The global industrial internet of things market size was estimated at USD 483.16 billion in 2024 and is estimated to reach USD 1,693.44 billion by 2030, growing at a CAGR of 23.3% from 2025 to 2030. One of the key factors driving this strong growth is the increasing integration of artificial intelligence (AI) and machine learning (ML) into IIoT systems. These technologies are transforming industrial operations by enabling predictive maintenance, process automation, and real-time operational optimization. By analyzing large volumes of sensor data, AI and ML help companies anticipate equipment failures, minimize downtime, and enhance productivity, thereby boosting overall operational efficiency.

In addition, the rapid advancement of 5G network infrastructure is significantly contributing to the expansion of the industrial IoT landscape. The ultra-low latency, high bandwidth, and reliable connectivity offered by 5G networks provide the necessary backbone for mission-critical IIoT applications. This is especially vital for industries that depend on instant data transmission and processing, such as autonomous vehicles, smart factories, logistics, and real-time monitoring systems. The enhanced communication capabilities enabled by 5G are expected to create lucrative opportunities for innovation and large-scale IIoT implementation in the coming years.

Another major factor supporting market growth is the increasing adoption of edge computing. By processing data closer to the source—rather than relying solely on centralized cloud systems—edge computing enables faster and more efficient data handling. This minimizes latency and allows for real-time decision-making in critical industrial environments, such as manufacturing plants, oil and gas facilities, and transportation networks. Furthermore, edge computing helps reduce data transmission costs, improves bandwidth utilization, and enhances system reliability, making it indispensable for large-scale IIoT deployments.

The rising demand for real-time analytics, combined with the growing complexity of interconnected industrial systems, is accelerating the use of edge computing as a key enabler of IIoT. Together, advancements in AI, ML, 5G, and edge technologies are driving the ongoing digital transformation across industries, fueling the sustained expansion of the global industrial internet of things market.

Key Market Trends & Insights:

• North America dominated the global industrial internet of things (IIoT) market in 2024, accounting for the largest market share of over 31%. The region’s leadership position can be attributed to its highly developed industrial infrastructure, strong technological ecosystem, and rapid adoption of digital transformation initiatives across various sectors such as manufacturing, energy, transportation, and logistics. The widespread presence of key technology providers and early adopters of advanced industrial automation solutions has further strengthened North America’s position in the global market. Additionally, increasing investments in smart factories, along with government initiatives supporting industrial digitization and IoT innovation, continue to fuel regional growth.

• Within the region, the U.S. industrial IoT industry is anticipated to witness substantial expansion, growing at a CAGR of over 18% from 2025 to 2030. The U.S. market is being driven by the rapid integration of technologies such as artificial intelligence (AI), machine learning (ML), and 5G connectivity into industrial operations. Growing emphasis on predictive maintenance, operational efficiency, and energy management is encouraging industries to adopt IIoT-enabled systems. Furthermore, the presence of major IIoT solution providers, along with strong research and development activities, is expected to further boost the country's market growth during the forecast period.

• Based on component, the solution segment held the largest revenue share of over 51% in 2024. This dominance is primarily due to the increasing adoption of comprehensive IIoT solutions that combine hardware, software, and analytics platforms to optimize industrial processes. These solutions enable organizations to achieve real-time visibility, enhance productivity, and improve asset performance. The growing need for scalable and integrated IIoT systems across industries such as manufacturing, energy, and utilities is further supporting the segment’s strong performance.

• Based on connectivity, the wireless technology segment accounted for the largest market share in 2024. The increasing shift toward wireless connectivity is driven by its flexibility, scalability, and cost-effectiveness compared to traditional wired systems. Technologies such as Wi-Fi, Bluetooth, Zigbee, and 5G are playing a pivotal role in enabling seamless communication between industrial devices and systems. Wireless connectivity supports greater mobility, real-time data sharing, and efficient remote monitoring, making it the preferred choice for modern industrial IoT deployments. As industries continue to embrace smart automation and connected infrastructure, the demand for advanced wireless solutions is expected to rise significantly.

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Market Size & Forecast:

• 2024 Market Size: USD 483.16 Billion

• 2030 Projected Market Size: USD 1,693.44 Billion

• CAGR (2025-2030): 23.3%

• North America: Largest market in 2024

• Asia Pacific: Fastest growing market

Key Companies & Market Share Insights:

Some of the key players operating in the global industrial internet of things (IIoT) market include Johnson Controls Inc. and SPX Corporation. These companies play an essential role in advancing industrial automation and connectivity by offering innovative solutions that improve operational efficiency, productivity, and safety across multiple industrial sectors.

Cisco Systems is a leading global provider of networking and cybersecurity solutions, well recognized for enabling connectivity and smart technologies across industries. In the IIoT space, Cisco focuses on integrating information technology (IT) and operational technology (OT) to create secure, intelligent, and efficient industrial environments. The company’s portfolio includes industrial networking equipment, advanced sensors, edge computing devices, and IoT management platforms. These offerings support real-time data processing, predictive maintenance, and network security, helping industries optimize their operations and enhance productivity.

Honeywell International Inc. is a multinational conglomerate with a broad presence across automation, aerospace, building technologies, and performance materials. Within the IIoT market, Honeywell is known for its advanced connected industrial solutions that leverage cloud computing, AI, and IoT-enabled devices to improve operational performance and reduce downtime. Its flagship Honeywell Forge platform delivers powerful data-driven insights for asset management, predictive maintenance, and process optimization. The platform serves a wide range of industries, including oil and gas, chemicals, and manufacturing, enabling companies to increase efficiency, reliability, and safety.

Emerging participants such as Arm Holding Plc and Atmel Corporation are also contributing to the growth and innovation within the industrial IoT ecosystem.

ARM Holding Plc, a subsidiary of SoftBank Group, is a prominent player in semiconductor and processor design, specializing in low-power, high-performance architectures widely used in IIoT applications. ARM’s microprocessors and system-on-chips (SoCs) are integral components of embedded devices, sensors, and edge computing systems across industries such as manufacturing, logistics, and infrastructure. The company’s energy-efficient and scalable designs support cost-effective IoT deployments, which are critical for enabling the operation of smart factories and connected industrial systems.

Atmel Corporation, now part of Microchip Technology, is a notable developer of semiconductor solutions for embedded systems and IoT applications. The company’s expertise in microcontrollers, sensors, and wireless communication modules positions it as an important contributor to the IIoT market. Atmel’s products power a variety of industrial devices, enabling real-time data acquisition, remote equipment monitoring, and process automation. Through its technological innovations, Atmel continues to support the growing need for efficient and connected industrial infrastructure in the evolving IIoT landscape.

Key Players

• 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

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Conclusion:

The IIoT market is entering a period of robust expansion, supported by rising demand for digital transformation, automation, and connectivity across industrial sectors. Key enabling technologies—such as artificial intelligence, real-time analytics, advanced sensors, edge computing, and high-speed networks—are playing increasingly central roles in driving operational efficiency, reducing downtime, and enabling predictive maintenance. Going forward, industries will continue investing in integrated IIoT solutions that link traditionally separate information-technology (IT) and operations-technology (OT) systems, while regional growth will be driven by developing infrastructures, growing smart-manufacturing initiatives, and strong government and corporate support for Industry 4.0-type deployments.