise Type, 2023 to 2033
Figure 134: Oceania Market Value (US$ Million) Analysis by End-use , 2018 to 2033
Figure 135: Oceania Market Value Share (%) and BPS Analysis by End-use , 2023 to 2033
Figure 136: Oceania Market Y-o-Y Growth (%) Projections by End-use , 2023 to 2033
Figure 137: Oceania Market Attractiveness by Component, 2023 to 2033
Figure 138: Oceania Market Attractiveness by Enterprise Type, 2023 to 2033
Figure 139: Oceania Market Attractiveness by End-use , 2023 to 2033
Figure 140: Oceania Market Attractiveness by Country, 2023 to 2033
Figure 141: MEA Market Value (US$ Million) by Component, 2023 to 2033
Figure 142: MEA Market Value (US$ Million) by Enterprise Type, 2023 to 2033
Figure 143: MEA Market Value (US$ Million) by End-use , 2023 to 2033
Figure 144: MEA Market Value (US$ Million) by Country, 2023 to 2033
Figure 145: MEA Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 146: MEA Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 147: MEA Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 148: MEA Market Value (US$ Million) Analysis by Component, 2018 to 2033
Figure 149: MEA Market Value Share (%) and BPS Analysis by Component, 2023 to 2033
Figure 150: MEA Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033
Figure 151: MEA Market Value (US$ Million) Analysis by Enterprise Type, 2018 to 2033
Figure 152: MEA Market Value Share (%) and BPS Analysis by Enterprise Type, 2023 to 2033
Figure 153: MEA Market Y-o-Y Growth (%) Projections by Enterprise Type, 2023 to 2033
Figure 154: MEA Market Value (US$ Million) Analysis by End-use , 2018 to 2033
Figure 155: MEA Market Value Share (%) and BPS Analysis by End-use , 2023 to 2033
Figure 156: MEA Market Y-o-Y Growth (%) Projections by End-use , 2023 to 2033
Figure 157: MEA Market Attractiveness by Component, 2023 to 2033
Figure 158: MEA Market Attractiveness by Enterprise Type, 2023 to 2033
Figure 159: MEA Market Attractiveness by End-use , 2023 to 2033
Figure 160: MEA Market Attractiveness by Country, 2023 to 2033
North America and Asia Pacific are the top regions for market adoption.
Data-driven decision-making and business model transformation through IoT adoption are becoming increasingly important.
The Industrial IoT (IIoT) segment is now in the lead.
The rise of edge computing for real-time data processing is the key trend.
The market is fueling digital transformation by boosting operational effectiveness and enabling new business models through data-driven insights.
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