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    US Industrial IoT Platform Market

    ID: MRFR/ICT/17235-HCR
    100 Pages
    Garvit Vyas
    October 2025

    US Industrial IoT Platform Market Research Report: By Application (Predictive Maintenance, Asset Tracking, Remote Monitoring, Supply Chain Management), By Component (Sensor, Connectivity Hardware, Platform Software, Analytics), By Deployment Model (On-Premise, Cloud-Based, Hybrid) and By End Use Industry (Manufacturing, Energy and Utilities, Transportation and Logistics, Healthcare) - Forecast to 2035

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    US Industrial IoT Platform Market Infographic
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    US Industrial IoT Platform Market Summary

    As per MRFR analysis, the US industrial iot-platform market Size was estimated at 10.56 USD Billion in 2024. The US industrial iot-platform market industry is projected to grow from 11.85 USD Billion in 2025 to 37.56 USD Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 12.23% during the forecast period 2025 - 2035.

    Key Market Trends & Highlights

    The US industrial IoT-platform market is experiencing robust growth driven by technological advancements and increasing demand for efficiency.

    • The largest segment in the US industrial IoT-platform market is the manufacturing sector, while the fastest-growing segment is the energy and utilities sector.
    • There is a notable trend towards the increased adoption of edge computing to enhance data processing capabilities.
    • A strong focus on cybersecurity solutions is emerging as organizations seek to protect their data and infrastructure from threats.
    • Key market drivers include the rising demand for real-time data analytics and advancements in sensor technology, which are shaping the market landscape.

    Market Size & Forecast

    2024 Market Size 10.56 (USD Billion)
    2035 Market Size 37.56 (USD Billion)

    Major Players

    Siemens (DE), General Electric (US), Honeywell (US), IBM (US), Cisco (US), Rockwell Automation (US), Schneider Electric (FR), PTC (US), Microsoft (US)

    US Industrial IoT Platform Market Trends

    The industrial iot-platform market is currently experiencing a transformative phase, driven by advancements in connectivity and data analytics. As industries increasingly adopt smart technologies, the integration of IoT platforms into manufacturing processes appears to enhance operational efficiency and reduce costs. This trend is likely to continue as organizations seek to leverage real-time data for decision-making and predictive maintenance. Furthermore, the emphasis on sustainability and energy efficiency is prompting companies to invest in IoT solutions that optimize resource usage and minimize waste. The ongoing digital transformation across various sectors suggests a robust growth trajectory for the industrial iot-platform market, as businesses recognize the potential of IoT to drive innovation and competitiveness. In addition, the regulatory landscape is evolving, with government initiatives aimed at promoting the adoption of smart technologies. This regulatory support may facilitate the development of standards and frameworks that enhance interoperability among different IoT systems. As a result, stakeholders in the industrial iot-platform market are likely to benefit from increased collaboration and integration, fostering a more cohesive ecosystem. Overall, the current dynamics indicate a promising future for the industrial iot-platform market, characterized by continuous innovation and a focus on sustainable practices.

    Increased Adoption of Edge Computing

    The trend towards edge computing is gaining momentum within the industrial iot-platform market. By processing data closer to the source, organizations can reduce latency and improve response times. This shift allows for more efficient data management and enhances the capabilities of IoT devices, leading to better real-time decision-making. As industries seek to optimize their operations, the integration of edge computing solutions is likely to become a standard practice.

    Focus on Cybersecurity Solutions

    As the industrial iot-platform market expands, the need for robust cybersecurity measures becomes increasingly critical. Organizations are recognizing the vulnerabilities associated with connected devices and are prioritizing the implementation of advanced security protocols. This focus on cybersecurity is essential to protect sensitive data and maintain operational integrity, suggesting that investments in security solutions will continue to rise.

    Integration of Artificial Intelligence

    The incorporation of artificial intelligence (AI) into the industrial iot-platform market is transforming how data is analyzed and utilized. AI technologies enable predictive analytics, which can enhance maintenance schedules and optimize production processes. This integration appears to be a key driver of innovation, as businesses leverage AI to gain insights from vast amounts of data, ultimately improving efficiency and productivity.

    US Industrial IoT Platform Market Drivers

    Advancements in Sensor Technology

    Advancements in sensor technology are playing a pivotal role in the growth of the industrial iot-platform market. The development of more sophisticated and cost-effective sensors enables manufacturers to collect vast amounts of data from their operations. These sensors facilitate real-time monitoring of equipment and processes, leading to improved predictive maintenance and reduced downtime. The integration of advanced sensors is expected to enhance the capabilities of IoT platforms, making them more attractive to businesses. As sensor technology continues to evolve, it is likely to drive further adoption of IoT solutions in the industrial sector.

    Government Initiatives and Funding

    Government initiatives aimed at promoting digital transformation in manufacturing are significantly impacting the industrial iot-platform market. Various federal and state programs are providing funding and resources to support the adoption of IoT technologies. For instance, the Department of Commerce has launched initiatives to enhance the competitiveness of U.S. manufacturers through advanced technologies. Such support is crucial, as it encourages small and medium-sized enterprises to invest in IoT solutions, thereby expanding the market. The financial backing from government sources is expected to contribute to a projected increase in market size, potentially reaching $50 billion by 2027.

    Growing Focus on Operational Efficiency

    The industrial iot-platform market is being driven by an increasing focus on operational efficiency among manufacturers. Companies are seeking to streamline processes, reduce waste, and enhance productivity through the implementation of IoT solutions. This drive for efficiency is often linked to the need for cost reduction and improved profit margins. As a result, many organizations are investing in IoT platforms that facilitate automation and real-time monitoring. Reports indicate that businesses adopting IoT technologies can achieve operational cost savings of up to 30%. This trend underscores the critical role of IoT in transforming traditional manufacturing practices.

    Rising Demand for Real-Time Data Analytics

    The industrial iot-platform market is experiencing a notable surge in demand for real-time data analytics. This trend is driven by the need for manufacturers to enhance operational efficiency and decision-making processes. Companies are increasingly leveraging data analytics to monitor equipment performance, predict maintenance needs, and optimize production schedules. According to recent estimates, the market for data analytics in industrial applications is projected to grow at a CAGR of approximately 25% over the next five years. This growth is indicative of the broader shift towards data-driven strategies within the industrial sector, which is likely to propel the industrial iot-platform market further.

    Increased Collaboration Between Industry and Technology Providers

    The industrial iot-platform market is witnessing increased collaboration between traditional manufacturing industries and technology providers. This partnership is essential for developing tailored IoT solutions that meet specific industry needs. By working together, manufacturers can leverage the expertise of technology firms to implement innovative IoT applications that enhance productivity and efficiency. Such collaborations are expected to lead to the creation of customized platforms that address unique operational challenges. As these partnerships grow, they are likely to foster a more robust ecosystem for the industrial iot-platform market, driving further innovation and adoption.

    Market Segment Insights

    By Application: Predictive Maintenance (Largest) vs. Remote Monitoring (Fastest-Growing)

    The market share distribution among the application segments reveals that predictive maintenance holds the largest share, primarily due to its critical role in minimizing downtime and reducing operational costs. In contrast, remote monitoring is emerging as a fast-growing segment, driven by the increasing need for real-time data access and management, pushing businesses towards investment in advanced IoT solutions. Growth trends indicate a significant shift towards automation and data-driven decision-making in the US industrial iot-platform market. Factors such as technological advancements in AI and machine learning are propelling predictive maintenance forward, while the demand for enhanced visibility and control in operations is fueling the rapid expansion of remote monitoring. Industries are increasingly recognizing the value of these applications in enhancing operational efficiency and competitiveness.

    Predictive Maintenance (Dominant) vs. Remote Monitoring (Emerging)

    Predictive maintenance is a dominant force in the application segment, characterized by its proactive approach to equipment management, utilizing data analytics to predict failures before they occur. This minimizes downtime and enhances productivity for manufacturers and service providers. On the other hand, remote monitoring is positioned as an emerging trend, providing companies with real-time visibility into their operations through IoT connectivity. It allows for timely intervention and efficiency improvements. Both segments emphasize the importance of data in decision-making, with predictive maintenance focusing on maintenance schedules and remote monitoring facilitating ongoing operational oversight, making them essential for modern industrial operations.

    By Component: Sensor (Largest) vs. Connectivity Hardware (Fastest-Growing)

    In the US industrial iot-platform market, the component segment demonstrates a diverse landscape with sensors taking the lead in market share. They play a crucial role in data collection and monitoring processes, confirming their position as the largest segment, while connectivity hardware has been gaining traction rapidly. With innovations and increasing investments in connectivity technologies, this segment is positioned for significant growth, which is evident in the rising demand for seamless data transfer in industrial environments. Examining growth trends within the component segment, sensor technology is mainly driven by the need for real-time monitoring and predictive maintenance, thus solidifying its dominant role. Conversely, the connectivity hardware sector is rapidly evolving, fueled by the advent of 5G technology and the expanding IoT ecosystem. This growth trajectory suggests that while sensors remain critical for operational efficiency, connectivity hardware is increasingly recognized as an essential enabler for future industrial advancements.

    Sensor (Dominant) vs. Connectivity Hardware (Emerging)

    Sensors represent the dominant force within the component segment, essential for facilitating data acquisition in various industrial applications. Their versatility and reliability make them indispensable for monitoring conditions like temperature, pressure, and vibration, thereby enhancing operational efficiency. On the other hand, connectivity hardware, while currently an emerging segment, is gaining momentum due to the rapid advancements in wireless communication technologies. This segment's growth is driven by the increasing need for robust connectivity solutions to support the deployment of intelligent systems and cloud-based analytics. The synergy between these segments underscores the critical relationship in the US industrial iot-platform market, as efficient data collection must be complemented by effective connectivity solutions to realize the full potential of industrial IoT.

    By Deployment Model: Cloud-Based (Largest) vs. Hybrid (Fastest-Growing)

    In the US industrial iot-platform market, the deployment model segment is predominantly occupied by the Cloud-Based approach, which has emerged as the largest segment due to its scalability, flexibility, and lower operational costs. On-Premise solutions hold a significant portion of the market as well, favored by enterprises requiring tighter control over their data and security. However, the Hybrid model has been gaining traction as organizations look to blend the benefits of both on-premise and cloud solutions, leading to a more diversified deployment strategy. Growth trends show that the Cloud-Based model is bolstered by increasing investments in cloud infrastructure and demand for real-time data analytics. Meanwhile, the Hybrid model is rapidly rising in popularity, driven by enterprises' desire to optimize their existing IT resources while enjoying the scalability of the cloud. This trend reflects a significant shift towards more flexible and integrated deployment options, catering to varying customer needs.

    Cloud-Based (Dominant) vs. Hybrid (Emerging)

    The Cloud-Based segment is characterized by its ability to deliver seamless and scalable IoT solutions, often attracting businesses looking to reduce IT costs and improve operational efficiency. This dominant segment benefits from advancements in cloud technology, such as enhanced data security and improved connectivity. On the other hand, the Hybrid deployment model is emerging as a strategic choice for organizations aiming to leverage both on-premise and cloud advantages. By adopting a Hybrid approach, companies can maintain sensitive data in-house while utilizing cloud resources for less critical operations, thus ensuring a balanced strategy that meets regulatory compliance and operational flexibility.

    By End Use Industry: Manufacturing (Largest) vs. Healthcare (Fastest-Growing)

    In the US industrial iot-platform market, the manufacturing sector holds the largest market share, driven by increasing automation and a push for enhanced productivity. This segment is characterized by a strong demand for data-driven insights that enable manufacturing facilities to optimize their operations and reduce downtime. In contrast, the healthcare segment is emerging rapidly, fueled by technological advancements like remote patient monitoring and data analytics, which enhance patient care and operational efficiency. As industries increasingly recognize the value of IoT solutions, the healthcare segment is poised for the fastest growth, with investments aimed at improving patient outcomes and streamlining operations. The integration of IoT in healthcare not only improves response times but also enables better resource management. Consequently, several healthcare providers are adopting IoT platforms to leverage data for informed decision-making, driving the need for sophisticated technology solutions in this sector.

    Manufacturing (Dominant) vs. Healthcare (Emerging)

    The manufacturing sector is dominant in the US industrial iot-platform market, characterized by advanced technology integration aimed at improving efficiency, reducing costs, and enhancing production processes. Manufacturing firms are increasingly leveraging IoT solutions to gather real-time data, allowing for agile production and maintenance strategies. This segment benefits from substantial investments in machinery and infrastructure which support IoT adoption. Conversely, the healthcare sector is emerging as a vital player in this market, focusing on innovative IoT applications for patient care and operational effectiveness. With the growing emphasis on telehealth and remote monitoring, healthcare providers are rapidly implementing IoT platforms. This segment represents a significant shift toward data-driven healthcare solutions and shows remarkable potential for growth as technology continues to evolve.

    Get more detailed insights about US Industrial IoT Platform Market

    Key Players and Competitive Insights

    The industrial IoT-platform market is characterized by a dynamic competitive landscape, driven by rapid technological advancements and increasing demand for automation across various sectors. Key players such as Siemens (DE), General Electric (US), and Honeywell (US) are strategically positioned to leverage their extensive portfolios and expertise in industrial automation. Siemens (DE) focuses on digital transformation and innovation, emphasizing the integration of AI and machine learning into its IoT solutions. General Electric (US) has adopted a strategy centered around partnerships and collaborations, enhancing its digital ecosystem through alliances with software developers and cloud service providers. Honeywell (US) is concentrating on sustainability and energy efficiency, aligning its IoT offerings with the growing emphasis on environmental responsibility. Collectively, these strategies shape a competitive environment that is increasingly focused on technological innovation and sustainability.

    In terms of business tactics, companies are localizing manufacturing and optimizing supply chains to enhance operational efficiency. The market structure appears moderately fragmented, with several key players exerting significant influence. This fragmentation allows for a diverse range of solutions, catering to various industrial needs while fostering competition among established and emerging players.

    In October 2025, Siemens (DE) announced a strategic partnership with a leading cloud provider to enhance its IoT platform capabilities. This collaboration aims to integrate advanced analytics and AI-driven insights into Siemens' offerings, potentially improving operational efficiencies for clients across multiple industries. The strategic importance of this partnership lies in its potential to position Siemens as a frontrunner in the digital transformation of industrial processes, thereby enhancing its competitive edge.

    In September 2025, General Electric (US) launched a new IoT platform designed specifically for the energy sector, focusing on predictive maintenance and real-time monitoring. This initiative is significant as it addresses the growing need for energy companies to optimize their operations and reduce downtime. By tailoring its solutions to specific industry needs, General Electric strengthens its market position and demonstrates its commitment to innovation in the industrial IoT space.

    In August 2025, Honeywell (US) unveiled a suite of IoT solutions aimed at improving sustainability in manufacturing processes. This move is particularly relevant as industries increasingly prioritize environmental impact. By aligning its product offerings with sustainability goals, Honeywell not only meets market demand but also enhances its brand reputation as a leader in responsible industrial practices.

    As of November 2025, current trends in the industrial IoT-platform market include a strong emphasis on digitalization, sustainability, and AI integration. Strategic alliances are increasingly shaping the competitive landscape, enabling companies to pool resources and expertise. Looking ahead, competitive differentiation is likely to evolve from traditional price-based competition to a focus on innovation, technology, and supply chain reliability. This shift underscores the importance of adaptability and forward-thinking strategies in maintaining a competitive advantage in a rapidly changing market.

    Key Companies in the US Industrial IoT Platform Market market include

    Industry Developments

    The US Industrial IoT Platform Market is witnessing rapid advancements and increasing competition among major players such as SAP, Dell Technologies, PTC, ABB, Oracle, Rockwell Automation, Hitachi Vantara, Cisco, IBM, Microsoft, AWS, General Electric, Honeywell, Siemens, and Schneider Electric. Recently, in September 2023, Microsoft announced an expansion of its Azure IoT platform, aimed at improving connectivity and offering enhanced data analytics for industrial applications, which reflects a growing demand for real-time monitoring and predictive maintenance. In July 2023, General Electric acquired a smaller technology firm specializing in Industrial IoT solutions to enhance its digital capabilities.

    In addition, Honeywell and Microsoft have collaborated closely on digital transformation initiatives, promoting smarter enterprise solutions. Over the past few years, the market has shown significant growth, with key events such as PTC’s initiatives in Augmented Reality and AI for improving manufacturing efficiency and Schneider Electric’s focus on sustainable IoT solutions. The surge in investment and technological innovation in this sector is directly linked to the increasing need for operational efficiency, reliability, and sustainability across manufacturing and industrial operations in the US.

    Future Outlook

    US Industrial IoT Platform Market Future Outlook

    The industrial IoT-platform market is projected to grow at a 12.23% CAGR from 2024 to 2035, driven by advancements in automation, data analytics, and connectivity solutions.

    New opportunities lie in:

    • Development of predictive maintenance solutions for manufacturing equipment.
    • Integration of AI-driven analytics for real-time decision-making.
    • Expansion of IoT security frameworks to protect industrial data.

    By 2035, the market is expected to achieve substantial growth, driven by innovation and strategic investments.

    Market Segmentation

    US Industrial IoT Platform Market Component Outlook

    • Sensor
    • Connectivity Hardware
    • Platform Software
    • Analytics

    US Industrial IoT Platform Market Application Outlook

    • Predictive Maintenance
    • Asset Tracking
    • Remote Monitoring
    • Supply Chain Management

    US Industrial IoT Platform Market Deployment Model Outlook

    • On-Premise
    • Cloud-Based
    • Hybrid

    US Industrial IoT Platform Market End Use Industry Outlook

    • Manufacturing
    • Energy and Utilities
    • Transportation and Logistics
    • Healthcare

    Report Scope

    MARKET SIZE 2024 10.56(USD Billion)
    MARKET SIZE 2025 11.85(USD Billion)
    MARKET SIZE 2035 37.56(USD Billion)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 12.23% (2024 - 2035)
    REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR 2024
    Market Forecast Period 2025 - 2035
    Historical Data 2019 - 2024
    Market Forecast Units USD Billion
    Key Companies Profiled Siemens (DE), General Electric (US), Honeywell (US), IBM (US), Cisco (US), Rockwell Automation (US), Schneider Electric (FR), PTC (US), Microsoft (US)
    Segments Covered Application, Component, Deployment Model, End Use Industry
    Key Market Opportunities Integration of advanced analytics and AI enhances operational efficiency in the industrial iot-platform market.
    Key Market Dynamics Rising demand for real-time data analytics drives innovation in the industrial IoT-platform market.
    Countries Covered US

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    FAQs

    What is the expected market size of the US Industrial IoT Platform Market in 2024?

    The US Industrial IoT Platform Market is expected to be valued at 10.9 billion USD in 2024.

    What will be the projected market size by 2035 for the US Industrial IoT Platform Market?

    The projected market size by 2035 for the US Industrial IoT Platform Market is 40.0 billion USD.

    What is the CAGR for the US Industrial IoT Platform Market from 2025 to 2035?

    The CAGR for the US Industrial IoT Platform Market from 2025 to 2035 is expected to be 12.546%.

    Which application segment holds the largest value in the market by 2024?

    By 2024, the Predictive Maintenance application segment holds the largest value at 3.0 billion USD.

    How much is the Supply Chain Management application expected to be valued at in 2035?

    The Supply Chain Management application is expected to be valued at 5.2 billion USD in 2035.

    Who are the key players in the US Industrial IoT Platform Market?

    Key players in the market include SAP, Dell Technologies, PTC, ABB, and Oracle.

    What is the projected market value for Remote Monitoring by 2035?

    The projected market value for Remote Monitoring by 2035 is 12.8 billion USD.

    What is the estimated market size for Asset Tracking in 2024?

    The estimated market size for Asset Tracking in 2024 is 2.5 billion USD.

    What are the growth drivers for the US Industrial IoT Platform Market?

    Growth drivers include increasing demand for automation, efficiency improvements, and enhanced data analytics.

    What challenges may impact the growth of the US Industrial IoT Platform Market?

    Challenges include security concerns, interoperability issues, and the high cost of IoT solution implementation.

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