Industrial Internet of Things (IIoT) Market Outlook 2030: Leading Companies & Share Insights

Industrial Internet of Things (IIoT) Market Size & Insights

According to MarkNtel Advisors study The future of Global Industrial Internet of Things (IIoT) Market  size was valued at around USD 414.05 billion in 2024 and is expected to reach USD 2334.44 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 33.41% during the forecast period, i.e., 2025-30.

What are the Key Driver in the Industrial Internet of Things (IIoT) Market?

Frequent Deployment of AI, ML, and IoT in the Manufacturing Industry – The adoption of AI & IOT technologies in the manufacturing sector has risen dramatically over the past few years. This is in line with the advent of Industry 4.0. Systems powered by AI & the Internet of Things (IoT), make it possible to optimize manufacturing procedures, give out early warnings, foresee or anticipate equipment or machinery breakdown, and gather comprehensive data, thus helping manufacturers work more fluidly. Additionally, in industrial units, jobs like conditioning monitoring & equipment maintenance are carried out using AI & ML algorithms in the absence of normal personnel. Hence, owing to the listed factors, it is anticipated that the integration of AI, ML, and IoT in the industrial sector would drive the Global Industrial Internet of Things Market in the future years as well.

What are the Key Segments in the Industrial Internet of Things (IIoT) Market?

The Industrial Internet of Things (IIoT) is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

The Hardware segment is predicted to capture a substantial market share due to the industrial sector’s ongoing efforts to boost productivity, cut expenses, and raise Overall Equipment Effectiveness (OEE) by gaining greater access to information via real-time solutions. Also, numerous industrial verticles are adopting industrial IoT platforms widely to enhance operational efficiency along with the emerging requirement for superior monitoring technologies, supporting driving this segment’s demand in the Global Industrial Internet of Things (IIOT) Market.

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How does geographical analysis highlight in the Industrial Internet of Things (IIoT) market?

Asia-Pacific is predicted to hold a significant market share in terms of value during the forthcoming period. The region is a hub for industrial manufacturing, hence is the focal point for several business expansions & investments.

Who are the Key Players in Industrial Internet of Things (IIoT) Market?

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Industrial Internet of Things (IIoT) Market News

2025: ABB collaborated with Microsoft to integrate Azure OpenAI Service into its ABB Ability Genix Platform, improving AI analytics for predictive maintenance and reducing equipment downtime by up to 25-30%.

2024: Honeywell International Inc. partners with Google Cloud to incorporate AI agents into Honeywell’s industrial operations, aiming to enhance autonomy, productivity, and workforce efficiency.

Key pillars of the research methodology include:

“Our methodology reflects the trust businesses place in us. By combining innovation with precision, we deliver not just numbers, but clarity and direction for decision-makers worldwide,” said a spokesperson for MarkNtel Advisors.

Why This MarkNtel Advisors Research Report:

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