Industrial IoT Market to Exceed USD 847 Billion by 2031 Driven by Automation, AI, and 5G

Chicago, 28th May 2025 – According to Clearview Market Insights (CVMI), the global Industrial Internet of Things (IIoT) market is projected to grow from USD 289.0 billion in 2024 to USD 847.0 billion by 2031, registering a CAGR of 16.6 percent. As enterprises accelerate digitization across physical infrastructure, IIoT solutions—powered by AI, 5G, edge computing, and cloud platforms—are transforming factory floors, utility grids, and logistics hubs.

"IIoT is no longer just about connecting machines; it's about intelligent orchestration of assets, workers, and data," said Nathan Zhou, Head of Industrial Transformation at CVMI. "From predictive maintenance to digital twins, the business case is stronger than ever."

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Key Market Figures:

  • 2024 market value: USD 289.0 billion
  • 2031 market value: USD 847.0 billion
  • Seven-year CAGR: 16.6 %
  • Manufacturing segment: 32 % of 2024 revenue
  • Asia-Pacific growth rate: 18.2 % CAGR (fastest among regions)

Market Growth Catalysts:

  • Smart Manufacturing Expansion – IIoT integrates sensors, MES systems, and robotics for real-time optimization.
  • Predictive Maintenance – AI models analyze vibration and temperature data to minimize asset downtime.
  • Energy Efficiency and ESG Goals – Smart grids and building automation utilize IIoT for load balancing and compliance.
  • Supply Chain Visibility – Asset tracking, cold chain monitoring, and condition-based logistics utilize embedded IoT.
  • Workforce Safety – Wearables and environmental sensors safeguard employees in hazardous environments.

Top Industry Players:

Company

2024 Share

2025–27 Focus

Siemens AG

11 %

Industrial Edge Marketplace, AI Copilot tools

GE Digital

9 %

Utility-focused analytics and AWS deployment

IBM

8 %

Smart factory integration via Red Hat hybrid cloud

Cisco

7 %

Secure OT networks, Cyber Vision upgrades

Rockwell Automation

6 %

Cloud-native MES, Plex + ClearObject IIoT stack

Regional Highlights:

  • North America – Private 5G deployments and DOE-funded digital manufacturing initiatives.
  • Europe – IIoT drives energy transition and cross-border supply chain transparency.
  • Asia-Pacific – Rapid smart factory growth in China, India, South Korea; government incentives play key role.

Milestones (2024–25):

Quarter

Event

Impact

Q1 2024

Siemens launched Industrial Copilot

Gen-AI assistant for plant-floor decision support

Q2 2024

GE Digital + AWS IIoT partnership

Enhanced security for energy workloads

Q3 2024

Cisco expands Cyber Vision tools

Real-time OT anomaly detection now standard

Q4 2024

Rockwell acquired ClearObject

Strengthens analytics for factory automation clients

Q1 2025

Korean port trials private 5G cranes

Boosted throughput via real-time fleet tracking

Technology Trends:

  • Edge AI – Reduces latency in critical control systems
  • Digital Twins – Improve planning, predictive analytics, and compliance
  • Blockchain – Secures supply chain traceability
  • Interoperability Middleware – Standardizes legacy machine data flows

Roadmap to 2031:

  • 2025 – Modular IIoT kits adopted by 25% of medium-sized manufacturers.
  • 2026 – AI-powered predictive maintenance achieves 90% accuracy in utilities.
  • 2027 – Digital twin adoption becomes standard in the automotive and chemical sectors.
  • 2028 – 5G-based asset tracking is deployed across 70% of global ports.
  • 2029 – Global IIoT cybersecurity framework has been finalized by ISO
  • 2030 – Autonomous plant operations tested on a large scale in Asia and Europe
  • 2031 – Over 60% of industrial assets globally are integrated into IIoT platforms.

 

 

For more insights, visit https://clearviewmarketinsights.com/

 

About Clearview Market Insights:

Clearview Market Insights is a leading market research and consulting firm providing in-depth industry analysis and strategic recommendations for businesses worldwide.

 

Media contact:

Bhavani K

Marketing and Sales Head

ClearView Market Insights

Mail: sales@clearviewmarketinsights.com

Phone: +1 917-993-7369

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