The global Industrial Internet of Things (IIoT) market size is estimated to reach $1 693,44-billion by 2030, registering a CAGR of 23,3% from 2025 to 2030, according to a new report by Grand View Research.
The market growth is being driven by a significant focus on predictive maintenance, automation, and efficient supply chain management across various industrial sectors, particularly manufacturing.
Many organisations have acknowledged the advantages of integrating industrial IoT to enhance productivity and have implemented a variety of advanced IIoT solutions using compatible hardware, such as actuators and sensors, along with software. This has contributed to the market growth.
The increasing application of M2M across various industries, such as automotive, smart cars, utilities, smart grids, home automation, healthcare and security, is expected to drive the adoption of IIoT across businesses. The data collected by OT, M2M, and IoT systems is expected to integrate both operational and informational technology, thereby opening new insights to innovate the decision-making process.
The adoption of sensors and distributed control systems will help to control and manage work processes and automate management processes for all industrial operations. As a result, the demand for implementing sensors and DCS in various business operations will increase annually.
Thus, there is a global increase in the need for sensors and DCS due to multiple associated advantages, which is driving the market growth in the coming years.
The IIot market report highlights include:
- Based on components, the services segment is anticipated to grow at the fastest CAGR over the forecast period, owing to a significant increase in the number of connected gadgets.
- By end-use, the manufacturing sub-segment led the market with the largest revenue share in 2023, as companies are rapidly adopting digital manufacturing technologies, while the logistics & transport segment is anticipated to grow at the fastest CAGR over the forecast period.
- North America accounted for the largest revenue share of 31% in 2024, closely followed by Europe owing to the early adoption and implementation of IIoT technology.