Industrial Internet Of Things Market Size, Share & Trends Report

Industrial Internet Of Things Market Size, Share & Trends Analysis Report By Component, By End-use (Manufacturing, Energy & Power, Oil & Gas, Healthcare, Logistics & Transport, Agriculture), And Segment Forecasts, 2019 - 2025

  • Published Date: Jun, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-1-68038-803-9
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 161

Report Overview

The global Industrial Internet of Things market size was valued at USD 161.14 billion in 2018 and is anticipated to register a CAGR of 29.4% during the forecast period. Growing trend of processing the contextually rich and real-time data streams generated by IoT networks and sensors using machine learning and artificial intelligence is expected to drive the growth.

Digital manufacturing technologies are beneficial for manufacturers and IIoT play a decisive role in the implementation of digital manufacturing. The industrial internet is anticipated to witness substantial growth in near future owing to the growing collaboration among industry stakeholders and rising demand for connected supply chain, which enables operational efficacy, flexibility, and conformance to regulations.

Germany industrial IoT Market

The implementation of IIoT helps save energy costs, maintenance costs, and waste and improve workforce productivity and service. IoT technology has varied application spanning from workshops and cities to automobiles and home automation. The adoption of IIoT is becoming more prominent in enabling asset monitoring, manufacturing operational intelligence, remote servicing, remote monitoring, and predictive maintenance. Government-sponsored initiatives and innovative efforts made by key companies are expected to augment the adoption of IIoT worldwide over the next six years.

Government strategies; such as ‘Industry 4.0’ in Germany, ‘Make in India’ and ‘Smart Cities Mission’ by in India, the ‘Industrial Value Chain Initiative (IVI)’ in Japan, and ‘Made in China 2025’ in China; along with favorable FDI policies encourage and improve the adoption of digital technologies across the industrial sector.

The adoption of IoT solutions is anticipated to allow manufacturers and industrialists in all sectors to have a substantial opportunity at hand where they can automate many of the complex processes involved in manufacturing along with monitoring them. The applications of Industrial IoT are using an enormous amount of available data, cloud services, as well as business analytics and enterprise mobility capabilities to improve the industrial processes.

Component Insights

Based on component, the industrial IoT market has been segmented into services, solution, and platform. The services components evaluated in the report include professional services and managed services. Similarly, the platform segment has been segregated into device management, connectivity management, and application management; while the solution segment has been categorized into data management, remote monitoring, security solutions, analytics, and others.

The solution segment accounted for the largest market share in 2018 and is anticipated to observe significant growth over the forecast period. The IIoT solution providers emphasize on introducing new information systems for various industries and verticals as part of their efforts to capture a larger industrial internet of things market share. These providers are also expected to focus on the integration of systems and sensors to ensure better operational efficiency and create new business models.

The services segment is expected to expand at the highest CAGR of over 30% during the next six years. The growth can be attributed to the massive number of connected devices that generate huge volumes of data. IIoT applications currently use cloud centralized systems that unswervingly control the operation process of the ‘things’ and flow of info from a single center. Furthermore, edge computing is anticipated to revolutionize IIoT by offering real-time analytic resolutions and mechanisms for decentralized storage and transactions amongst peers at the edge of the network.

The device management platform segment is expected to expand at the highest CAGR over the forecast period. The growth can be attributed to the myriad of functionalities device management platforms can offer, including firmware upgrades, asset provisioning, security patching, reporting, and alerting on specific metrics related to IoT assets.

End Use Insights

Based on end use, the industrial IoT market has been segmented into energy and power, manufacturing, oil and gas, logistics and transport, healthcare, agriculture, and others. The logistics and transport segment is projected to witness the fastest growth over the forecast period owing to the growing dissemination of connected transportation and logistics systems. Incumbents of the transportation and logistics industry primarily use industrial IoT for freight connectivity and monitoring.

Manufacturing is expected to emerge as the main end use segment over the next six years. The manufacturers are concentrating on wireless connectivity of the devices and sensors by taking into consideration the connectivity protocols and data transfer across IIoT platforms.

Global industrial IoT Market

IIoT is turning out to be a strategic requirement for manufacturing companies as it can helps offer more value to the customers while improving the cost efficiency of their internal operations. IIoT can also aid in predictive maintenance prevent unexpected downtime of industrial systems by sensing the initial signs of breakdown and preventing major disruptions.

The application of IIoT in healthcare is expected to witness significant growth over the forecast period. IIoT in healthcare revolves around enhancing caregiving via telemonitoring and remote monitoring. Smart home care, smart pills, robotics, personal healthcare, and Real-Time Health Systems (RTHS) can be considered as specific applications of IIoT in healthcare. The oil and gas segment is also expected to witness considerable growth over the forecast period as oil and gas companies try to strengthen their functional efficacies while curbing the safety and environmental risks.

Regional Insights

North America accounted for the largest market share in 2018. The region is home to a majority of the market players and has also been a hub of technological innovations and an early adopter of IIoT. Canada has been witnessing substantial growth, particularly as a result of the aggressive government investments encouraging adoption of IIoT solutions.

Europe was valued at over USD 53 billion in 2018 and is poised for considerable growth over the next six years. In November 2018, Qatalyst Global had convened the Industrial IoT Europe summit in Germany at the IBM Watson IoT Tower. The summit focused on connecting complex machines with state-of-the-art analytics and bringing up new insights. The European Commission is co-funding large-scale IoT pilots under the Horizon 2020 Research and Innovation program initiated in January 2017 with a contribution of EUR 100 million. In Germany, the government has launched a strategic initiative called “Industrie 4.0”, which envisages incorporating decentralized and autonomous real-time production, smart automation, and data exchange in manufacturing technologies.

Middle East and Africa is expected to witness significant growth as the organizations continue to focus on improving yields on large asset funds by utilizing the information and data analysis on their entirety. For instance, in January 2017, Al Waha Petrochemicals Company of Saudi Arabia implemented an IIoT-based service from Honeywell Connected Plant to discover the potential for exploiting propylene production.

Asia Pacific is anticipated to emerge as the fastest-growing regional market over the forecast period. The region is witnessing significant adoption of intelligent technologies, particularly in India and advanced factory automation, typically in Japan, China, and Taiwan.

IIoT Market Share Insights

Industrial IoT happens to be a dynamic market poised for critical development over the forecast period. Moreover, growing number of connected gadgets is expected to open new opportunities for startups holding expertise in advanced artificial intelligence algorithms to develop innovative IIoT solutions capable of annulling the concerns associated with IIoT

Key players leading the market in 2018 include International Business Machines Corporation (IBM); General Electric Company (GE); Intel Corporation; Siemens AG; and Cisco Systems, Inc. Other players include Rockwell Automation, Inc.; Microsoft Corporation; Atmel Corporation; ABB; and ARM Holding plc.

Industrial Internet of Things Market Report Scope

Report Attribute


Market size value in 2020

USD 214.9 billion

Revenue forecast in 2025

USD 949.42 billion

Growth Rate

CAGR of 29.4% from 2019 to 2025

Base year for estimation


Historical data

2014 - 2017

Forecast period

2019 - 2025

Quantitative units

Revenue in USD billion and CAGR from 2019 to 2025

Report coverage

Revenue forecasts, company market share, competitive landscape, growth factors, and trends

Segments covered

Component, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; the Middle East; Africa (MEA)

Country scope

U.S.; Canada; Germany; U.K.; France; China; Japan; India; South Korea; Mexico; Brazil

Key companies profiled

International Business Machines Corporation (IBM); General Electric Company (GE); Intel Corporation; Siemens AG; Cisco Systems, Inc.; Rockwell Automation, Inc.; Microsoft Corporation; Atmel Corporation; ABB; ARM Holding plc

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global Industrial Internet of Things market report on the basis of component, end use, and region:

  • Component Outlook (Revenue, USD Billion, 2014 - 2025)

    • Solution

      • Remote Monitoring

      • Data Management

      • Analytics

      • Security Solutions

      • Others

    • Services

      • Professional

      • Managed

    • Platform

      • Connectivity Management

      • Application Management

      • Device Management

  • End Use Outlook (Revenue, USD Billion, 2014 - 2025)

    • Manufacturing

    • Energy & Power

    • Oil & Gas

    • Healthcare

    • Logistics & Transport

    • Agriculture

    • Others

  • Regional Outlook (Revenue, USD Billion, 2014 - 2025)

    • North America 

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

    • Asia Pacific

      • China

      • Japan

      • India

      • South Korea

    • Latin America

      • Mexico

      • Brazil

    • The Middle East & Africa

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