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Industrial Internet of Things (IIoT) Market is Expected to Surpass USD 191.6 Billion Valuation by 2031, Rise of Automation in Manufacturing to Boost Expansion| SkyQuest Technology

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WESTFORD, Mass., July 4, 2024 /PRNewswire/ — According to SkyQuest, the global Industrial Internet of Things (IIoT) Market was valued at USD 102.48 Billion in 2022 and is expected to rise from USD 109.86 Billion in 2023 to reach a value of USD 191.6 Billion by 2031, at a CAGR of 7.2% during the forecast period (2024-2031).

The rapid adoption of smart manufacturing practices in multiple industries and growing demand for automation have set the tone for industrial internet of things (IIoT) market growth. IIoT devices and solutions are specifically designed to enhance industrial operations and promote operational efficiency and productivity as well. Advancements in IoT and IoT connectivity technologies are also slated to create new business scope for industrial internet of things (IIoT) companies in the future.  The global industrial internet of things (IIoT) market is segmented into component, technology, connectivity technology, software, vertical, and region.

Download a detailed overview:

https://www.skyquestt.com/sample-request/industrial-internet-of-things-iiot-market

Industrial Internet of Things (IIoT) Market Overview: 

Report Coverage

Details

Market Revenue in 2023

$ 109.86 billion

Estimated Value by 2031

$ 191.6 billion

Growth Rate

Poised to grow at a CAGR of 7.2%

Forecast Period

2024–2031

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Component, Technology, Connectivity Technology, Software and Vertical

Geographies Covered

North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Report Highlights

Development of novel blockchain AI solutions that give benefits of both technologies involved

Key Market Opportunities

Adoption of Smart Initiatives

Key Market Drivers

Implementation of IPV6

Segments covered in Industrial Internet of Things (IIoT) Market are as follows:

ComponentHardware, Platform, Solution, and ServicesTechnologySensor, Radio Frequency Identification (RFID), Industrial Robotics, Distributed Control System and OtherConnectivity TechnologyWired Technology and Wireless TechnologySoftwareVisualization Software, SCADA, Distribution Management System, Farm Management Systems and OtherVerticalManufacturing, Energy, Oil & Gas, HealthCare, Retail, Transportation, Metal & Mining, Agriculture

Request Free Customization of this report:

https://www.skyquestt.com/speak-with-analyst/industrial-internet-of-things-iiot-market

Hardware Components Slated to Bring in Most Revenue Owing to Development of IIoT Infrastructure

Industrial internet of things (IIoT) requires specialized connected devices made from dedicated sensors and controllers. Growing investments in the development of new IIoT infrastructure are projected to bolster the demand for hardware components and allow this segment to lead the market in terms of revenue generation. Advancements in connectivity technologies are also predicted to bolster the demand for novel IIoT hardware components across the forecast period and beyond.

Meanwhile, industrial internet of things (IIoT) companies can also invest in the development of novel platforms and services to strengthen their business potential. The need for IIoT platforms and services will only get stronger by the day as the adoption of IoT technology in industrial settings increases.

Manufacturing to Take the Crown for Industrial Internet of Things (IIoT) Sales Owing to the Rise of Smart Factories

The manufacturing industry vertical is estimated to take center stage when it comes to industrial internet of things (IIoT) adoption. High demand for better productivity and operational efficiency in manufacturing facilities is estimated to make this segment a highly lucrative one. From remote monitoring to predictive maintenance, all of these features can only be added to a manufacturing facility through the use of industrial internet of things (IIoT). Energy and oil & gas industry verticals are also forecasted to provide moneymaking opportunities for industrial internet of things (IIoT) companies in the future as digitization increases in them. Apart from these industry verticals, industrial internet of things (IIoT) providers can also explore retail, healthcare, agriculture, and transportation industry verticals to maximize their business scope and boost revenue generation going forward.

View report summary and Table of Contents (TOC):

https://www.skyquestt.com/report/industrial-internet-of-things-iiot-market

Wireless Connectivity to Gain Prominence with the Advent of 5G Technology

Advancements in technology have created novel wireless technologies used for connected devices. The need for the elimination of wires is projected to drive the demand for wireless connectivity in industrial internet of things (IIoT) devices. 5G is the key wireless connectivity technology that is projected to help the wireless segment become the most rewarding for market players over the coming years.

Industrial internet of things providers will need to choose their strategies carefully if they want to succeed in this business. Industrial internet of things (IIoT) companies can get good returns on their investments if they target the manufacturing industry as the trend of automation catches up. Developing new IIoT hardware devices and components will also help industrial internet of things (IIoT) companies expand their business potential on a global level. 

Related Reports:

Internet Of Things (IoT) Market

IoT Security Market 

Narrowband-IoT (NB-IoT) Market

Consumer IoT Market

Internet of Things (IoT) in Smart Cities Market 

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 

Contact:
Mr. Jagraj Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/

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Technology

Monnit Introduces NIST Detachable Leads to Streamline Compliance Monitoring

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New hot-swappable lead architecture reduces downtime, simplifies recertification, and helps organizations maintain continuous monitoring.

SALT LAKE CITY, June 18, 2026 /PRNewswire/ — Monnit announced new NIST Standard and Low Temperature and Humidity Detachable Leads for compatible ALTA® Sensor Bases designed to simplify sensor recertification, reduce downtime, and support continuous compliance monitoring.

“Organizations shouldn’t have to choose between maintaining compliance and operational continuity,” said Brad Walters, Founder and CEO of Monnit. “Our detachable lead architecture allows customers to hot-swap certified leads in minutes while preserving traceability and keeping trusted monitoring programs running.”

Each NIST Detachable Lead is uniquely calibrated and designed to support traceability requirements aligned with the National Institute of Standards and Technology (NIST) standards.

Rather than removing and shipping an entire sensor for recertification, customers can disconnect only the lead, connect a certified replacement, and send the original lead for recalibration. This approach is ideal for pharmaceuticals, healthcare facilities, laboratories, food storage operations, manufacturing environments, and other applications that require calibration records.

In addition to these hot-swappable, removable leads or cables with probes, we offer short Monnit Standard Temperature and Humidity Detachable Non-Leaded Probes that you can connect to compatible sensor bases.

Each NIST Detachable Lead or Probe connects to compatible ALTA Industrial and Enterprise Sensor Bases via sealed, keyed M8 6-pin connectors designed for field installation. Embedded memory within the lead stores unique lead and sensor identification, calibration data, certification information, and traceability records.

Key features and benefits include:

Hot-swappable lead replacement that minimizes downtime and monitoring interruptionsNIST-traceable calibration support and ISO 17025-accredited lab certificationSupport for FDA 21 CFR Part 11 workflows and audit programsAutomatic synchronization of calibration information with iMonnit® SoftwareLogging of lead connection and disconnection events in iMonnitHot-swapping capability while powered on or off for easier servicing

Monnit and its accredited lab partner, Sensor Calibrations, provide 25-month certificates for NIST Detachable Standard Temperature Leads and 13-month certificates for NIST Detachable Low Temperature and Humidity Leads.

Compatible ALTA Sensor Bases automatically recognize connected lead types and maintain digital maintenance records, helping organizations avoid monitoring gaps caused by traditional recertification.

About Monnit Corporation
The origin story of the Internet of Things (IoT) begins with Monnit. Before our inception in 2010, we were already at the forefront of embedding technology into machines and devices to enable them to talk and deliver valuable data to business leaders. Monnit Remote Monitoring Solutions for nearly any industry use case have delivered 72B+ data points in 130+ countries for 90K+ customers. Monnit’s 80+ long-range IoT sensors remotely monitor many conditions such as temperature, light, humidity, water, vibration, pressure, and more. You can analyze data using iMonnit cloud software and get alerts via email, text, push notification, or call when our sensors detect a change you should know.

Media Contact:
David Hill
Marketing Communications
801-505-8172
417089@email4pr.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/monnit-introduces-nist-detachable-leads-to-streamline-compliance-monitoring-302803906.html

SOURCE Monnit

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Technology

Monnit Introduces NIST Detachable Leads to Streamline Compliance Monitoring

Published

on

By

New hot-swappable lead architecture reduces downtime, simplifies recertification, and helps organizations maintain continuous monitoring.

SALT LAKE CITY, June 18, 2026 /PRNewswire/ — Monnit announced new NIST Standard and Low Temperature and Humidity Detachable Leads for compatible ALTA® Sensor Bases designed to simplify sensor recertification, reduce downtime, and support continuous compliance monitoring.

“Organizations shouldn’t have to choose between maintaining compliance and operational continuity,” said Brad Walters, Founder and CEO of Monnit. “Our detachable lead architecture allows customers to hot-swap certified leads in minutes while preserving traceability and keeping trusted monitoring programs running.”

Each NIST Detachable Lead is uniquely calibrated and designed to support traceability requirements aligned with the National Institute of Standards and Technology (NIST) standards.

Rather than removing and shipping an entire sensor for recertification, customers can disconnect only the lead, connect a certified replacement, and send the original lead for recalibration. This approach is ideal for pharmaceuticals, healthcare facilities, laboratories, food storage operations, manufacturing environments, and other applications that require calibration records.

In addition to these hot-swappable, removable leads or cables with probes, we offer short Monnit Standard Temperature and Humidity Detachable Non-Leaded Probes that you can connect to compatible sensor bases.

Each NIST Detachable Lead or Probe connects to compatible ALTA Industrial and Enterprise Sensor Bases via sealed, keyed M8 6-pin connectors designed for field installation. Embedded memory within the lead stores unique lead and sensor identification, calibration data, certification information, and traceability records.

Key features and benefits include:

Hot-swappable lead replacement that minimizes downtime and monitoring interruptionsNIST-traceable calibration support and ISO 17025-accredited lab certificationSupport for FDA 21 CFR Part 11 workflows and audit programsAutomatic synchronization of calibration information with iMonnit® SoftwareLogging of lead connection and disconnection events in iMonnitHot-swapping capability while powered on or off for easier servicing

Monnit and its accredited lab partner, Sensor Calibrations, provide 25-month certificates for NIST Detachable Standard Temperature Leads and 13-month certificates for NIST Detachable Low Temperature and Humidity Leads.

Compatible ALTA Sensor Bases automatically recognize connected lead types and maintain digital maintenance records, helping organizations avoid monitoring gaps caused by traditional recertification.

About Monnit Corporation
The origin story of the Internet of Things (IoT) begins with Monnit. Before our inception in 2010, we were already at the forefront of embedding technology into machines and devices to enable them to talk and deliver valuable data to business leaders. Monnit Remote Monitoring Solutions for nearly any industry use case have delivered 72B+ data points in 130+ countries for 90K+ customers. Monnit’s 80+ long-range IoT sensors remotely monitor many conditions such as temperature, light, humidity, water, vibration, pressure, and more. You can analyze data using iMonnit cloud software and get alerts via email, text, push notification, or call when our sensors detect a change you should know.

Media Contact:
David Hill
Marketing Communications
801-505-8172
417089@email4pr.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/monnit-introduces-nist-detachable-leads-to-streamline-compliance-monitoring-302803906.html

SOURCE Monnit

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Technology

deepset Joins HPE’s Unleash AI Program to Accelerate Sovereign Agentic AI

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SAN JOSE, Calif., June 18, 2026 /PRNewswire/ — deepset, the company behind Haystack, the production-ready open-source AI agent framework and platform, today announced it has joined the HPE Unleash AI partner program to help government, defense, and regulated enterprises deploy production-grade AI systems in sovereign, self-hosted, and air-gapped environments.

As part of the collaboration, deepset will leverage the Haystack Enterprise Platform, deepset’s platform for building, orchestrating, and governing AI agents and applications, and HPE’s AI ecosystem and infrastructure portfolio to help organizations rapidly identify and operationalize high-value AI use cases while reducing deployment complexity and risk. This enables customers to access AI-ready infrastructure, strategic guidance, and accelerated pilot execution to address their most challenging AI adoption and operationalization needs.

Together, the companies enable organizations to deploy AI agents, multi-agent systems, and Retrieval-Augmented Generation (RAG) applications on self-hosted, sovereign, and air-gapped infrastructure while maintaining full ownership over sensitive and classified data, models, and AI operations.

Customers can leverage the joint architecture to operationalize governed AI applications faster while maintaining the security, compliance, and deployment flexibility required for sovereign and mission-critical environments.

The HPE Unleash AI partner program is a curated ecosystem, combining ISV solutions that go through comprehensive validation testing with engineered HPE AI systems, including HPE Private Cloud AI and the broader HPE AI Factory with NVIDIA solutions, to deliver the performance, security, and scalability enterprises need for production AI. By joining the program, deepset expands access to governed AI platform capabilities designed for organizations operating in highly regulated environments, including public sector, defense, cybersecurity, and enterprise industries.

The Haystack Enterprise Platform enables organizations to:

Build and govern AI agents, multi-agent systems, and RAG applicationsDeploy AI on self-hosted, private cloud, and air-gapped infrastructureOrchestrate modular AI pipelines across models, databases, and enterprise systemsEnforce governance, auditability, and lifecycle management for production AISupport sovereign AI initiatives aligned with European and national security requirements

The collaboration builds on deepset’s experience supporting sovereign AI initiatives with organizations including the European Commission, the German Ministry of Research, Technology and Space (BMFTR), and other government, defense, and enterprise organizations deploying sovereign AI systems under strict governance and security requirements.

“With agentic AI moving into operational deployment, organizations need infrastructure and AI platforms they can control and trust,” said Milos Rusic, CEO and co-founder of deepset. “The challenge is getting agentic systems into production while maintaining control over infrastructure, governance, and sensitive data. Together with HPE, we’re helping customers deploy governed AI systems faster across highly regulated and mission-critical environments.”

Use cases supported through the joint architecture include:

Sovereign AI platform for public sector & regulated industry institutionsSovereign AI intelligence and decision-support systems for classified operationsCybersecurity investigation and threat analysisAI agents for technology, manufacturing, research, legal, and financial workflows

“The Unleash AI program is designed to help organizations deploy AI solutions faster and with greater operational confidence,” said Robin Braun, Vice President of AI Business Development, Hybrid Cloud, HPE. “Together, HPE and deepset are delivering secure, governed AI solutions that combine enterprise-grade infrastructure with flexible and governed AI agent capabilities to help customers operationalize AI across hybrid, sovereign, and classified environments.”

For more information, visit https://www.deepset.ai

About deepset

deepset is the company behind Haystack, the leading open-source framework and platform for building production-grade AI applications and agentic systems. deepset enables enterprises and public sector organizations to develop, deploy, and govern flexible AI applications powered by their choice of large language models, enterprise data, infrastructure, and governance policies across cloud, hybrid, and sovereign environments.

Media Contact
Steph McGuirk
417109@email4pr.com
845.269.8868

View original content to download multimedia:https://www.prnewswire.com/news-releases/deepset-joins-hpes-unleash-ai-program-to-accelerate-sovereign-agentic-ai-302803905.html

SOURCE deepset

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