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.

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.

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 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).

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.

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...

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.

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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 IoT Market size was valued at USD 4.0 Bn in 2022 and is projected to grow from USD 177.51 Bn in 2025 to USD 654.84 Bn by 2032, with CAGR of 20.5%.

Industrial IoT Market by Component (Hardware, Platform, Services, Connectivity), Industry (Agriculture, Manufacturing, Energy & Utilities, Oil & Gas, Aerospace, Retail, Transportation & Logistics, Others) Geography - Global Forecast to 2031

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 Industrial Internet of Things (IIoT) Market is anticipated to cross USD 630 Billion by 2029, increasing from USD 320.56 Billion in 2023 with 12.24% CAGR by 2024-29.

The global industrial IoT market size USD 87.31 Billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 6.70% to reach USD 167.00 Billion by 2034.

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.

India Industrial IOT Market is predicted to grow at faster CAGR during the forecast period due to rising cloud computing platforms and increasing in the adoption of smart devices.

The statistic shows the value of the industrial Internet of Things (IoT) market in Mexico in 2016 as well as a forecast for 2022. The source projected the value would increase from **** billion U.S. dollars in 2016 to **** billion U.S. dollars in 2022.

Explore insights from Market Research Intellect's Industrial IoT (IIoT) Market Report, valued at USD 130 billion in 2024, expected to reach USD 250 billion by 2033 with a CAGR of 8.5% during 2026-2033.Uncover opportunities across demand patterns, technological innovations, and market leaders.

The 5G Industrial IOT Market is estimated to be valued at USD 2.3 billion in 2025 and is projected to reach USD 25.4 billion by 2035, registering a compound annual growth rate (CAGR) of 26.9% over the forecast period.

The 5G Industrial IoT market is booming, projected to reach $15.92B in 2025 with a 36.37% CAGR. Discover key drivers, trends, and restraints shaping this explosive growth across manufacturing, healthcare, and smart cities. Explore leading companies and regional market insights. Recent developments include: July 2024 - Three leading telecom operators from Korea - SK Telecom, KT, and LG Uplus - have teamed up with the Radio Promotion Association of Korea (RAPA). Their goal is to bolster small and medium-sized enterprises (SMEs) by disseminating vital 5G IoT-related technical specifications. This initiative seeks to empower SMEs, equipping them to develop 5G IoT products that effortlessly connect with telecommunication networks., July 2024 - Ericsson, in collaboration with e& United Arab Emirates (UAE), has successfully validated the Reduced Capability (RedCap) software solution on e&'s 5G Standalone (5G SA) network. This achievement signifies the debut of Ericsson's RedCap solution in a commercial network within the Middle East and Africa region (MEA). RedCap empowers 5G IoT devices, including wearables and industrial sensors, to function with diminished complexity and size. This advancement boosts cost efficiency and battery longevity, all while ensuring adequate data speeds., March 2024 - Nokia has entered into a strategic partnership with Sterlite Technologies (STL) to reshape networking and digital solutions for government institutions and enterprises. Their primary focus is on projects driven by government connectivity initiatives. This collaboration is poised to accelerate the Industry 4.0 revolution, empowering businesses with a competitive advantage through cutting-edge technologies. The Nokia-STL alliance is dedicated to enhancing enterprise networks, guaranteeing swift, reliable, and low-latency connections. These enhancements cater to 5G, IoT, data center interconnectivity, supply chain optimization, real-time data analytics, and generative AI applications., February 2024 - In a strategic move, US operator Verizon has joined forces with Japan's KDDI to provide connectivity in North America for an upcoming electric vehicle from Sony Honda Mobility (SHM), a joint venture between Sony and Honda. Under this collaboration, Verizon is set to provide cellular IoT and broadband connectivity for SHM's newly launched AFEELA line of electric vehicles.. Key drivers for this market are: The Ability of 5G Technology to Handle Millions of IoT Connected Devices, Advantages of 5G over LTE for Low Latency and Critical Applications. Potential restraints include: The Ability of 5G Technology to Handle Millions of IoT Connected Devices, Advantages of 5G over LTE for Low Latency and Critical Applications. Notable trends are: Automotive Industry is Expected to Witness Significant Growth Rate.

Learn more about the Industrial IoT Platform Market Report by Market Research Intellect, which stood at USD 25 billion in 2024 and is forecast to expand to USD 60 billion by 2033, growing at a CAGR of 12%.Discover how new strategies, rising investments, and top players are shaping the future.