Global Industrial Internet of Things Market is Projected to Surpass USD 2334.44 Billon by 2030

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The 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, cites MarkNtel Advisors in the recent research report.

Driven by the rapid integration of emerging technologies such as Artificial Intelligence (AI), Machine Learning (ML), robotics, and big data analytics, the Global Industrial Internet of Things (IIoT) Market is experiencing remarkable momentum. With industries prioritizing automation, predictive maintenance, and operational efficiency, the demand for IIoT systems is surging across diverse sectors like manufacturing, healthcare, agriculture, and energy.

By 2030, over 120 billion IoT devices are projected to be online, further underlining the unprecedented scalability and adoption of industrial IoT solutions. Furthermore, governments worldwide are pushing for industrial automation to enhance productivity and energy efficiency, which in turn boosts the deployment of IIoT platforms. Countries with fast-developing infrastructure, especially in Asia-Pacific, are seeing robust demand due to the need for centralized asset monitoring, autonomous machinery, and cloud-based analytics.

Additionally, the rollout of 5G technology has emerged as a pivotal enabler, offering real-time connectivity and low-latency data exchange that significantly enhances industrial responsiveness and scalability, therefore elevating market growth, further states the research report, “Global Industrial Internet of Things (IIoT) Market Analysis, 2025.”

Global Industrial Internet of Things (IIoT) Market Segmentation Analysis

Hardware Segment to Lead the Industry with Potential Market Shares

Based on Components, the market is bifurcated into Hardware and Software & Services.

The Hardware segment is anticipated to dominate the market, propelled by the demand for real-time analytics, cost efficiency, and enhanced operational visibility. Industrial sectors are increasingly investing in sensor-based technologies and embedded systems to streamline manufacturing and ensure minimal equipment downtime. This shift supports the broader Industry 4.0 transformation, which is heavily reliant on real-time monitoring tools and machine-to-machine communication.

Asia-Pacific to Witness Remarkable Growth During Forecast Period

Asia-Pacific is poised to lead the market globally, attributed to its dynamic industrial ecosystem and increasing adoption of automated farming and manufacturing systems. Countries like China, India, South Korea, and Taiwan are not only advancing in managed IIoT services but are also heavily investing in cloud platforms and smart infrastructure. This regional growth is further accelerated by favorable government policies, digitization programs, and a thriving electronics manufacturing base.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Cisco Systems, Inc., GE, Honeywell, Intel, IBM, ABB, Telefonica, Robert Bosch, Rockwell Automation, Siemens, Accenture, Capgemini, Texas Instrument, ARM Holding, PTC, HCL, Maverick, and Others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various countries?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?