target audience: TECH BUYER Publication date: Dec 2024 - Document type: IDC MarketScape - Doc Document number: # US52036924
IDC MarketScape: Worldwide Industrial Internet of Things Platforms and Applications 2024 Vendor Assessment
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Abstract
This IDC study evaluates key Industrial IoT platforms and applications for 2024, highlighting significant growth driven by AI, edge devices, and data integration. It emphasizes the importance of data-driven operations, digital transformation, and Industry 5.0's human-centric approach. The document also addresses challenges such as data reliability, cybersecurity, and interoperability. Key strategic priorities include supply chain optimization, smart automation, product innovation, AI integration, and sustainability. The assessment criteria focus on platform functionality, integration capabilities, customer service, pricing models, and AI development.
"The IoT market is projected to exceed $1.29 trillion by 2028, driven by advancements in AI, edge devices, and increased IoT integration. Industrial IoT platforms and applications have enhanced their capabilities, focusing on data gathering, analytics, and user-friendly dashboards for data presentation. Tech buyers seeking solutions for asset management and data interpretation from IoT systems will find a variety of options available in the current IIoT platform and applications marketplace," says Carlos M. González, research manager, Industrial IoT and Intelligence Strategies.