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Industrial Internet Of Things Market: By Component, By Services, By Platform, By End User and Region Forecast 2020-2031
Industrial Internet Of Things Market: By Component, By Services, By Platform, By End User and Region Forecast 2020-2031
Industrial Internet of Things (IoT) Market size was valued at US$ 485.4 million in 2024 and is expected to reach US$ 2,091.1 million by 2031, growing at a significant CAGR of 23.2% from 2025-2031. The global market provides a detailed overview of the market and that can be segmented by component and end-user. By component, the imarket has been segmented into solution, service, and platform. The solution segment is likely to be the largest and fastest-growing segment in terms of the component.
Further, the solution is further segregated into remote monitoring, data management, analytics, and security solutions. Services are sub-segmented into professional and managed. The platform is divided into connectivity management, application management, and device management. Based on end users, the market is segmented into manufacturing, energy & power, oil & gas, healthcare, logistics & transport, and agriculture. Among these, the healthcare segment is expected to have the fastest-growing market during the forecast period 2023-2029.
In Feb 2021, Cisco has teamed up with Newark, an Avnet company, to offer customers across North America industrial IoT network solutions for rugged and non-carpeted environments.
Study Period
2025-2031Base Year
2024CAGR
23.2%Largest Market
North-AmericaFastest Growing Market
Asia-Pacific
Since IoT is used in many devices and applications in different industries, such as wearable devices, healthcare, consumer electronics, and among others, the IoT industry has increased its efforts in developing new IoT-based products. These features allow gadgets to increase productivity by improving efficiency, safety, and decision-making. As a result of these causes, the industrial internet of things market is growing around the world.
By region, the Asia Pacific market is expected to witness the highest market share during the forecast period. The region has become a global focal point for large investments and corporate growth, and it is a major hub for industrial manufacturing. The market is predicted to develop due to the region's growing population, rising R&D investments, and international and domestic IT businesses' increased focus on the growth of big data analytics and cloud-based services in the region.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2025-2031 |
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Market Size in 2024 |
US$ 485.4 million |
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Market Size in 2031 |
US$ 2,091.1 million |
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Market CAGR |
23.2% |
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By Component |
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By Services |
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By Platfrom |
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By End User |
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By Region |
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Industrial internet of things (IoT) market size was valued at US$ 485.4 million in 2024 and is expected to reach US$ 2,091.1 million by 2031, growing at a significant CAGR of 23.2%.
The major players in the market are Cisco Systems, Inc., General Electric, Intel Corporation, Rockwell Automation, Inc., Abb Group, Texas Instruments, Inc., Dassault Systemes, Honeywell International, Inc., Huawei Technology Co., Ltd., and IBM Corporation.etc.
Asia Pacific is the fastest-growing region for the market
| 1.Executive Summary |
| 2.Global Industrial Internet Of Things Iot Market Introduction |
| 2.1.Global Industrial Internet Of Things Iot Market - Taxonomy |
| 2.2.Global Industrial Internet Of Things Iot Market - Definitions |
| 2.2.1.Component |
| 2.2.2.Services |
| 2.2.3.Platfrom |
| 2.2.4.End User |
| 2.2.5.Region |
| 3.Global Industrial Internet Of Things Iot Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Industrial Internet Of Things Iot Market Analysis, 2020 - 2024 and Forecast 2025 - 2031 |
| 4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Industrial Internet Of Things Iot Market By Component , 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 5.1. Solution |
| 5.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Services |
| 5.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Platform |
| 5.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6.Global Industrial Internet Of Things Iot Market By Services, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 6.1. Professional |
| 6.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Managed |
| 6.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7.Global Industrial Internet Of Things Iot Market By Platfrom, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 7.1. Connectivity Management |
| 7.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Application Management |
| 7.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Device Management |
| 7.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 8.Global Industrial Internet Of Things Iot Market By End User, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 8.1. Manufacturing |
| 8.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Energy & Power |
| 8.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Oil & Gas |
| 8.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Healthcare |
| 8.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Logistics & Transport |
| 8.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 8.6. Agriculture |
| 8.6.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 8.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.6.3. Market Opportunity Analysis |
| 9.Global Industrial Internet Of Things Iot Market By Region, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 9.1. North America |
| 9.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.1.3. Market Opportunity Analysis |
| 9.2. Europe |
| 9.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.2.3. Market Opportunity Analysis |
| 9.3. Asia Pacific (APAC) |
| 9.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.3.3. Market Opportunity Analysis |
| 9.4. Middle East and Africa (MEA) |
| 9.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.4.3. Market Opportunity Analysis |
| 9.5. Latin America |
| 9.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.5.3. Market Opportunity Analysis |
| 10.North America Industrial Internet Of Things Iot Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 10.1. Component Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Solution |
| 10.1.2.Services |
| 10.1.3.Platform |
| 10.2. Services Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Professional |
| 10.2.2.Managed |
| 10.3. Platfrom Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Connectivity Management |
| 10.3.2.Application Management |
| 10.3.3.Device Management |
| 10.4. End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Manufacturing |
| 10.4.2.Energy & Power |
| 10.4.3.Oil & Gas |
| 10.4.4.Healthcare |
| 10.4.5.Logistics & Transport |
| 10.4.6.Agriculture |
| 10.5. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.5.1.United States of America (USA) |
| 10.5.2.Canada |
| 11.Europe Industrial Internet Of Things Iot Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 11.1. Component Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Solution |
| 11.1.2.Services |
| 11.1.3.Platform |
| 11.2. Services Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Professional |
| 11.2.2.Managed |
| 11.3. Platfrom Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Connectivity Management |
| 11.3.2.Application Management |
| 11.3.3.Device Management |
| 11.4. End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.Manufacturing |
| 11.4.2.Energy & Power |
| 11.4.3.Oil & Gas |
| 11.4.4.Healthcare |
| 11.4.5.Logistics & Transport |
| 11.4.6.Agriculture |
| 11.5. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.5.1.Germany |
| 11.5.2.France |
| 11.5.3.Italy |
| 11.5.4.United Kingdom (UK) |
| 11.5.5.Spain |
| 12.Asia Pacific (APAC) Industrial Internet Of Things Iot Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 12.1. Component Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Solution |
| 12.1.2.Services |
| 12.1.3.Platform |
| 12.2. Services Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Professional |
| 12.2.2.Managed |
| 12.3. Platfrom Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Connectivity Management |
| 12.3.2.Application Management |
| 12.3.3.Device Management |
| 12.4. End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.Manufacturing |
| 12.4.2.Energy & Power |
| 12.4.3.Oil & Gas |
| 12.4.4.Healthcare |
| 12.4.5.Logistics & Transport |
| 12.4.6.Agriculture |
| 12.5. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.5.1.China |
| 12.5.2.India |
| 12.5.3.Australia and New Zealand (ANZ) |
| 12.5.4.Japan |
| 12.5.5.Rest of APAC |
| 13.Middle East and Africa (MEA) Industrial Internet Of Things Iot Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 13.1. Component Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Solution |
| 13.1.2.Services |
| 13.1.3.Platform |
| 13.2. Services Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Professional |
| 13.2.2.Managed |
| 13.3. Platfrom Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Connectivity Management |
| 13.3.2.Application Management |
| 13.3.3.Device Management |
| 13.4. End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Manufacturing |
| 13.4.2.Energy & Power |
| 13.4.3.Oil & Gas |
| 13.4.4.Healthcare |
| 13.4.5.Logistics & Transport |
| 13.4.6.Agriculture |
| 13.5. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.5.1.GCC Countries |
| 13.5.2.South Africa |
| 13.5.3.Rest of MEA |
| 14.Latin America Industrial Internet Of Things Iot Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 14.1. Component Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.1.1.Solution |
| 14.1.2.Services |
| 14.1.3.Platform |
| 14.2. Services Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.2.1.Professional |
| 14.2.2.Managed |
| 14.3. Platfrom Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.3.1.Connectivity Management |
| 14.3.2.Application Management |
| 14.3.3.Device Management |
| 14.4. End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.4.1.Manufacturing |
| 14.4.2.Energy & Power |
| 14.4.3.Oil & Gas |
| 14.4.4.Healthcare |
| 14.4.5.Logistics & Transport |
| 14.4.6.Agriculture |
| 14.5. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.5.1.Brazil |
| 14.5.2.Mexico |
| 14.5.3.Rest of LA |
| 15. Competition Landscape |
| 15.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 15.2.1.Cisco Systems, Inc. |
| 15.2.2.General Electric |
| 15.2.3.Intel Corporation |
| 15.2.4.Rockwell Automation, Inc. |
| 15.2.5.Abb Group |
| 15.2.6.Texas Instruments, Inc. |
| 15.2.7.Dassault Systemes |
| 15.2.8.Honeywell International, Inc. |
| 15.2.9.Huawei Technology Co., Ltd., |
| 15.2.10.IBM Corporation |
| 16. Research Methodology |
| 17. Appendix and Abbreviations |
Key Market Players
Author
Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of experience in the field of market research. Sravani is adept at creating competitive evaluations, precise market estimations, and market projections, emphasizing the food and beverage and information and communication technology (ICT) industries. Her areas of competence are identifying important players, projecting market trends, and assessing the potential for industry growth. She applies a strong analytical approach to provide precise market estimates and thorough industry analysis, empowering organizations to make data-driven decisions. Sravani's estimating and forecasting abilities are essential for businesses to take advantage of new opportunities and effectively manage dynamic market environments.