Here’s a concise brief based on the linked report (Fortune Business Insights, updated Apr 30, 2025):

• Market size and growth

  • 2024: USD 349.48B
  • 2025: USD 394.35B
  • 2032: USD 998.99B
  • CAGR (2025–2032): 14.2%

• Key growth drivers and trends

  • Adoption of AI/ML, cloud, Big Data analytics, and IoT (including M2M and M2P data flows)
  • Expansion of 5G enabling low-latency connectivity for IIoT/edge
  • Post-COVID automation push to build resilience in manufacturing and supply chains
  • Government and corporate investments to digitize factories and MSMEs/SMEs

• Market constraints

  • Integration complexity with legacy systems and multi-vendor stacks
  • High upfront capex and skills shortages
  • Cybersecurity and data governance concerns

• Scope and segmentation

  • Component: Solutions and Services
  • Deployment: Cloud and On-Premises
  • Enterprise size: Large Enterprises; Small & Medium Enterprises
  • Industry: Discrete Industry and Process Industry
  • Regions covered: North America, Europe, Asia Pacific, South America, Middle East (country breakouts include U.S., Japan, Germany, U.K., France, Canada, Italy, Australia, South Korea, Saudi Arabia, China, Spain, India, UAE, Brazil, Mexico)

• Representative vendors cited

  • ABB Ltd., Siemens, Robert Bosch, Honeywell International Inc., Fanuc Corporation (among others)

Would you like a 1-page slide-style summary with a segment-by-segment outlook and vendor landscape, or a deeper dive into a specific region or industry (e.g., automotive vs. process industries)?