The Industrial Internet of Things Market Report is Segmented by Component (Hardware, Software, and Services and Connectivity), Deployment Model (On-Premises, Cloud, and Hybrid/Edge-Cloud), Connectivity Technology (Wired, Short-Range Wireless, Cellular, and LPWAN), End-User Vertical (Discrete Manufacturing, Process Manufacturing, Oil and Gas, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

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Industrial Internet Of Things (IoT) Market Size 2025-2029

The industrial internet of things (IoT) market size is valued to increase USD 195.8 billion, at a CAGR of 14.8% from 2024 to 2029. Growth in industrial automation will drive the Industrial Internet of Things (IoT) market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 43% growth during the forecast period.
By End-user - Manufacturing segment was valued at USD 28.50 billion in 2023
By Component - Hardware segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 262.15 billion
Market Future Opportunities: USD 195.80 billion
CAGR : 14.8%
APAC: Largest market in 2023

Market Summary

The market encompasses a dynamic and continuously evolving landscape, driven by the integration of core technologies such as artificial intelligence, machine learning, and advanced sensors into industrial processes. IoT applications span various sectors, including manufacturing, transportation, energy, and healthcare, with a growing emphasis on improving operational efficiency and productivity. According to recent studies, the industrial automation segment is expected to dominate the market, accounting for over 40% of the total IoT spending. The evolving global device manager market is another significant factor, with an increasing number of organizations recognizing the need for efficient management of their IoT initiatives and investments.
However, the market faces challenges, such as the lack of awareness and understanding of IoT technologies among businesses and the need for robust security measures to protect against cyber threats. Despite these challenges, opportunities abound, including the potential for predictive maintenance, real-time data analysis, and enhanced supply chain visibility. With the increasing adoption of IoT technologies, the market is poised for significant growth, offering numerous benefits to businesses across industries.

What will be the Size of the Industrial Internet Of Things (IoT) Market during the forecast period?

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How is the Industrial Internet Of Things (IoT) Market Segmented and what are the key trends of market segmentation?

The industrial internet of things (IoT) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Manufacturing
  Automotive and transportation
  Energy and utilities
  Healthcare
  Others


Component

  Hardware
  Software
  Services
  Platforms


Connectivity

  Wired
  Wireless


Deployment

  On-cloud
  On-premises


Organization Size

  Large Enterprises
  Small and Medium Enterprises (SMEs)


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    Australia
    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By End-user Insights

The manufacturing segment is estimated to witness significant growth during the forecast period.

In the dynamic and evolving market, data visualization dashboards play a pivotal role in making informed business decisions. IoT sensors are integrated into various industries, including machinery, food and beverage, chemicals and materials, and electrical and electronics, to monitor equipment performance and optimize processes. High-performance computing and distributed ledger technology facilitate real-time data processing and secure transactions. Operational efficiency improvements are achieved through the implementation of manufacturing execution systems, software-defined networking, and data acquisition systems. Time series databases and edge computing devices enable sensor data fusion, while cloud computing platforms offer scalability and flexibility. Anomaly detection methods and network security protocols ensure data security and privacy.

Remote monitoring systems and digital twin technology provide insights into industrial processes, enabling predictive maintenance models and process optimization techniques. Industrial control systems and energy management systems are enhanced through IoT integration, leading to significant energy savings. Low-power wide-area networks facilitate seamless connectivity, while machine learning algorithms and real-time data processing optimize performance and reduce downtime. Despite the numerous benefits, cybersecurity threats pose a challenge to IoT adoption. Data stream mining and big data analytics help businesses gain valuable insights from the vast amounts of data generated by IoT devices. System integration services ensure seamless implementation of IoT solutions, while smart factory impl

Industrial Internet Of Things (IIoT) Market size is expected to be worth around USD 758.8 billion by 2033 from USD 212.0 billion in 2023.

The global Industrial Internet of things (IIoT) market size reached USD 289.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 847.0 Billion by 2033, exhibiting a growth rate (CAGR) of 12.7% during 2025-2033. The market is driven by the growing number of smart cities, as they leverage IIoT to enhance efficiency, sustainability, and quality of life through interconnected systems and real-time data analytics, rising use of edge computing, and increasing reliance on 5G technology.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global and regional levels for 2025-2033. Our industrial IoT market report has categorized the market based on component and end user.

Industrial IoT Market surging fromUSD 386.11 billion to USD 3,179.26 billion by 2034 (23.5% CAGR). Get exclusive data on digital twins, 5G connectivity & machine learning disrupting global manufacturing

The Global Industrial Internet of Things (IIOT) Market is estimated to grow at a CAGR of around 33.41% during the forecast period 2025-30. Honeywell, Intel, IBM, ABB, Telefonica are top industry players.

The Industrial IoT Market is estimated to be valued at USD 556.6 billion in 2025 and is projected to reach USD 1744.2 billion by 2035, registering a compound annual growth rate (CAGR) of 12.1% over the forecast period.

As per Cognitive Market Research's latest published report, the Global Industrial Internet of Things market size was USD 403.61 billion in 2022 and it is forecasted to reach USD 1219.3 billion by 2030. Industrial Internet of Things Industry's Compound Annual Growth Rate will be 21.7% from 2023 to 2030. What is Driving the Industrial Internet of Things Market?

The increasing adoption of automation techniques used in various sectors such as manufacturing, automobile, and transportation. Furthermore, increasing advances in technology and increasing R&D activities with increasing government support are all driving the industrial IoT market. Moreover, the growing need to improve operational competence and simplify complex manufacturing processes is supporting market growth. What is the Industrial Internet of Things IIOT?

Industrial Internet of Things (IIoT) refers to the application of the Internet of Things (IoT) technology in industrial settings. It involves connecting a vast network of sensors, devices, and machinery to the Internet, allowing for real-time data collection, analysis, and communication. This data is then used to improve efficiency, optimize operations, and drive innovation in the industrial sector. To meet customer demands in an increasingly complex manufacturing landscape, even more capable automation technology is required. Manufacturing businesses are focusing more on adopting the Industrial Internet of Things stand to gain on all levels, ranging from production efficiency, customer satisfaction, and overarching business decisions. IIoT technology can be used to monitor the performance of machines, predict maintenance needs, and improve supply chain management. In the energy sector, IIoT can help optimize power generation and distribution. IIoT offers numerous benefits, such as improved productivity, increased reliability, reduced downtime, and enhanced safety. IIoT has the potential to significantly improve manufacturing and industrial processes by enabling real-time data collection and analysis, which can drive efficiency, productivity, and innovation.

Discover BCC Research's report on Industrial IoT Market report provides an overview of the industry and analyzes market trends Using 2022 as the base year.

The size of the Industrial Internet of Things market was valued at USD XXX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 34.41% during the forecast period. Recent developments include: February 2023: Cisco, a multinational digital communications technology conglomerate corporation, added new products to its suite of cloud tools to provide further visibility and control over networks. The new cloud management tools are designed for industrial IoT (IIoT) apps to simplify IT and OT operations dashboards and provide flexible network intelligence for industrial assets. The options will be made available through Cisco's IoT Operations Dashboard., February 2023: KORE, a global provider of IoT solutions and worldwide IoT Connectivity-as-a-Service (IoT CaaS), is set to unveil MODGo, its innovative software, at Mobile World Congress Barcelona. MODGo offers a cohesive digital strategy for IoT asset management, simplifying managed services and aiding organizations in navigating the complexities of IoT implementation and management. MODGo, a SaaS platform, streamlines IoT management by offering a unified solution for organizations. It simplifies device deployment, network connectivity, hardware configuration, inventory management, order handling, device monitoring, life cycle management, and reverse logistics, providing comprehensive control over the IoT ecosystem.. Key drivers for this market are: Proliferation of digitization and adoption of sensors in plants, Growing demand for automated and efficient process. Potential restraints include: Issues Related to Security and Privacy of Data and Connectivity of Devices and Interoperability. Notable trends are: Manufacturing to Hold Major Market Share.

The global market for industrial Internet of Things (IIoT) platforms and apps for manufacturing industries was sized at 4.4 billion U.S. dollars in 2021. The market is expected to grow in size in the coming years, reaching the size of 22.3 billion U.S. dollars in 2025.

Global Industrial Internet of Things (IoT) Market was valued at USD 130.27 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 7.02% through 2028.

Industrial IoT market report focuses on ecosystem, industry, and region. As per BIS Research analysis on Industrial internet of things (IIOT), the market is expected to grow at a CAGR of 8.67% during the forecast period from 2019 to 2024.

The global market for Internet of things (IoT) end-user solutions is expected to grow to *** billion U.S. dollars in size by the end of 2019. The technology reached *** billion dollars in market revenue for the first time in 2017, and forecasts suggest that this figure will grow to around *** trillion by 2025. The Internet of Things The Internet of Things (IoT) is a term used to describe the continually growing network of internet connected electronic devices that are in operation around the world today. These devices often share data and information in order to provide added convenience and control to consumers and, in some cases, even allow users automate simple processes such as ordering supplies. Tens of billions of these IoT connected devices already exist around the world and this number will only grow as internet connectivity begins to become a standard feature for a great number of electronics devices. Although heavily integrated into the consumer electronics market, IoT extends far beyond handheld devices and home appliances; IoT subsystems such as industrial internet and connected cities aim at automating factories and urban areas rather than just households. Digital virtual assistants such as Amazon’s Alexa and Google Assistant serve as the bridge between this network of interconnected devices and their human users.

Industrial Internet of Things (IIOT) Thermal Monitoring Solutions Market Global Trend and Opportunity Analysis with a focus on upcoming trends and growth...

The global market for industrial Internet of Things (IIoT) was sized at over 544 billion U.S. dollars in 2022. The market is expected to grow in size in the coming years, reaching some 3.3 trillion U.S. dollars by 2030.

Global industrial IoT Market size was valued at USD 304.5 Billion in 2024 and is forecasted to reach USD 1,195.6 Billion by 2034 at a CAGR of 14.7%. Industrial IoT report classifies global market by share, trend, and on the basis of type, application, and region | Industrial IoT (IIoT) Market | Indu...

The size of the Industrial Internet Of Things Market was valued at USD 65.7 billion in 2024 and is projected to reach USD 135.55 billion by 2033, with an expected CAGR of 10.9% during the forecast period. Key drivers for this market are: Rising Demand for Data-Driven Insights: The need for real-time data and actionable insights to optimize operations and decision-making is driving the adoption of IIoT solutions.

Government Initiatives: Government policies and initiatives aimed at promoting digital transformation and Industry 4.0 are fueling the growth of the IIoT market.

Technological Advancements: Continuous advancements in AI, machine learning, and IoT technologies are enhancing the capabilities and applications of IIoT solutions.

Increased Industrial Automation: The rising trend towards industrial automation is fueling the need for IIoT solutions to monitor, control, and optimize automated processes.

Cost Savings and Operational Efficiency: IIoT solutions offer significant cost savings through reduced downtime, increased efficiency, and improved decision-making.. Potential restraints include: Cybersecurity Concerns: The increased connectivity of IIoT devices and data sharing raises concerns about cybersecurity risks and data breaches, potentially hindering adoption.

Data Interoperability and Standardization: Lack of interoperability and standardization across IIoT platforms and devices can limit data sharing and system integration.

Skills and Talent Gap: The shortage of skilled professionals with knowledge of IIoT technologies and applications can slow down implementation and adoption.

High Investment Costs: The initial investment required to deploy IIoT solutions can be a barrier for some businesses, especially in capital-intensive industries.

Privacy and Data Ownership: Concerns about data privacy, ownership, and control can hinder the adoption of IIoT solutions in certain industries, such as healthcare.. Notable trends are: Digital Twin Technology: The use of digital twin technology to create virtual representations of physical assets and processes is gaining traction for predictive maintenance, remote monitoring, and process optimization.

Machine Learning and AI: Advancements in machine learning and AI are transforming IIoT solutions by enabling predictive analytics, anomaly detection, and automated decision-making.

Edge Computing: Edge computing technologies are becoming increasingly important for IIoT applications, providing real-time data processing and analysis capabilities at the device level.

5G Connectivity: The rollout of 5G networks is expected to further enhance the connectivity and capabilities of IIoT devices and solutions.

Industrial Metaverse: The concept of the industrial metaverse, where physical and digital worlds converge, is emerging as a potential game-changer for IIoT applications..

The Industrial Internet of Things (IIoT) market is booming, projected to reach $114.68 billion by 2025 with a 34.41% CAGR. Discover key drivers, trends, and restraints shaping this explosive growth across manufacturing, transportation, and other sectors. Learn about leading companies and regional market shares in this comprehensive analysis. Recent developments include: February 2023: Cisco, a multinational digital communications technology conglomerate corporation, added new products to its suite of cloud tools to provide further visibility and control over networks. The new cloud management tools are designed for industrial IoT (IIoT) apps to simplify IT and OT operations dashboards and provide flexible network intelligence for industrial assets. The options will be made available through Cisco's IoT Operations Dashboard., February 2023: KORE, a global provider of IoT solutions and worldwide IoT Connectivity-as-a-Service (IoT CaaS), is set to unveil MODGo, its innovative software, at Mobile World Congress Barcelona. MODGo offers a cohesive digital strategy for IoT asset management, simplifying managed services and aiding organizations in navigating the complexities of IoT implementation and management. MODGo, a SaaS platform, streamlines IoT management by offering a unified solution for organizations. It simplifies device deployment, network connectivity, hardware configuration, inventory management, order handling, device monitoring, life cycle management, and reverse logistics, providing comprehensive control over the IoT ecosystem.. Key drivers for this market are: Proliferation of digitization and adoption of sensors in plants, Growing demand for automated and efficient process. Potential restraints include: Proliferation of digitization and adoption of sensors in plants, Growing demand for automated and efficient process. Notable trends are: Manufacturing to Hold Major Market Share.

The UK industrial internet of things market size reached USD 9.53 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 28.40 Billion by 2033, exhibiting a growth rate (CAGR) of 12.90% during 2025-2033. The rising automation, the increasing demand for operational efficiency, the increased adoption of AI and machine learning in production, the growing demand for predictive maintenance, the improved connectivity through 5G, the common adoption of smart factories, and government incentives for digital transformation of industries are some of the key drivers fueling the UK industrial internet of things market growth.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional level for 2025-2033. Our report has categorized the market based on component, end user and region.