Market overview
The global industrial internet of things market is worth USD 133 bn in 2026 and is forecast to reach USD 377 bn by 2036, growing at a 11.0% CAGR. United States is the largest country market and Hardware is the largest by component segment.
| Scope | Sensors, gateways, connectivity, platforms, analytics software and services used to connect machines and plants in manufacturing, energy, transport, mining and utilities. |
|---|---|
| Industry | Technology |
| Value 2025 | USD 120 bn |
| Value 2026 | USD 133 bn |
| Value 2036 | USD 377 bn |
| CAGR 2026-2036 | 11.0% |
| Volume 2026 | 3,348 million connected devices |
| Volume 2036 | 10,513 million connected devices |
| Average price 2026 | USD 39.6 per connected device |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Industrial Internet of Things market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 133 bn |
| 2027 | USD 147 bn |
| 2028 | USD 163 bn |
| 2029 | USD 181 bn |
| 2030 | USD 201 bn |
| 2031 | USD 223 bn |
| 2032 | USD 248 bn |
| 2033 | USD 275 bn |
| 2034 | USD 306 bn |
| 2035 | USD 339 bn |
| 2036 | USD 377 bn |
Industrial Internet of Things market segmentation
By component
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Hardware | 38.0% | 29.0% | USD 50.4 bn | 8.1% |
| Software and platforms | 27.0% | 33.9% | USD 35.8 bn | 13.6% |
| Services | 25.0% | 27.5% | USD 33.1 bn | 12.1% |
| Connectivity | 10.0% | 9.6% | USD 13.3 bn | 10.6% |
By industry
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Manufacturing | 36.0% | 36.5% | USD 47.7 bn | 11.1% |
| Energy and utilities | 18.0% | 19.1% | USD 23.9 bn | 11.7% |
| Transportation and logistics | 14.0% | 14.2% | USD 18.6 bn | 11.1% |
| Oil, gas and mining | 10.0% | 8.4% | USD 13.3 bn | 9.1% |
| Healthcare | 8.0% | 8.9% | USD 10.6 bn | 12.2% |
| Other industries | 14.0% | 13.0% | USD 18.6 bn | 10.1% |
By connectivity
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Wired and industrial Ethernet | 34.0% | 29.0% | USD 45.1 bn | 9.2% |
| Cellular (4G and 5G) | 24.0% | 30.0% | USD 31.8 bn | 13.5% |
| Wi-Fi and short range | 22.0% | 21.0% | USD 29.2 bn | 10.5% |
| LPWAN and satellite | 12.0% | 14.0% | USD 15.9 bn | 12.7% |
| Legacy fieldbus and serial | 8.0% | 6.0% | USD 10.6 bn | 7.8% |
By deployment
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Cloud-based | 46.0% | 52.0% | USD 61.0 bn | 12.4% |
| Hybrid | 28.0% | 28.0% | USD 37.1 bn | 11.0% |
| On-premise and edge | 26.0% | 20.0% | USD 34.5 bn | 8.1% |
By application
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Predictive maintenance | 28.0% | 30.0% | USD 37.1 bn | 11.8% |
| Asset tracking and monitoring | 22.0% | 20.0% | USD 29.2 bn | 9.9% |
| Process and quality control | 20.0% | 20.0% | USD 26.5 bn | 11.0% |
| Energy and resource management | 14.0% | 14.0% | USD 18.6 bn | 11.0% |
| Safety and remote operations | 10.0% | 10.0% | USD 13.3 bn | 11.0% |
| Supply chain visibility | 6.0% | 6.0% | USD 8.0 bn | 11.0% |
Top 25 countries for industrial internet of things by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 82.5% of 2026 revenue and the 25 countries below together hold 94.0%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | United States | USD 35.8 bn | 27.0% | USD 93.4 bn | 10.1% |
| 2 | China | USD 31.8 bn | 24.0% | USD 104 bn | 12.6% |
| 3 | Germany | USD 9.3 bn | 7.0% | USD 23.3 bn | 9.7% |
| 4 | Japan | USD 8.0 bn | 6.0% | USD 18.1 bn | 8.6% |
| 5 | India | USD 5.3 bn | 4.0% | USD 21.5 bn | 15.0% |
| 6 | South Korea | USD 5.3 bn | 4.0% | USD 14.7 bn | 10.7% |
| 7 | United Kingdom | USD 4.6 bn | 3.5% | USD 11.7 bn | 9.7% |
| 8 | France | USD 4.0 bn | 3.0% | USD 9.8 bn | 9.4% |
| 9 | Italy | USD 2.7 bn | 2.0% | USD 6.8 bn | 9.8% |
| 10 | Canada | USD 2.7 bn | 2.0% | USD 6.8 bn | 9.8% |
| 11 | Singapore | USD 2.1 bn | 1.6% | USD 6.3 bn | 11.3% |
| 12 | Mexico | USD 1.9 bn | 1.4% | USD 6.1 bn | 12.3% |
| 13 | Spain | USD 1.7 bn | 1.3% | USD 4.9 bn | 11.3% |
| 14 | Netherlands | USD 1.5 bn | 1.1% | USD 3.8 bn | 10.1% |
| 15 | Switzerland | USD 1.3 bn | 1.0% | USD 3.4 bn | 10.1% |
| 16 | Brazil | USD 1.1 bn | 0.9% | USD 3.7 bn | 12.3% |
| 17 | Turkey | USD 994 mn | 0.8% | USD 3.2 bn | 12.3% |
| 18 | Poland | USD 875 mn | 0.7% | USD 2.8 bn | 12.3% |
| 19 | Taiwan | USD 769 mn | 0.6% | USD 2.2 bn | 11.2% |
| 20 | Saudi Arabia | USD 676 mn | 0.5% | USD 2.1 bn | 12.2% |
| 21 | Sweden | USD 597 mn | 0.5% | USD 1.5 bn | 10.0% |
| 22 | Australia | USD 530 mn | 0.4% | USD 1.5 bn | 10.7% |
| 23 | Russia | USD 464 mn | 0.3% | USD 1.2 bn | 10.0% |
| 24 | Indonesia | USD 411 mn | 0.3% | USD 1.3 bn | 12.4% |
| 25 | Thailand | USD 358 mn | 0.3% | USD 1.1 bn | 12.2% |
| Rest of world | USD 7.9 bn | 6.0% | USD 21.3 bn | 10.4% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- Siemens
- Rockwell Automation
- Honeywell
- ABB
- Schneider Electric
- PTC
- Microsoft
- GE Digital
Group 2: Regional and specialist players
- Cisco
- Hitachi
- Emerson
- Robert Bosch
- Samsara
- Yokogawa
- Mitsubishi Electric
- Advantech
- AVEVA
- Huawei
Group 3: Emerging and niche players
- Litmus Automation
- Cognite
- Uptake Technologies
- Losant
- Seeq
- MachineMetrics
- Sight Machine
- Tulip Interfaces
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the industrial internet of things market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 11.0% is calculated from the resulting values.
The market is divided by component, by industry, by connectivity, by deployment, by application. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the industrial internet of things market?
The global industrial internet of things market is estimated at USD 120 bn in 2025 and USD 133 bn in 2026.
How fast will the industrial internet of things market grow?
It is forecast to reach USD 377 bn by 2036, a compound annual growth rate of 11.0% from 2026, an increase of USD 244 bn.
Which country is the largest market for industrial internet of things?
United States is the largest market by revenue at USD 35.8 bn in 2026, 27.0% of the global total. The three largest countries together hold 58.0%.
Which country is growing fastest?
Among the ten largest markets, India is growing fastest at 15.0% a year from 2026 to 2036.
Which industrial internet of things segment is largest?
In the by component split, Hardware is the largest segment with 38.0% of 2026 revenue.
Who are the leading industrial internet of things companies?
Global leaders include Siemens, Rockwell Automation, Honeywell, ABB.
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