Europe was the second largest regional market for consumer IoT market in 2022 amounting to around 20 billion U.S. dollars. Between 2023 and 2030, the European market was forecast to grow by a compound annual growth rate of 11.8 percent, reaching a projected 49.1 billion U.S. dollars in 2030.

More information on the global consumer IoT market can be found here.

The Europe IoT Security Market Report is Segmented by Security Type (Network Security, Endpoint Security, Application Security, and More), Solution (Hardware, Software, and Services), Deployment Mode (On-Premise and Cloud), End-User Industry (Automotive and Transportation, Healthcare and Life Sciences, Government and Defence, and More), and Country. The Market Forecasts are Provided in Terms of Value (USD).

Europe Massive IoT market USD 21755.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.7% from 2024 to 2031. High investment in advanced technology is expected to aid the sales to USD 88724.3 million by 2031

In 2022, Germany was the largest regional market for consumer IoT market in Europe amounting to around *** billion U.S. dollars. Between 2023 and 2030, the German market was forecast to grow by a compound annual growth rate of **** percent, reaching a projected **** billion U.S. dollars in 2030. More information on the global consumer IoT market can be found here.

The North American and European IoT Gateway Market is segmented by Application (Home Automation and Security, Mobility and Transportation, Industrial and Infrastructure), by End-user Industry (Automotive and Transportation, Industrial, Oil & Gas, Retail, BFSI, Aerospace & Defense) and Geography.

Europe IoT Connectivity Management Platform market will be USD 2235.36 million in 2024 and will grow at a compound annual growth rate (CAGR) of 28.40% from 2024 to 2031. Increasing adoption of IoT technologies across various sectors is expected to aid the sales to USD 6543.5 million by 2031

Gain insights into the Vietnam MRO Market size at USD 155 in 2023, featuring Leading Players, market growth, and industry trends.

This statistic displays the market share of the Internet of Things (IoT) in Europe in 2014 and in 2020, broken down by country. The United Kingdom is estimated to have the largest IoT market share in Europe by 2020.

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IoT Platform Market Size 2024-2028

The IoT platform market size is forecast to increase by USD 20.72 billion, at a CAGR of 26.06% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing adoption of IoT devices in various industries. Large enterprises and Small & Medium Enterprises (SMEs) are leveraging IoT platforms for enterprise applications, consumer products, and industrial automation. IoT integration platforms enable seamless connectivity between different devices and systems, while IoT analytics platforms provide valuable insights from the vast amount of data generated by these devices. Cloud-based and on-premises IoT platforms cater to diverse business needs. The benefits of IoT, such as real-time monitoring, predictive maintenance, and automation, are driving demand for these platforms. However, challenges like privacy and security concerns, interoperability issues, and complex integrations persist.

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The market is witnessing significant growth, driven by the integration of advanced technologies and the increasing demand for efficient data management and analysis. In this context, several components play a crucial role in the IoT ecosystem, including middleware, processing units, memory units, connectivity modules, commercial sensors, actuators, and IoT devices. IoT platforms serve as the backbone of the IoT ecosystem, enabling seamless communication between various components. Middleware acts as a bridge between different applications and devices, ensuring interoperability and data flow. Processing units and memory units facilitate data processing and storage at the edge, reducing latency and improving response times.

Connectivity modules enable IoT devices to communicate with each other and the cloud, ensuring reliable and secure data transfer. Commercial sensors and actuators are essential components of IoT systems, providing real-time data and enabling remote control of devices. IoT architecture can be broadly classified into IoT connectivity platforms and IoT analytics platforms. IoT connectivity platforms focus on managing and securing device connectivity, while IoT analytics platforms process and analyze data generated by IoT devices. Advancements in technologies such as 5G networks, edge computing, big data, AI, and Industry 4.0 are transforming the IoT landscape. 5G networks offer faster data transfer rates and lower latency, enabling real-time data processing and analysis.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

End-user

  Manufacturing
  Retail
  Healthcare
  ICT
  Others


Deployment

  Public cloud
  Private cloud
  Hybrid


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    Japan


  Middle East and Africa



  South America

By End-user Insights

The manufacturing segment is estimated to witness significant growth during the forecast period. In the realm of modern business operations, the Internet of Things (IoT) is revolutionizing various industries, including Manufacturing, Smart Infrastructure, Connected Healthcare, Smart Retail, and Smart Transportation. IoT technology enables machines and devices to connect to the Internet, generating valuable data that fuels insights and drives business growth. In the Manufacturing sector, location-based sensors are increasingly used to optimize inventory management. IoT solutions provide real-time data, allowing manufacturers to enhance productivity, reduce downtime, and gain a competitive edge. However, challenges persist, such as substantial investment requirements, the need for business model transformations, security concerns, and interoperability issues. Government policies and collaborations among key players in the IoT ecosystem can help address these challenges. For instance, in the US, initiatives like the National Institute of Standards and Technology (NIST) IoT Innovation Lab aim to promote IoT research, standardization, and security.

Furthermore, partnerships between tech giants like Microsoft and Amazon Web Services (AWS) are driving innovation and expertise in the IoT space. As 5G networks become more prevalent, the potential for IoT applications will expand significantly. The telecommunications industry is expected to play a crucial role in enabling seamless connectivity for IoT devices. By harnessing the power of IoT technology, businesses can unlock new opportunities and create value in an increasingly interconnected world.

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The manufacturing segment was valued at USD 598.40 million in 2018 and showed a gradual increase during the forecast period.

R

The European IoT security market is experiencing robust growth, driven by the increasing adoption of IoT devices across diverse sectors and heightened concerns regarding data breaches and cyberattacks. The market, valued at approximately €[Estimate based on XX Million and assumed exchange rate, e.g., €Y Million] in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 11.85% from 2025 to 2033. This expansion is fueled by several key factors. Firstly, the proliferation of connected devices in industries like automotive, healthcare, and manufacturing necessitates robust security solutions to protect sensitive data and maintain operational integrity. Secondly, stringent government regulations regarding data privacy and cybersecurity are compelling organizations to invest heavily in advanced security measures. Thirdly, the emergence of sophisticated cyber threats targeting IoT infrastructure is driving demand for sophisticated solutions like network security, endpoint security, and cloud security. The software segment is expected to dominate the market due to its scalability and cost-effectiveness, while services will experience significant growth driven by the need for managed security services and professional expertise. The United Kingdom, Germany, and France are currently the largest markets within Europe, although other nations are showing significant growth potential, particularly those with burgeoning IoT adoption rates. However, challenges remain. The complexity of IoT ecosystems, often involving a multitude of devices and platforms, poses difficulties for effective security management. Furthermore, the interoperability challenges between different IoT devices and security solutions can hinder the deployment of comprehensive security strategies. Finally, the skills gap in cybersecurity professionals further exacerbates the challenges faced by organizations in effectively securing their IoT infrastructure. Despite these restraints, the long-term outlook for the European IoT security market remains exceptionally positive, driven by ongoing technological advancements, increased awareness of cybersecurity risks, and a growing regulatory landscape that promotes the adoption of robust security practices. The forecast period of 2025-2033 will see significant innovation and consolidation within the market, shaping the competitive landscape and driving further growth. Recent developments include: November 2022 - Sophos Launched Managed Detection and Response (MDR) Service from an endpoint security provider that integrates vendor-agnostic telemetry. MDR is capable of threat detection and response capabilities. MDR offers unprecedented visibility and detection across diverse operating environments., November 2022 - Wipro launches European cyber security consultancy services. Wipro, a technology services and consulting provider has launched a strategic cyber security consulting service in Europe that is intended to give clients a complete solution to cope with security threats. Customers will have access to the whole range of cyber security capabilities offered by the organization, from strategy and execution to managed services, owing to the new offering accessible through Wipro CRS Europe., September 2022 - The European Commission launches a new Cyber Resilience Act to secure IoT devices in Europe. The Act prescribes minimum security standards for connected devices during product development and throughout the product life cycle to increase the security of European IoT software and hardware. In addition to holding manufacturers responsible for ensuring that their products are digitally secure, the Act will provide customers with further information about the security of their gadgets., January 2022- Based on Govt. United Kingdom report, the government of the United Kingdom provides software and technical assistance to Unite Kingdom entrepreneurs to help their growth. From the beginning of January 2022, applications are set to be open for the government's Help to Grow: Digital schemes, which assist smaller businesses in implementing digital technologies in favor of growth. Moreover, the project also provides businesses with discounts of up to £5,000 ( USD 5266.50) on approved Digital Accounting and Customer Relations Management (CRM) software. The government provides a dedicated website for this scheme, which offers free and impartial support and is currently operational to boost businesses' digital skills.. Key drivers for this market are: Increasing Number of Data Breaches, Emergence of Smart Cities. Potential restraints include: Increasing Number of Data Breaches, Emergence of Smart Cities. Notable trends are: Increasing Number of Data Breaches is Expected to Boost the Demand.

The Europe Cellular IoT Market would witness market growth of 24.4% CAGR during the forecast period (2024-2031). The Germany market dominated the Europe Cellular IoT Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,435.6 milli

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Industrial Internet Of Things Market Size 2025-2029

The Industrial Internet of Things (IoT) market size is forecast to increase by USD 195.8 billion at a CAGR of 14.8% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing adoption of industrial automation to enhance productivity and efficiency in various industries. This trend is further fueled by the evolution of global device managers, enabling seamless integration and management of IoT devices. However, despite these opportunities, there are challenges that require careful consideration. One major challenge is the lack of awareness and efficient management of IoT initiatives and investments. Companies must prioritize strategies to address this issue, such as implementing IoT management platforms and educating stakeholders on the benefits of IoT.
Effective navigation of these challenges will be crucial for businesses seeking to capitalize on the vast potential of the Industrial IoT market. By focusing on strategic planning and operational excellence, companies can successfully leverage IoT technologies to drive innovation, improve operational efficiency, and gain a competitive edge.

What will be the Size of the Industrial Internet Of Things (IoT) Market during the forecast period?

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The market encompasses the integration of electronic devices, sensors, and networking technology to optimize industrial processes and improve productivity. This market is experiencing significant growth due to the increasing affordability of sensors and semiconductors, enabling more devices to connect and exchange data in real-time. Big data analysis, machine learning, and AI are key drivers, allowing for predictive maintenance, workflow automation, and M2M communication. Technology advancements, such as power efficiency, worker safety, and standardization of IPv6, are also fueling market expansion. The automotive sector is a major adopter, with applications ranging from fleet management to autonomous vehicles. Blockchain and wireless technology are emerging trends, offering enhanced security and connectivity.
Cloud computing platforms, such as Microsoft Azure and Amazon Web Services, are essential for managing the vast amounts of data generated by IoT devices. Market incumbents are focusing on operational competence and productivity improvement, ensuring their solutions remain competitive in this rapidly evolving landscape. Overall, the Industrial IoT market is poised for continued growth, transforming industries and reshaping the digital-human workforce.

How is this Industrial Internet Of Things (IoT) Industry segmented?

The industrial internet of things (IoT) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Manufacturing
  Automotive and transportation
  Energy and utilities
  Healthcare
  Others


Component

  Hardware
  Software
  Services
  Platforms


Connectivity

  Wired
  Wireless


Deployment

  On-cloud
  On-premises


Organization Size

  Large Enterprises
  Small and Medium Enterprises (SMEs)


Geography

  APAC

    Australia
    China
    India
    Japan
    South Korea


  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  South America

    Brazil


  Middle East and Africa

    UAE


  Rest of World (ROW)

By End-user Insights

The manufacturing segment is estimated to witness significant growth during the forecast period. The market is experiencing significant growth as manufacturers worldwide adopt this technology to enhance productivity and gain a competitive edge. Machines and electronic devices are connected to the Internet through software, enabling real-time data collection and analysis. This data is used for predictive maintenance, performance optimization, and worker safety. However, the IoT market faces challenges such as the need for increased investments, redesigning business models, security concerns, and interoperability issues. Favorable government policies and partnerships among industry players are addressing these challenges, leading to advancements in areas like M2M communication, AI, and edge computing. Key technologies include AWS IoT TwinMaker, AWS IoT SiteWise, Google, Ubisense, and Siemens Xcelerator.

Market dynamics are driven by the standardization of IPv6, machine learning, and Big Data. IoT applications span various industries, including machinery, food and beverage, chemicals and materials, and electrical and electronics. Market growth is further fueled by the adoption of cloud-based services, wireless technologies, and affordable processors. IoT is also transforming sectors like transportation, with applications in smart cities, transit managem

Europe's Cellular IoT Modules market will be USD 1245.75 million in 2024 and will grow at a compound annual growth rate (CAGR) of 24.5% from 2024 to 2031. Increasing smart city projects and robust IoT adoption are expected to aid the sales to USD 5946.0 million by 2031

The European Internet of Things (IoT) market revenue was expected to increase significantly, from 171 billion U.S. dollars in 2019 to 241 billion U.S. dollars in 2022.

The Europe IoT security market reached around USD 1.79 Billion in 2024. The market is projected to grow at a CAGR of 24.20% between 2025 and 2034 to reach nearly USD 15.63 Billion by 2034.

The revenue in the internet of things market in Europe was forecast to continuously increase between 2024 and 2029 by in total 107.2 billion U.S. dollars (+60.55 percent). After the tenth consecutive increasing year, the indicator is estimated to reach 284.3 billion U.S. dollars and therefore a new peak in 2029. Notably, the revenue of the internet of things market was continuously increasing over the past years.Find more in-depth information regarding the revenue concerning the smart finance segment of the internet of things market in Europe and the revenue concerning the internet of things market in the United States. The Statista Market Insights cover a broad range of additional markets.

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LTE IoT Market Size 2024-2028

The LTE IoT market size is forecast to increase by USD 16.22 billion at a CAGR of 28.8% between 2023 and 2028. The market is experiencing significant growth due to global LTE rollouts and the increasing integration of IoT devices in various industries, particularly in industrial automation and healthcare. Orthogonal Frequency Division Multiplexing (OFDM) technology, the backbone of LTE networks, enables efficient bandwidth utilization for data exchange between IoT sensors and the cloud. However, challenges persist, including the need for reliable connections and addressing connectivity issues and infrastructure limitations. As 5G networks emerge, they are expected to offer even greater bandwidth and lower latency, potentially disrupting the market. In the market, the trend towards smart cities and the Internet of Things is driving demand for LTE connectivity to support the data exchange needs of an increasing number of IoT devices. Companies in this space must stay abreast of these trends and challenges to remain competitive.

What will be the Size of the Market During the Forecast Period?

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IoT Wireless communication has been a game-changer in various industries, enabling seamless data transmission and revolutionizing the way businesses operate. Among the different generations of mobile technologies, Long-Term Evolution (LTE) has emerged as a key player in the Internet of Things (IoT) market. LTE, a cellular technology, represents the fourth generation of wireless communication, following 1G, 2G, and 3G. Its primary focus is on providing high-speed data transmission and reliable connections, making it an ideal choice for IoT devices. The global LTE rollouts have been instrumental in enabling the widespread adoption of IoT.

Furthermore, LTE's spectrally efficient design and its ability to support a large number of connected devices have made it a preferred choice for various applications, including health monitoring gadgets, home security systems, and commercial security solutions. Data exchange between IoT devices and the cloud is a crucial aspect of IoT applications. LTE's reliable connection ensures that data is transmitted efficiently and in real-time, enabling businesses to make informed decisions based on the data received. LTE networks offer different categories, such as Cat M and NB-IoT, designed specifically for IoT applications. These categories offer lower power consumption and extended battery life, making them suitable for devices that require long-lasting connectivity.

Moreover, orthogonal Frequency Division Multiplexing (OFDM) technology, used in LTE, enables efficient use of the available spectrum. This technology is essential for IoT applications, as it allows for a large number of devices to operate in the same frequency band without interfering with each other. As the world prepares for the next generation of wireless communication, 5G and LTE continue to play a significant role in the IoT market. Its ability to support a large number of connected devices and provide reliable, high-speed data transmission makes it an essential technology for various IoT applications. In conclusion, LTE's role in the IoT market is undeniable.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Technology

  NB-IoT
  LTE-M


Geography

  Europe

    Germany
    UK
    France


  North America

    US


  APAC

    China


  Middle East and Africa



  South America

By Technology Insights

The NB-IoT segment is estimated to witness significant growth during the forecast period.NB-IoT, a low-power wide area network technology, is revolutionizing the Internet of Things (IoT) market by enabling the deployment of cost-effective and energy-efficient IoT devices and services. Built on LTE Cat-M1 technology, NB-IoT is a 3GPP standard that offers longer battery life and reduced deployment costs compared to other LPWAN technologies. This technology significantly enhances user device power consumption, system capacity, and spectral efficiency, particularly in deep coverage areas. NB-IoT is capable of supporting up to 50,000 devices per NB-IoT network cell while minimizing power consumption and reaching locations where traditional cellular technology is unavailable. NB-IoT's applications span across various industries, including smart meter reading, agriculture, logistics, and smart city solutions, among others.

Furthermore, its ability to connect a vast number of devices while conserving energy and resources makes it an ideal choice for IoT deployments. With the ongoing global LTE rollouts, the demand for NB-IoT technology is expected to rise, driven by the need for reliable

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Consumer IoT Market Size 2024-2028

The consumer IoT market size is forecast to increase by USD 127.18 billion at a CAGR of 13.14% between 2023 and 2028.

The market is experiencing significant growth due to the increasing popularity of connectivity solutions for home automation and monitoring applications. Energy management is another key driver, as consumers seek to reduce energy usage and save costs. Wearable technology, particularly in the areas of health consciousness and chronic disease management, is also fueling market expansion.However, concerns over data security and privacy are major challenges, necessitating the development of advanced security solutions. Semiconductor companies are addressing these challenges through the production of chipsets designed for IoT applications. Geographic presence and strategic collaborations are also important factors, with companies expanding their offerings in home automation, autonomous driving, mobility, and IoT development kits. The market is further influenced by the integration of IoT technology into various sectors, including home entertainment, toys, and networking. As digitalization continues to transform industries, the market is poised for continued growth.

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The Internet of Things (IoT) has emerged as a game-changer in various industries, and the consumer sector is no exception. The integration of technologically advanced devices into everyday life has become increasingly popular, with home appliances leading the charge. This trend is driven by the availability of microcontrollers and wireless technologies, enabling seamless connectivity between devices and computers. The market encompasses a wide range of smart devices, from fitness trackers and smart thermostats to connected doorbells and security systems. These interconnected systems offer numerous benefits, including convenience, improved lifestyle, and data management capabilities.



However, they also present unique challenges, such as cyberattacks and data breaches. Internet users in both developed and developing economies are embracing the IoT revolution, with a growing number of households adopting smart devices. Fitness enthusiasts, for instance, can monitor their health metrics and track workouts using wearable devices. Meanwhile, homeowners can optimize energy usage with smart thermostats and enhance security with connected doorbells. As the number of connected devices grows, so does the amount of consumer data being generated. Data management software and predictive analytics play a crucial role in ensuring the secure and efficient handling of this data.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Wireless
  Wired


End-user

  Home automation
  Consumer electronics
  Wearable devices
  Healthcare


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By Type Insights

The wireless segment is estimated to witness significant growth during the forecast period.

In the market, suppliers of technology and components for wearable devices and biosensors hold a moderate level of influence. While standard components like sensors, chips, and connectivity modules are sourced from various suppliers, those offering specialized or proprietary technology hold more power due to their unique offerings. These unique offerings may include advanced algorithms for analyzing heart rate, sleep patterns, blood sugar levels, and other vital variables. In the realm of patient care, remote monitoring, and observation, IoT devices such as smartwatches and wireless wearable biosensors play a significant role.

Furthermore, as healthcare professionals increasingly rely on these devices for treatment and observation, the demand for advanced and accurate sensors and software solutions is on the rise. CE marking and other regulatory requirements ensure the quality and safety of these devices.

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The wireless segment was valued at USD 63.52 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 33% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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In North America, the Internet of Things (I

The Europe IoT Data Management Market would witness market growth of 14.2% CAGR during the forecast period (2024-2031). The Germany market dominated the Europe IoT Data Management Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $

Europe IoT Security Market Size was valued at USD 4.31 Billion in 2024 and is projected to reach USD 22.55 Billion by 2031, growing at a CAGR of 23% from 2024 to 2031.

Increasing Cybersecurity Threats in IoT Ecosystems: The European Union Agency for Cybersecurity (ENISA) reports a 300% increase in IoT-related security incidents in European countries between 2020 and 2023. The growth of linked devices has generated unprecedented vulnerabilities, with an estimated 25 billion IoT devices predicted to be in operation by 2025, significantly increasing attackers' potential attack surface. According to the European Commission's Cybersecurity Report 2023, IoT devices are currently the principal entry point for 40% of all cyber-attacks in the European economy, necessitating significant investment in strong security solutions. Rapid Digital Transformation and Smart City: Smart city projects throughout Europe are fuelling unprecedented IoT security industry growth. According to the European Smart Cities Framework, 70% of European cities have implemented IoT-based urban management systems. According to the European Investment Bank, smart city IoT investments are expected to total 55 billion euros by 2026, with security being the primary issue. The European Commission's Digital Europe Programme has recognized IoT security as a key strategic priority, allocating 1.5 billion euros to support secure digital transformation across member states.