Global Industrial Internet of Things Market Size is valued at USD 192.9 Bn in 2024 and is predicted to reach USD 445.9 Bn by the year 2034 at a 9.0% CAGR during the forecast period for 2025-2034.
The implimentation of Internet of Things (IoT) technology into industrial and manufacturing processes is known as Industrial Internet of Things (IIoT), or Industrial IoT. The Industrial Internet of Things (IIoT) improves automation, efficiency, and production by allowing for the real-time monitoring and analysis of industrial operations. Essential elements include of intelligent devices, sophisticated connection, data analysis, and automation systems, facilitated by cloud and edge computing for data processing.
The advantages of Industrial Internet of Things (IIoT) encompass enhanced operational efficiency, less downtime, and energy conservation. This is a revolutionary technical notion. The desire to increase productivity and efficiency as well as government measures to promote industrial automation are major drivers driving the growth of this market. Investments in Industry 4.0 technologies are also developing. However the IIoT market's expansion is constrained by a lack of standardization and expensive capital and operating expenditure needs.
Additionally, it is anticipated that chances for market expansion will arise from the growing use of Industrial IoT for predictive maintenance and the expansion of data centers. But two big obstacles to business expansion are IoT device vulnerabilities and a shortage of qualified personnel.
The industrial IoT market is segmented into deployment, offering, vertical, and connectivity technology. The deployment segment consists of on-premise and cloud-based. Based on the offering, the market comprises hardware, software, and platforms. The hardware segment is divided into processors, sensors, connectivity IC, memory devices, and logic devices. The software segment is divided into product lifecycle management (PLM), manufacturing execution systems (MES), SCADA, outage management systems (Oms), distribution management systems (DMS), remote patient monitoring, retail management software, visualization software, transit management systems, farm management systems. The platform segment is divided into device management platform, application enablement platform, connectivity management platform, and services. Based on the vertical, the market is divided into manufacturing, energy, oil & gas, metals & mining, healthcare, retail, transportation, and agriculture. Based on the connectivity technology, the market is divided into wired and wireless technologies.
The critical role of the infrastructure and the requirement for widespread deployment across multiple industrial settings motivate a substantial initial hardware investment. As a result, the hardware segment continues to dominate the IIoT industry. The foundation of the IIoT is made up of sensors that gather information on variables like motion, humidity, temperature, and pressure. In sectors including manufacturing, energy, and transportation, this data is crucial for process optimization, predictive maintenance, and real-time monitoring. AI-enabled sensors improve edge computing capabilities, precision, and downsizing. Sensors are becoming essential for contemporary IIoT installations, especially in smart factories, due to these developments. For instance, in June 2023, ABB and China Telecom established a joint laboratory in Hangzhou, China, to develop advanced IIoT sensor solutions for industrial applications. This partnership focuses on integrating sensors with digitalization technologies to enhance smart factory capabilities.
The Industrial IoT (IIoT) market is dominated by the manufacturing segment because of its strong need for automation, efficiency, and real-time operational insights. IIoT is essential to allowing smart factories, where consumers, machines, and systems are connected by a network of sensors, devices, and software, as manufacturers attempt to increase productivity and lower operating costs. Predictive maintenance is made possible by this connectivity, which helps to prolong equipment life and prevent unscheduled downtime.IIoT is also used by manufacturers to enhance supply chain visibility, streamline production procedures, and identify quality problems early. Real-time data collection and analysis from several lines or facilities facilitates quicker decision-making and better use of available resources. Furthermore, the manufacturing sector had a major advantage over other industries since it was one of the first to implement Industry 4.0 and digital transformation tactics. Manufacturing continues to dominate the IIoT industry in terms of adoption, investment, and overall impact due to the large number of deployed connected devices and the diverse variety of use cases, which include everything from automation and robotics to energy management and environmental monitoring.
North America's early adoption of IIoT solutions, sophisticated technological infrastructure, and favourable economic and regulatory conditions have all contributed to the region's dominance in the Industrial Internet of Things (IIoT) market. This is the outcome of the region's early adoption and deployment of industrial IoT technologies. Furthermore, during the forecast period, the industrial IoT industry is anticipated to grow due to a number of factors, including increased use of industrial IoT devices, strong government support for advancing digitalization throughout the industrial sector, and growing adoption of cutting-edge technologies like cloud computing and artificial intelligence. These companies drive innovation through significant investments in research and development (R&D), offering advanced IIoT platforms, sensors, and analytics tools.
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Report Attribute |
Specifications |
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Market Size Value In 2024 |
USD 192.92 Bn |
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Revenue Forecast In 2034 |
USD 445.96 Bn |
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Growth Rate CAGR |
CAGR of 9.0% from 2025 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Deployment, Offering, Vertical, Connectivity Technology |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Huawei Technologies Co., Ltd., Cisco Systems, Inc, ABB, Siemens, Intel Corporation, General Electric, Emerson Electric Co, Sap Se, Honeywell International Inc, Rockwell Automation, Arm Limited, PTC, Dassault Systemes, IBM, Robert Bosch GmbH, Nec Corporation, Ansys, Inc, Worldsensing, Arundo, Software Ag, Texas Instruments Incorporated, Kuka Ag, Dragos, Inc, Google LLC, Microsoft Corporation |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Industrial IoT Market Snapshot
Chapter 4. Global Industrial IoT Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Porter's Five Forces Analysis
4.7. Incremental Opportunity Analysis (US$ MN), 2024-2034
4.8. Competitive Landscape & Market Share Analysis, By Key Player (2023)
4.9. Use/impact of AI on Industrial IoT Market Industry Trends
4.10. Global Industrial IoT Market Penetration & Growth Prospect Mapping (US$ Mn), 2021-2034
Chapter 5. Industrial IoT Market Segmentation 1: By Deployment, Estimates & Trend Analysis
5.1. Market Share by Deployment, 2024 & 2034
5.2. Market Size Revenue (US$ Million) & Forecasts and Trend Analyses, 2021 to 2034 for the following Deployment:
5.2.1. On-Premise
5.2.2. Cloud-Based
Chapter 6. Industrial IoT Market Segmentation 2: By Offering, Estimates & Trend Analysis
6.1. Market Share by Offering, 2024 & 2034
6.2. Market Size Revenue (US$ Million) & Forecasts and Trend Analyses, 2021 to 2034 for the following Offering:
6.2.1. Hardware
6.2.1.1. Processors
6.2.1.2. Sensors
6.2.1.3. Connectivity Ic
6.2.1.4. Memory Devices
6.2.1.5. Logic Devices
6.2.2. Software
6.2.2.1. Product Lifecycle Management (PLM)
6.2.2.2. Manufacturing Execution Systems (MES)
6.2.2.3. SCADA
6.2.2.4. Outage Management Systems (OMS)
6.2.2.5. Distribution Management Systems (DMS)
6.2.2.6. Remote Patient Monitoring
6.2.2.7. Retail Management Software
6.2.2.8. Visualization Software
6.2.2.9. Transit Management Systems
6.2.2.10. Farm Management Systems
6.2.3. Platforms
6.2.3.1. Device Management Platform
6.2.3.2. Vertical Enablement Platform
6.2.3.3. Connectivity Management Platform
6.2.3.4. Services
Chapter 7. Industrial IoT Market Segmentation 3: By Vertical, Estimates & Trend Analysis
7.1. Market Share by Vertical, 2024 & 2034
7.2. Market Size Revenue (US$ Million) & Forecasts and Trend Analyses, 2021 to 2034 for the following Vertical:
7.2.1. Manufacturing
7.2.2. Energy
7.2.3. Oil & Gas
7.2.4. Metals & Mining
7.2.5. Healthcare
7.2.6. Retail
7.2.6.1. Point-Of-Sales (Pos)
7.2.6.2. Interactive Kiosks
7.2.6.3. Self-Checkout Systems
7.2.7. Transportation,
7.2.7.1. Intelligent Signaling Systems
7.2.7.2. Video Analytics
7.2.7.3. Incident Detection Systems
7.2.7.4. Route Scheduling Guidance Systems
7.2.8. Agriculture
7.2.8.1. Precision Farming
7.2.8.2. Livestock Monitoring
7.2.8.3. Smart Greenhouses
7.2.8.4. Fish Farming
Chapter 8. Industrial IoT Market Segmentation 4: By Connectivity Technology, Estimates & Trend Analysis
8.1. Market Share by Connectivity Technology, 2024 & 2034
8.2. Market Size Revenue (US$ Million) & Forecasts and Trend Analyses, 2021 to 2034 for the following Connectivity Technology:
8.2.1. Wired
8.2.1.1. Ethernet
8.2.1.2. Foundation Fieldbus
8.2.2. Wireless Technologies
8.2.2.1. Wi-Fi
8.2.2.2. Bluetooth
8.2.2.3. Cellular Technologies
8.2.2.4. Satellite Technologies
Chapter 9. Industrial IoT Market Segmentation 5: Regional Estimates & Trend Analysis
9.1. Global Industrial IoT Market, Regional Snapshot 2024 & 2034
9.2. North America
9.2.1. North America Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
9.2.1.1. US
9.2.1.2. Canada
9.2.2. North America Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Deployment, 2021-2034
9.2.3. North America Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2021-2034
9.2.4. North America Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Vertical, 2021-2034
9.2.5. North America Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Connectivity Technology, 2021-2034
9.3. Europe
9.3.1. Europe Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
9.3.1.1. Germany
9.3.1.2. U.K.
9.3.1.3. France
9.3.1.4. Italy
9.3.1.5. Spain
9.3.1.6. Rest of Europe
9.3.2. Europe Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Deployment, 2021-2034
9.3.3. Europe Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2021-2034
9.3.4. Europe Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Vertical, 2021-2034
9.3.5. Europe Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Connectivity Technology, 2021-2034
9.4. Asia Pacific
9.4.1. Asia Pacific Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
9.4.1.1. India
9.4.1.2. China
9.4.1.3. Japan
9.4.1.4. Australia
9.4.1.5. South Korea
9.4.1.6. Hong Kong
9.4.1.7. Southeast Asia
9.4.1.8. Rest of Asia Pacific
9.4.2. Asia Pacific Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Deployment, 2021-2034
9.4.3. Asia Pacific Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2021-2034
9.4.4. Asia Pacific Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Vertical, 2021-2034
9.4.5. Asia Pacific Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Connectivity Technology, 2021-2034
9.5. Latin America
9.5.1. Latin America Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
9.5.1.1. Brazil
9.5.1.2. Mexico
9.5.1.3. Rest of Latin America
9.5.2. Latin America Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Deployment, 2021-2034
9.5.3. Latin America Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2021-2034
9.5.4. Latin America Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Vertical, 2021-2034
9.5.5. Latin America Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Connectivity Technology, 2021-2034
9.6. Middle East & Africa
9.6.1. Middle East & Africa Wind Turbine Rotor Blade Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
9.6.1.1. GCC Countries
9.6.1.2. Israel
9.6.1.3. South Africa
9.6.1.4. Rest of Middle East and Africa
9.6.2. Middle East & Africa Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Deployment, 2021-2034
9.6.3. Middle East & Africa Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2021-2034
9.6.4. Middle East & Africa Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Vertical, 2021-2034
9.6.5. Middle East & Africa Industrial IoT Market Revenue (US$ Million) Estimates and Forecasts by Connectivity Technology, 2021-2034
Chapter 10. Competitive Landscape
10.1. Major Mergers and Acquisitions/Strategic Alliances
10.2. Company Profiles
10.2.1. Huawei Technologies Co., Ltd.
10.2.1.1. Business Overview
10.2.1.2. Key Deployment/Service Overview
10.2.1.3. Financial Performance
10.2.1.4. Geographical Presence
10.2.1.5. Recent Developments with Business Strategy
10.2.2. Cisco Systems, Inc.
10.2.3. Abb
10.2.4. Siemens
10.2.5. Intel Corporation
10.2.6. General Electric
10.2.7. Emerson Electric Co.
10.2.8. Sap Se
10.2.9. Honeywell International Inc.
10.2.10. Rockwell Automation
10.2.11. Arm Limited
10.2.12. PTC
10.2.13. Dassault Systemes
10.2.14. IBM
10.2.15. Robert Bosch GmbH
10.2.16. Nec Corporation
10.2.17. Ansys, Inc
10.2.18. Worldsensing
10.2.19. Arundo
10.2.20. Software Ag
10.2.21. Texas Instruments Incorporated
10.2.22. Kuka Ag
10.2.23. Dragos, Inc.
10.2.24. Google LLC
Global Industrial IoT Market - By Deployment
Global Industrial IoT Market – By Offering
Global Industrial IoT Market – By Vertical
Global Industrial IoT Market- By Connectivity Technology
Global Industrial IoT Market – By Region
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
