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Industrial Internet of Things (IIoT) Market Size & Insights

The Global Industrial Internet of Things (IIoT) Market size was valued at around USD 414.05 billion in 2024 and is expected to reach USD 2334.44 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 33.41% during the forecast period, i.e., 2025-30.

The market has been significantly fueled by rising investments in technologies in an effort to have to develop the nations worldwide & the emergence of big data analytics. The two main factors propelling industry expansion are a high level of intelligent automation, declining operational costs, and the expanding industrial IoT. Additionally, it is anticipated that by 2030, there will be over 120 billion IoT devices online, further generating a demand curve for this technology. Moreover, technological advancement & the use of AI, ML, and robotics in the sectors such as manufacturing, oil & gas, healthcare, agriculture, and others are some of the key contributing factors to the market growth of industrial IoT worldwide. The proliferating 3D printing technology in developed countries in manufacturing automotive components, healthcare equipment, etc., is also adding pace to the market.

What are the Key DROs in the Industrial Internet of Things (IIoT) Market?

Frequent Deployment of AI, ML, and IoT in the Manufacturing Industry – The adoption of AI & IOT technologies in the manufacturing sector has risen dramatically over the past few years. This is in line with the advent of Industry 4.0. Systems powered by AI & the Internet of Things (IoT), make it possible to optimize manufacturing procedures, give out early warnings, foresee or anticipate equipment or machinery breakdown, and gather comprehensive data, thus helping manufacturers work more fluidly. Additionally, in industrial units, jobs like conditioning monitoring & equipment maintenance are carried out using AI & ML algorithms in the absence of normal personnel. Hence, owing to the listed factors, it is anticipated that the integration of AI, ML, and IoT in the industrial sector would drive the Global Industrial Internet of Things Market in the future years as well.

What are the Key Segments in the Industrial Internet of Things (IIoT) Market?

The Industrial Internet of Things (IIoT) is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

By Components

• Hardware

  • Sensors

  • RFID

  • Industrial Robotics

  • Distributed Control Systems

  • Condition Monitoring

  • Smart Meters

  • Electronic Shelf Labels

  • Cameras

  • Smart Beacons

  • Interface Boards

  • Yield Monitors

  • Guidance and Steering

  • Flow & Application Control Devices

  • Networking Component

• Software & Services

By Connectivity

• Wired Technologies

  • Ethernet

  • Modbus

  • Profinet

  • Foundation Field Bus

• Wireless Technologies

  • Wi-Fi

  • Zigbee

  • Bluetooth

  • Cellular Technologies

  • Satellite Technologies

By Application

• Product Lifecycle Management

• Manufacturing and Executions Systems

• Supervisory Control and Data Acquisition (SCADA)

• Outage Management Systems

• Distribution Management Systems

• Remote Monitoring

• Retail Management

• Transit Management Systems

• Predictive Maintenance

• Others (Visualization Software, Farm Management, etc.)

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By End Users

• Manufacturing

  • Automotive

  • Machinery

  • Food & Beverages

  • Chemicals and Materials

  • Electrical and Electronics

  • Pharmaceuticals

• Energy

• Oil & Gas

• Metal & Mining

• Healthcare

• Retail

• Transportation

• Agriculture

The Manufacturing sector is expected to account for the most prominent market share & to grow with the highest growth rate in the future year.

How does geographical analysis highlight in the Industrial Internet of Things (IIoT) market?

By Region

• North America

• South America

• Europe

• Middle East & Africa

• Asia-Pacific

Asia-Pacific is predicted to hold a significant market share in terms of value during the forthcoming period. The region is a hub for industrial manufacturing, hence is the focal point for several business expansions & investments.

Who are the Key Players in Industrial Internet of Things (IIoT) Market?

• Cisco Systems, Inc.

• GE

• Honeywell

• Intel

• IBM

• ABB

• Telefonica

• Robert Bosch

• Rockwell Automation

• Siemens

• Accenture

• Capgemini

• Texas Instrument

• ARM Holding

• PTC

• HCL

• Maverick and others.

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Industrial Internet of Things (IIoT) Market News

• 2025: ABB collaborated with Microsoft to integrate Azure OpenAI Service into its ABB Ability Genix Platform, improving AI analytics for predictive maintenance and reducing equipment downtime by up to 25-30%.

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