Industrial Internet Of Things (IIOT) Global Market Report 2025: Rapid Growth Projected With 14.5% CAGR By 2029
The Business Research Company
The Business Research Company's Industrial Internet Of Things (IIOT) Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, June 11, 2025 /EINPresswire.com/ -- The industrial internet of things market size has grown rapidly in recent years. Notably, it will grow from $243.12 billion in 2024 to $278.97 billion in 2025 at a compound annual growth rate CAGR of 14.7%. This significant growth in the historic period can be attributed to the rise of automation in manufacturing, proliferation of wireless communication, growth of cloud computing, demand for predictive maintenance, and integration with enterprise systems.
What's The Anticipated Incredible Growth Of Industrial Internet Of Things IIoT In The Forecast Period?
To put things into perspective, the industrial internet of things market size is set to see a remarkable growth in the coming years. It's projected to reach $479.20 billion in 2029 at a compound annual growth rate CAGR of 14.5%. This growth in the forecast period can be attributed to increasing cybersecurity investments, demand for real-time data monitoring, integration with blockchain, emphasis on energy efficiency, development of interoperable platforms, and the surge in smart factory initiatives. Major trends in the forecasted period include the adoption of artificial intelligence and machine learning, the growth of edge artificial intelligence, the integration of digital twins, the development of low-power wide-area networks, and advancements in industrial robotics.
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What Are The Key Market Drivers Propelling The Growth Of The Industrial Internet Of Things IIoT Market?
The increasing adoption of automation is expected to propel the growth of the industrial internet of things IIoT market. Automation, the utilisation of technology to perform tasks with minimal human intervention, involves employing control systems, software, and machines to operate equipment, processes, or systems to heighten efficiency, accuracy, and consistency. Businesses are increasingly adopting automation as it saves time and reduces operational costs by minimising manual efforts. The industrial internet of things IIoT enhances efficiency, predictive maintenance, and decision-making through connected devices and automation, further boosting industries by enabling real-time data collection and analysis to optimise operations and reduce downtime.
Who Are The Key Players In The Industrial Internet Of Things IIoT Market?
Key players shaping the landscape of the industrial internet of things IIoT market include 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, and ARM Holdings.
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How Is The Industrial Internet Of Things Market Segmented?
The industrial internet of things IIoT market is segmented in the following ways:
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 include:
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.
Which Region Is Leading In The Industrial Internet Of Things IIoT Market?
North America was the largest region in the industrial internet of things IIoT market in 2024. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period. The market report also covers regions such as Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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