Industrial Internet of Things (IIoT) Market Size & Insights

According to MarkNtel Advisors study The future of 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. 

What are the Key Driver 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- Market Size & Forecast 2020-2030F, USD Million
• Sensors- Market Size & Forecast 2020-2030F, USD Million
• RFID- Market Size & Forecast 2020-2030F, USD Million
• Industrial Robotics- Market Size & Forecast 2020-2030F, USD Million
• Distributed Control Systems- Market Size & Forecast 2020-2030F, USD Million
• Condition Monitoring- Market Size & Forecast 2020-2030F, USD Million
• Smart Meters- Market Size & Forecast 2020-2030F, USD Million
• Electronic Shelf Labels- Market Size & Forecast 2020-2030F, USD Million
• Cameras- Market Size & Forecast 2020-2030F, USD Million
• Smart Beacons- Market Size & Forecast 2020-2030F, USD Million
• Interface Boards- Market Size & Forecast 2020-2030F, USD Million
• Yield Monitors- Market Size & Forecast 2020-2030F, USD Million
• Guidance and Steering- Market Size & Forecast 2020-2030F, USD Million
• Flow & Application Control Devices- Market Size & Forecast 2020-2030F, USD Million
• Networking Component- Market Size & Forecast 2020-2030F, USD Million
• Software & Services- Market Size & Forecast 2020-2030F, USD Million

The Hardware segment is predicted to capture a substantial market share due to the industrial sector's ongoing efforts to boost productivity, cut expenses, and raise Overall Equipment Effectiveness (OEE) by gaining greater access to information via real-time solutions. Also, numerous industrial verticles are adopting industrial IoT platforms widely to enhance operational efficiency along with the emerging requirement for superior monitoring technologies, supporting driving this segment's demand in the Global Industrial Internet of Things (IIOT) Market.

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·       By Connectivity

o   Wired Technologies- Market Size & Forecast 2020-2030F, USD Million

§  Ethernet- Market Size & Forecast 2020-2030F, USD Million

§  Modbus- Market Size & Forecast 2020-2030F, USD Million

§  Profinet- Market Size & Forecast 2020-2030F, USD Million

§  Foundation Field Bus- Market Size & Forecast 2020-2030F, USD Million

o   Wireless Technologies- Market Size & Forecast 2020-2030F, USD Million

§  Wi-Fi- Market Size & Forecast 2020-2030F, USD Million

§  Zigbee- Market Size & Forecast 2020-2030F, USD Million

§  Bluetooth- Market Size & Forecast 2020-2030F, USD Million

§  Cellular Technologies- Market Size & Forecast 2020-2030F, USD Million

§  Satellite Technologies- Market Size & Forecast 2020-2030F, USD Million

·       By Application

o   Product Lifecycle Management- Market Size & Forecast 2020-2030F, USD Million

o   Manufacturing and Executions Systems- Market Size & Forecast 2020-2030F, USD Million

o   Supervisory Control and Data Acquisition (SCADA) - Market Size & Forecast 2020-2030F, USD Million

o   Outage Management Systems- Market Size & Forecast 2020-2030F, USD Million

o   Distribution Management Systems- Market Size & Forecast 2020-2030F, USD Million

o   Remote Monitoring- Market Size & Forecast 2020-2030F, USD Million

o   Retail Management- Market Size & Forecast 2020-2030F, USD Million

o   Transit Management Systems- Market Size & Forecast 2020-2030F, USD Million

o   Predictive Maintenance- Market Size & Forecast 2020-2030F, USD Million

o   Others (Visualization Software, Farm Management, etc.) - Market Size & Forecast 2020-2030F, USD Million

·       By End Users

o   Manufacturing- Market Size & Forecast 2020-2030F, USD Million

§  Automotive- Market Size & Forecast 2020-2030F, USD Million

§  Machinery- Market Size & Forecast 2020-2030F, USD Million

§  Food & Beverages- Market Size & Forecast 2020-2030F, USD Million

§  Chemicals and Materials- Market Size & Forecast 2020-2030F, USD Million

§  Electrical and Electronics- Market Size & Forecast 2020-2030F, USD Million

§  Pharmaceuticals- Market Size & Forecast 2020-2030F, USD Million

o   Energy- Market Size & Forecast 2020-2030F, USD Million

o   Oil & Gas- Market Size & Forecast 2020-2030F, USD Million

o   Metal & Mining- Market Size & Forecast 2020-2030F, USD Million

o   Healthcare- Market Size & Forecast 2020-2030F, USD Million

o   Retail- Market Size & Forecast 2020-2030F, USD Million

o   Transportation- Market Size & Forecast 2020-2030F, USD Million

o   Agriculture- Market Size & Forecast 2020-2030F, USD Million

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

·       By Region

o   North America

o   South America

o   Europe

o   Middle East & Africa

o   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