The industrial IoT market is expected to surpass over $1 trillion by 2028 as the need for greater efficiency and control in industrial operations, such as production processes and robotics, continues to grow.
By providing industrial companies with a common way to access, manage and visualize IoT data, as well as build and deploy IoT applications, industrial IoT (IIoT) platforms help manufacturing companies achieve their biggest goals.
IIoT consists of connected devices specifically within industrial applications, with a strong focus on machine-to-machine communication, big data and machine learning.
The global market for the Internet of Things was $263 billion in 2021, according to statista.com, with the IIoT market expected to reach $1.1 trillion by 2028.
The market is growing as it combines IT and operational technology (OT) together, with the convergence providing industries with better system integration for automation and optimization, as well as better visibility of the supply chain and logistics.
As part of CRN’s 2022 Internet of Things 50 list, here are 10 hot IIoT companies this year that are driving innovation.