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Industrial Internet Of Things (IIoT) Market Revenue Growth On Track For A 14.1% CAGR Through 2030
The industrial internet of things (IIoT) market has witnessed substantial growth in recent years. This market is forecasted to expand from $277.35 billion in 2025 to $317.09 billion in 2026, exhibiting a compound annual growth rate (CAGR) of 14.3%. In the past, this expansion was driven by factors such as the increasing adoption of industrial automation, the development of smart manufacturing facilities, a heightened demand for operational efficiency, a rise in sensor deployment, and the implementation of cloud industrial platforms.
The industrial internet of things (iiot) market is expected to experience significant expansion in the coming years. It is projected to grow to $537.39 billion in 2030, achieving a compound annual growth rate (CAGR) of 14.1%. This anticipated growth during the forecast period can be attributed to several factors, including the integration of AI-based industrial analytics, the expansion of 5G-enabled factories, the adoption of autonomous production systems, an increase in industrial cybersecurity solutions, and rising investment in smart infrastructure. Prominent trends for this period include real-time industrial monitoring, the integration of predictive maintenance, the development of connected factory ecosystems, the deployment of edge computing, and remote asset management.
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Industrial Internet Of Things (IIoT) Market Expansion Drivers: What’s Shaping Future Growth?
The future expansion of the industrial internet of things (IIoT) market is anticipated to be propelled by the rising acceptance of automation. Automation refers to employing technology for task execution with limited human involvement, entailing the utilization of control systems, software, and machinery to manage equipment, processes, or systems, thereby enhancing efficiency, precision, and uniformity. The uptake of automation is on the rise because it assists businesses in conserving time and lowering operational expenses by reducing manual labor. The industrial internet of things (IIoT) benefits industries by facilitating real-time data gathering and analysis, which in turn optimizes operations and lessens downtime. It improves efficiency, supports predictive maintenance, and aids decision-making via interconnected devices and automated systems. As an illustration, in April 2024, the International Federation of Robotics, a Germany-based non-governmental organization, disclosed that there were 44,303 industrial robot installations in 2023, marking a 12% increase compared to the previous year. Consequently, the expanding adoption of automation is fueling the expansion of the industrial internet of things (IIoT) market.
Industrial Internet Of Things (IIoT) Market Segment Outlook: Which Categories Are Growing Fastest?
The industrial internet of things (iiot) market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Deployment: On-Cloud, On-Premises, Hybrid
3) By Connectivity: Wired, Wireless
4) By End-User: Information Technology And Telecommunication, Manufacturing, Healthcare, Retail, Oil And Gas, Energy And Power, Automotive, Other End-Users
Subsegments:
1) By Hardware: Sensors, Actuators, Embedded Systems, Communication and Network Devices, Industrial Personal Computers, Cameras
2) By Solution: Network and Connectivity Solutions, Data Management and Analytics, Remote Monitoring Solutions, Industrial Automation Solutions, Security Solutions, Predictive Maintenance Solutions, Asset Management Solutions
3) By Service: Consulting Services, System Integration Services, Managed Services, Support and Maintenance Services
Industrial Internet Of Things (IIoT) Market Strategic Trends: What Defines The Next Growth Phase?
Leading companies in the industrial internet of things market are concentrating on developing advanced technologies, such as 6-in-1 plug-and-play IIoT sensor platforms for predictive maintenance, to meet the increasing demand for reduced downtime, improved asset reliability, and better energy efficiency. A 6-in-1 IIoT sensor platform integrates multiple measurements like 3D vibration, magnetic flux, acoustic emissions, temperature, humidity, and RPM into a single compact device. This capability enables continuous, real-time monitoring of equipment health, a significant advancement compared to traditional single-parameter sensors or periodic manual inspections. For instance, in June 2024, Henkel Adhesive Technologies, a Germany-based specialty chemicals and MRO company, launched its Loctite Pulse Smart Rotating Equipment Monitoring solution. This plug-and-play sensor simultaneously tracks six critical parameters, transmits data over wireless networks to the Loctite Pulse app without extensive IT integration, and utilizes AI-driven analytics to predict asset degradation in rotating equipment such as motors, gearboxes, and pumps. This solution helps industrial customers identify early signs of wear, prioritize maintenance, and prevent unplanned downtime, integrating seamlessly with Henkel’s MRO repair products for rapid corrective action.
Industrial Internet Of Things (IIoT) Market Leading Companies And Competitive Benchmarking
Major companies operating 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, ARM Holdings.
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Industrial Internet Of Things (IIoT) Market Geographic Spread And Regional Opportunities
North America was the largest region in the industrial internet of things (IIoT) market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial internet of things (iiot) market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
