Industrial Internet Of Things Market To Reach $1,693.44 Billion By 2030

Industrial Internet of Things Market Growth & Trends

The global industrial internet of things market size is estimated to reach USD 1,693.44 billion by 2030, registering a CAGR of 23.3% from 2025 to 2030, according to a new report by Grand View Research, Inc. The market growth is being driven by a significant focus on predictive maintenance, automation, and efficient supply chain management across various industrial sectors, particularly manufacturing. Many organizations have acknowledged the advantages of integrating industrial IoT to enhance productivity and have implemented a variety of advanced Industrial IoT solutions using compatible hardware, such as actuators and sensors, along with software. This has contributed to the market growth.

Companies are involved in strategic partnerships and collaborations and are allocating substantial resources towards research and development to drive innovation and to stay competitive in the industry. For instance, in February 2024, Digi International Inc. introduced the Digi IX40, a 5G edge computing industrial IoT cellular router solution. The Digi IX40 is specifically designed for Industry 4.0 applications, including advanced robotics, predictive maintenance, asset monitoring, industrial automation, and smart manufacturing. Such strategies by market players are anticipated to augment the market growth in the coming years.

The increasing application of M2M across various industries, such as automotive, smart cars, utilities, smart grids, home automation, healthcare, and security, is expected to drive the adoption of industrial IoT across businesses. The data collected by OT, M2M, and IoT systems is expected to integrate both operational and informational technology, thereby opening new insights to innovate the decision-making process.

The adoption of sensors and distributed control systems will help to control and manage work processes and automate management processes for all industrial operations. As a result, the demand for implementing sensors and DCS in various business operations will increase annually. Thus, there is a global increase in the need for sensors and DCS due to multiple associated advantages, which is driving the market growth in the coming years.

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Industrial Internet of Things Market Report Highlights

• Based on components, the services segment is anticipated to grow at the fastest CAGR over the forecast period, owing to a significant increase in the number of connected gadgets.

• By end-use, the manufacturing sub-segment led the market with the largest revenue share in 2023, as companies are rapidly adopting digital manufacturing technologies, while the logistics & transport segment is anticipated to grow at the fastest CAGR over the forecast period.

• North America accounted for the largest revenue share of 31.0% in 2024, closely followed by Europe owing to the early adoption and implementation of industrial internet of things technology.

• In May 2024, Proxgy, an industrial internet of things startup, launched a satellite-based smart lock locator, designed for the transportation and logistics industry. The smart lock comes with state-of-the-art features, including real-time tamper alerts, geofencing, geolocation tracking, RFID and NFC smart key unlock, and remote lock/unlock capabilities.

Industrial Internet of Things Market Segmentation

Grand View Research has segmented the global industrial internet of things market based on component, deployment, connectivity, application, end-use, and region:

Industrial Internet Of Things Component Outlook (Revenue, USD Million, 2018 - 2030)

• Solution

  • Remote Monitoring

  • Data Management

  • Analytics

  • Security Solutions

  • Others

• Services

  • Professional

  • Managed

• Platform

  • Connectivity Management

  • Application Management

  • Device Management

Industrial Internet Of Things Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• On-premises

• Cloud-based

Industrial Internet Of Things Connectivity Outlook (Revenue, USD Million, 2018 - 2030)

• Wired Technology

• Wireless Technology

Industrial Internet Of Things Application Outlook (Revenue, USD Million, 2018 - 2030)

• Predictive Maintenance

• Asset Tracking & Management

• Remote Monitoring

• Process Optimization

• Safety & Security

• Supply Chain & Management

Industrial Internet Of Things End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Metal & Mining

• Chemical

• Manufacturing

• Energy & Power

• Oil & Gas

• Healthcare

• Logistics & Transport

• Agriculture

• Others

Industrial Internet Of Things Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • UK

  • Benelux

  • Nordic Countries

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

  • Chile

  • Peru

• Middle East & Africa (MEA)

  • UAE

  • Saudi Arabia

  • South Africa

List of Key Players in the Industrial Internet Of Things Market

• ABB Ltd.

• ARM Holding Plc

• Atmel Corporation

• Cisco Systems, Inc.

• General Electric Company (GE)

• Honeywell International Inc.

• Intel Corporation

• International Business Machines (IBM) Corporation

• Microsoft Corporation

• Rockwell Automation, Inc.

• Schneider Electric SE

• Siemens AG