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Industrial IoT - Africa
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- The African Industrial IoT market is anticipated to witness a substantial growth in revenue, with projections indicating a staggering amount of US$4.43bn by the year 2025.
- This market market is expected to maintain a steady annual growth rate (CAGR 2025-2029) of 16.38%, ultimately leading to a market volume of US$8.13bn by 2029.
- When compared on a global scale, United States is predicted to generate the highest revenue in the Industrial IoT market sector, with an estimated amount of US$99.75bn by 2025.
- This highlights the dominant position of the United States in the global Industrial IoT market.
- In Africa's Industrial IoT market, Nigeria is emerging as a key player, with its growing manufacturing sector driving demand for IoT solutions.
- XMO_HIGHLIGHTS_PROMOTED_REGIONS
- United Kingdom,
- India,
- South Korea,
- China,
- France
Definition:
The Industrial IoT (IIoT) refers to use of internet to control and optimize the industrial machinery environment such as the one found in factories, warehouses, and transportation systems. The IoT market is defined by revenues generated specifically from components and services that enable connectivity and intelligence. IIoT involves connecting machines, equipment, and other devices to the internet and each other, allowing them to gather and exchange data in real-time, and help in management of various aspects of industrial operations, including production lines, inventory management, equipment maintenance, and energy use.
The Industrial IoT market is defined by revenues generated specifically from components and services that enable connectivity and intelligence. These include hardware (e.g., sensors, chips, and other IoT-specific components), platforms (e.g., IoT platforms, security software), connectivity solutions (e.g., cellular, LoRa, SigFox), and services (e.g., equipment/system integration and maintenance).
For example, in the case of a smart security camera, only the IoT-related portion of the product contributes to the IoT revenue. This includes the components and features that make the camera "smart" and capable of connecting to the internet (such as IoT sensors or connectivity modules), but not the full price of the camera itself.
Additional information:
The Internet of Things market compromise of revenue and revenue growth as the key performance indicators. Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.
The key market players include General Electric (GE), Siemens, Schneider Electric and Bosch.
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In-Scope
- Remote monitoring Industrial devices
- Industrial sensors for temperature, humidity or chemical levels
- Supply chain optimization devices
Out-Of-Scope
- Telematics devices
- Fleet management system devices
