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The global industrial internet of things market is projected to register a moderate CAGR of 26.0% over the forecast period. The market is segmented on the basis of component, application, and region. The components include hardware, sensors, services, software and connectivity. The applications include manufacturing, energy & power, oil & gas, healthcare, logistics & transport. In December 2018, General Electric Company announced that it establishes a new, independent company focused on building a comprehensive Industrial Internet of Things software portfolio.