Industrial internet market to double by 2025 – GlobalData
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Summary
GlobalData forecasts the global industrial internet (IIoT) market will grow at a 16.3% compound annual rate between 2024 and 2029, more than doubling to over half a trillion dollars, with manufacturing the largest segment. AI, cloud and connected sensors are shifting industrial maintenance from reactive to predictive.
Market Impact
The forecast quantifies structural growth in industrial digitization, where IoT, cloud and AI are reshaping manufacturing, logistics and maintenance economics. Cited results include large reductions in unplanned downtime and in inventory and logistics costs. This analysis is informational and avoids any directional trading claims.
Why It Matters
It frames how AI and connectivity are becoming core infrastructure for manufacturing competitiveness and supply-chain resilience.
Key Points
- The global industrial internet market is forecast to grow at a 16.3% CAGR between 2024 and 2029, more than doubling in size.
- GlobalData expects the market to exceed half a trillion dollars by 2029, with manufacturing the largest segment followed by transport and logistics.
- A 2024 Siemens survey cited found predictive maintenance can cut unplanned downtime by up to 50% and maintenance costs by 40%.
- McKinsey is cited for logistics gains, with inventory and logistics costs dropping more than 20% through autonomous routing and scheduling.
Key Entities
Evidence
The global industrial internet market will grow at a compound annual rate of 16.3% between 2024 and 2029, more than doubling in size over the same period, a new report forecasts.Supports: Supports the growth-rate forecast.
According to the 2026 edition of GlobalData’s Industrial Internet report, the market will be worth over half a trillion dollars by 2029.Supports: Supports the market-size forecast.
by adopting predictive maintenance, companies can reduce unplanned machine downtime by up to 50%, improve downtime forecasting accuracy by 85%, increase maintenance staff productivity by 55% and cut maintenance costs...Supports: Supports the predictive-maintenance figures.