Internet of Things (IoT) is gaining popularity by the day. And, this is translating into growth statistics for the technology. In 2019, for instance, about 26.66 billion IoT devices were in use. And, as per a latest study, by 2025, the number would be up to 75 billion. It is not surprising considering that some 127 new per second are being connected.
And, while this includes both industry-based and end-consumer based, statistics, these show a decent picture for understanding the demand curve for industrial PCs. It is important to note here that as Internet of Things is adopted by a plethora of industries such as manufacturing, transportation, food and beverage, and for use in applications such as surveillance, and automation, demand for industrial PCs will see a steep upward curve between 2017 and 2025.
As per a Transparency Market Research report, the global industrial PC market is set to grow at an impressive CAGR (Compound Annual Growth Rate) of 10.7%, accruing a worth of USD 8784.2 million by the end of the forecast period.
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Asia Pacific (APAC) Region to Lead the Global Market in Terms of Regional Growth over the Forecast Period
Over the last few years, Europe has held a dominant position in the global industrial PC market. And, this growth in the region was majorly attributable to a strong presence of prominent market place. In 2016 itself, North American region and European region generated market worth to the tune of USD 1226.9 million, and USD 1280.5 million, respectively. And, by 2026, it will be up to USD 2541.2 million, and USD 2576.2 million, respectively.
However, topping the charts, region-wise, would actually be the Asia Pacific region, which will chart a significant CAGR over the forecast period, owing to rapid adoption of advanced technology, including IoT, across a number of industry verticals.