IIoT is evolving as the future of system and process integration across Operations Technology (OT) and Information Technology (IT). The dynamic nature of OT and IT across diverse industrial sectors has led to the emergence of evolving threats which are challenging to address. We present a holistic analysis of the IIoT paradigm, identifying specific domains of IIoT adoption, assessing threats and vulnerabilities, and providing a detailed analysis of existing countermeasures. We also identify future research directions in IIoT cybersecurity to address future threats and vulnerabilities.