At present, the pressure on China’s economic development is increasing day by day due to the profound changes in the internal and external environment. The global economic pattern is undergoing significant changes in terms of the external environment. Adjusting and optimizing the industrial structure will aid in achieving the goal of facilitating transformation through steady growth in the short term. Meanwhile, it will also accelerate sustainable economic development. In this study, the relevant theories of industrial structure optimization are described based on the impact of wireless mobile networks and the Internet of things (IoT) industry. Based on the gray correlation degree, the high- and new-tech industries under the development of the IoT industry are analyzed and the impact of optimization of the high- and new-tech industry structure is investigated. The results show that the development of the IoT industry has driven the development of the high- and new-tech industry. The gray correlation between the development of the IoT industry and the high- and new-tech industry obtained is 0.64, indicating a strong correlation. The average output share of the electronic computer and office equipment manufacturing industries is 47.09%. The average output ratio of the industrial structure optimization of the electronics and communication manufacturing industry is 42.55%. Moreover, the proportion of the output of medical manufacturing and medical equipment and instrument manufacturing industrial structure optimization is small, 15.63% and 10.54%, respectively. The results have significant value in the research on the impact of the development of the IoT industry on the high- and new-tech industry under the wireless mobile network and the effect of its industrial structure optimization.