United Kingdom Industrial IoT Market Insights Forecasts to 2033

• The UK Industrial IoT Market Size was valued at USD 4.35 Billion in 2023.
• The Market Size is Growing at a CAGR of 11.51% from 2023 to 2033
• The UK Industrial IoT Market Size is Expected to reach USD 12.93 Billion by 2033

The U.K. Industrial IoT Market Size is Anticipated to Exceed USD 12.93 Billion by 2033, Growing at a CAGR of 11.51% from 2023 to 2033.  

Market Overview

Utilizing smart sensors, actuators, and various other connected gadgets to link consumers, goods, and processes and drive the digital revolution, the industrial Internet of Things (IIoT) is a key component of Industry 4.0 activities. Employing industrial IoT systems, businesses link, track, evaluate, and respond to industrial data in novel ways to enhance productivity, optimize revenue development, cut expenses, and more. These gadgets are connected via an internet connection to facilitate data gathering, sharing, and analysis. This technique's insights contribute to increased reliability as well as effectiveness. IIoT sometimes called the industrial internet, is utilized in a wide range of sectors, such as production, services, petroleum and natural gas, and power management.   

Report Coverage

This research report categorizes the market for the UK industrial IoT market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United Kingdom industrial IoT market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the U.K. industrial IoT market.

Driving Factors

Manufacturing robots are used in the automobile industry, and IIoT can assist in proactively managing these systems and identify possible issues before they might cause production disruptions. Certain oil corporations have a fleet of self-governing aircraft that employ thermal and optical sensors to identify any issues within pipelines. Companies can forecast when a machine requires maintenance by using real-time data produced by IIoT devices. The UK and the Netherlands have accelerated the adoption of the industrial Internet of Things in Europe. Utilization of the industrial Internet of Things is leading in the manufacturing process, housing, wellness, and financial industries, while the retailing and agricultural industries are also seeing strong growth.

Restraining Factors

One of the biggest challenges for UK market providers will be an overall absence of understanding regarding Internet of Things (IoT) devices. The majority of users, whether they are individuals or businesses, are still unaware of the advantages and drawbacks of utilizing their gadgets and network.

Market Segmentation

The UK industrial IoT market share is classified into component and end user.

• The hardware segment is expected to hold the greatest market share through the forecast period.    

The U.K. industrial IoT market is segmented by component into hardware, software, services, and connectivity. Among these, the hardware segment is expected to hold the greatest market share through the forecast period. The need for strong, dependable hardware alternatives that can survive challenging working conditions and effectively interconnect with current systems is being driven by the growth of smart sensors and linked devices in manufacturing industries.

• The manufacturing segment is anticipated to hold a significant share of the United Kingdom industrial IoT market during the forecast period.       

Based on the end user, the UK industrial IoT market is divided into manufacturing, energy & utilities, automotive & transportation, healthcare, and others. Among these, the manufacturing segment is anticipated to hold a significant share of the United Kingdom industrial IoT market during the forecast period. Through improved optimization of inventories, logistics management, and quality management, the Industrial Internet of Things enables adaptable manufacturing processes.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the U.K. industrial IoT market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• CalAmp
• FactoryTalk Optix
• Epicor Connected Process Control
• The Asset Guardian EAM
• dataPARC Historia
• Rayven
• Mingo Smart Factory
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at the UK, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the United Kingdom Industrial IoT Market based on the below-mentioned segments:

United Kingdom Industrial IoT Market, By Component

• Hardware
• Software
• Services
• Connectivity

United Kingdom Industrial IoT Market, By End User

• Manufacturing
• Energy & Utilities
• Automotive & Transportation
• Healthcare
• Others