Industrial Internet Of Things (IIoT) Global Market Report 2025

The industrial internet of things (IIOT) market size has grown rapidly in recent years. It will grow from $243.12 billion in 2024 to $278.97 billion in 2025 at a compound annual growth rate (CAGR) of 14.7%. The growth during the historic period can be credited to increased automation in manufacturing, the widespread adoption of wireless communication, the expansion of cloud computing, rising demand for predictive maintenance, and the integration with enterprise-level systems.

The industrial internet of things (IIOT) market size is expected to see rapid growth in the next few years. It will grow to $479.2 billion in 2029 at a compound annual growth rate (CAGR) of 14.5%. The projected growth in the forecast period can be attributed to rising investments in cybersecurity, growing demand for real-time data monitoring, integration with blockchain technology, a heightened focus on energy efficiency, the advancement of interoperable platforms, and a surge in smart factory initiatives. Key trends expected during this period include the adoption of artificial intelligence and machine learning, the expansion of edge AI, the incorporation of digital twin technology, the development of low-power wide-area networks, and progress in industrial robotics.

The growing implementation of automation is anticipated to drive the expansion of the industrial internet of things (IIoT) market in the coming years. Automation refers to the utilization of technology to carry out tasks with minimal human input. It involves deploying control systems, software, and machinery to manage equipment, processes, or systems in a manner that improves efficiency, precision, and consistency. The adoption of automation continues to rise as it enables businesses to save time and cut operational expenses by reducing manual labor. IIoT supports industries by providing real-time data collection and analysis, which helps optimize processes and minimize downtime. It boosts efficiency, enables predictive maintenance, and supports better decision-making through interconnected devices and automation technologies. For example, in April 2024, the International Federation of Robotics, a non-governmental organization based in Germany, reported 44,303 industrial robot installations in 2023, marking a 12% increase from the previous year. Thus, the growing adoption of automation is a key factor fueling the growth of the IIoT market.

Leading companies in the industrial internet of things (IIoT) sector are prioritizing the development of cutting-edge solutions, such as cellular IoT connectivity platforms, to enhance the scalability and efficiency of IoT deployments in industrial settings. A cellular IoT connectivity platform is a system that facilitates the connection and communication of IoT devices over cellular networks, managing data transfer, monitoring, and device control through technologies including 4G LTE and 5G. For example, in February 2022, Telefonaktiebolaget LM Ericsson, a telecommunications and networking company based in Sweden, introduced IoT Accelerator Connect. This platform simplifies the process of connecting IoT devices to cellular networks, enabling businesses to implement IoT solutions more effectively. It accelerates device integration, shortens time to market, and increases scalability through features such as cloud and eSIM connectivity. By minimizing complexity, the platform supports broader access to IoT services, driving innovation and expansion across various industries.

In July 2023, Honeywell International Inc., a U.S.-based technology company specializing in aerospace and automotive manufacturing, acquired SCADAfence for an undisclosed amount. This acquisition aims to bolster Honeywell’s cybersecurity capabilities by integrating SCADAfence’s advanced technologies into its existing cybersecurity portfolio. By merging SCADAfence’s operational technology (OT) security solutions with Honeywell’s current offerings, the objective is to strengthen protection for OT environments and shield customers from potential disruptions. SCADAfence is a U.S.-based provider of robust cybersecurity solutions tailored specifically for industrial internet of things (IIoT) systems.

Major players in the industrial internet of things (IIoT) market are Samsung Electronics Co. Ltd., Microsoft Corporation, Amazon Web Services Inc., Bosch Global Software Technologies GmbH, Huawei Technologies Co. Ltd., Hitachi Ltd., Siemens AG, Lenovo Group Limited, Intel Corporation, Accenture plc, International Business Machines Corporation, Panasonic Holdings Corporation, Cisco Systems Inc., Oracle Corporation, Mitsubishi Electric Corporation, Honeywell International Inc., SAP SE, Johnson Controls International plc, Alibaba Cloud, Toshiba Corporation, and ARM Holdings.

North America was the largest region in the industrial internet of things (IIoT) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in industrial internet of things (IIoT) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the industrial internet of things (IIoT) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The Industrial Internet of Things (IIoT) involves the integration of connected sensors, instruments, and devices within industrial systems. It facilitates real-time data gathering, analysis, and communication across machines and infrastructure, aiming to improve operational efficiency, automation, and decision-making within industrial settings.

The core elements of IIoT include hardware, software, and services. Hardware encompasses the physical tools and equipment used to gather, transmit, and sometimes process data in industrial contexts. Deployment options include cloud-based, on-premise, and hybrid models, with connectivity options spanning both wired and wireless networks. IIoT serves a wide range of end-users, including sectors such as information technology and telecommunications, manufacturing, healthcare, retail, oil and gas, energy and power, automotive, and others.

The industrial internet of things (IIoT) market research report is one of a series of new reports that provides industrial internet of things (IIoT) market statistics, including industrial internet of things (IIoT) industry global market size, regional shares, competitors with a industrial internet of things (IIoT) market share, detailed industrial internet of things (IIoT) market segments, market trends and opportunities, and any further data you may need to thrive in the industrial internet of things (IIoT) industry. The industrial internet of things (IIoT) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The industrial internet of things (IIoT) market consists of revenues earned by entities providing services such as predictive maintenance, remote monitoring, supply chain and inventory management, and asset tracking and management. The market value includes the value of related goods sold by the service provider or included within the service offering. The industrial internet of things market also includes sales of products such as internet of things (IoT) sensors and devices, connectivity devices, edge computing devices, industrial controllers, and robots and automated systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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