Download free rise of industry gog2/1/2024 ![]() Thus, the market for industrial IoT has evolved immensely owing to various factors and revolutions taking place in the industrial sector worldwide. The rise in the adoption of digital transformation by various industries is supporting the widespread use of IoT in the industrial sector. ![]() Industrial IoT (IIoT) refers to a network of interconnected devices used for designing, maintaining, monitoring, optimizing, and analyzing the industrial operations to gain real-time insights and make effective decisions. London, J(GLOBE NEWSWIRE) - According to a new market research report titled, “ Industrial IoT Market by Component, Application (Robotics, Maintenance, Monitoring, Resource Optimization, Supply Chain, Management), Industry (Aerospace, Automotive, Energy, Healthcare, Manufacturing, Retail), and Geography – Global Forecast to 2027 ”, the industrial IoT market is expected to grow at a CAGR of 16.7% from 2019 to 2027 to reach $263.4 billion by 2027.
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