The latest report by IMARC Group, titled “Industrial IoT Market Report by Component (Hardware, Software, Services, Connectivity), End User (Manufacturing, Energy and Utilities, Automotive and Transportation, Healthcare, and Others), and Region 2025-2033,” finds that the global industrial IoT market size reached USD 289.0 Billion in 2024. Industrial Internet of Things (IIoT), also known as Industry 4.0, integrates smart industrial machine sensors and actuators with the internet to enhance manufacturing and industrial processes. It is a network of intelligent devices connected to form systems that collect, exchange, monitor, and analyze data from industrial operations. It increases visibility, enhances efficiency, troubleshooting, and maintenance capabilities, reduces costs, improves security and safety, and maximizes revenue growth. In addition, it helps to improve employee productivity, enables business models to save money and time, and minimizes operating costs. As a result, industrial IoT is widely utilized across manufacturing, automotive, energy and utilities, transportation, and healthcare industries across the globe.
Global Industrial IoT Market Trends:
The market is primarily driven by the rising demand for connected devices and data solutions across various industrial applications such as medical devices, robotics, and software-defined production processes. In addition, various technological advancements in electronic devices and semiconductors and the standardization of IPv6 are contributing to the market growth. Moreover, the widespread adoption of artificial intelligence (AI) and IoT in the manufacturing sector to help optimize industrial processes, offer quality control, predict machine failure, and send emergency alerts, represents another major growth-inducing factor. Besides this, rapid urbanization growing automation, and the increasing use of IoT across several industrial verticals, including oil and gas, retail, infrastructure, and transportation, are providing a positive thrust to market growth. Along with this, the rising adoption of machine learning (ML) and artificial intelligence (AI) to offer predictive and prescriptive analytical solutions is propelling the market growth. Apart from this, the sudden outbreak of coronavirus disease (COVID-19), resulting in the growing popularity of remote working, has also accelerated the product adoption rate. Furthermore, increasing investments by key players in research and development (R&D) activities to improve the technology in the industrial IoT is creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market value to reach USD 847.0 Billion by 2033, exhibiting a CAGR of 12.7% during the forecast period (2025-2033).
Market Summary:
- Based on the component, the market has been categorized into hardware, software, services, and connectivity. Among these, the hardware component exhibits a clear dominance in the market.
- On the basis of the end user, the market has been classified into manufacturing, energy and utilities, automotive and transportation, healthcare, and others. The manufacturing industry presently accounts for the majority of the market share.
- Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Middle East and Africa, and Latin America (Brazil, Mexico, and others). Currently, Europe holds the leading position in the market.
- The competitive landscape of the industry has also been examined in the report, with some of the key players being Cisco Systems, Inc., General Electric, Honeywell International Inc., Intel Corporation, International Business Machines Corporation, ABB Group, Rockwell Automation, Siemens AG, Huawei Technologies Co., Ltd., Bosch, KUKA Robotics, Texas Instruments Incorporated, Dassault Systèmes SE, PTC, Arm Limited and NEC Corporation.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2024 |
Historical Period |
2019-2024 |
Forecast Period |
2025-2033 |
Units |
Billion USD |
Segment Coverage |
Component, End-User, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Companies Covered |
Cisco Systems, Inc., General Electric, Honeywell International Inc., Intel Corporation, International Business Machines Corporation, ABB Group, Rockwell Automation, Siemens AG, Huawei Technologies Co., Ltd., Bosch, KUKA Robotics, Texas Instruments Incorporated, Dassault Systèmes SE, PTC, Arm Limited and NEC Corporation |
Customization Scope |
10% Free Customization |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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