Northbrook, IL 60062 -- (SBWIRE) -- 11/09/2023 -- The first industrial revolution took place in the UK in the 18th century. Since then, the UK has played an integral role in the evolution of industrial operations.
The global Industrial IoT Market size is projected to USD 106.1 billion by 2026 from USD 88.2 billion in 2023 at a compound annual growth rate (CAGR) of 6.7% during the forecast period.
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The growth of the IIoT industry is driven by factors such as technological advancements in semiconductor and electronic devices, increased use of cloud computing platforms, standardization of IPv6, and support from governments of different countries for R&D activities related to IIoT.
IoT is considered as the prime stimulator for the next industrial revolution, that is, Industry 4.0, and the UK is expected to play a significant role in this. ARM Ltd., a leading provider of processor architecture for smartphones and tablets, is based in the country. The UK Government is supporting developments and innovations in IoT solutions, especially for the energy sector. It is also encouraging the implementation of IoT in other verticals, such as security, transportation, healthcare, retail, and manufacturing.
TOP INDUSTRIAL IOT COMPANIES -
KEY MARKET PLAYERS
The leading players in the market are
- Huawei (China),
- Cisco (US),
- GE (US),
- Intel (US),
- Rockwell Automation (US),
- ABB (Switzerland),
- Texas Instruments (US),
- Honeywell (US),
- IBM (US),
- KUKA AG(Germany),
- NEC Corporation (Japan),
- Bosch.IO (Germany),
- Siemens AG (Germany), and
- SAP (Germany).