The number of Internet of Things (IoT) devices worldwide is forecast to more than double from 19.8 billion in 2025 to more than 40.6 billion IoT devices by 2034. In 2034, the highest number of IoT devices will be found in China, with around 7.51 billion consumer devices. IoT devices are used in all types of industry verticals and consumer markets, with the consumer segment accounting for around 60 percent of all IoT or connected devices in 2025. This share is projected to stay at this level over the next ten years. Major verticals and use cases Major industry verticals with currently more than 100 million connected IoT devices are electricity, gas, steam & A/C, water supply & waste management, retail & wholesale, transportation & storage, and government. Overall, the number of IoT devices across all industry verticals is forecast to grow to more than eight billion by 2033. Major use-cases The most important use case for IoT devices in the consumer segment are consumer internet & media devices such as smartphones, where the number of IoT devices is forecast to grow to more than 17 billion by 2033. Other use cases with more than one billion IoT devices by 2033 are connected (autonomous) vehicles, IT infrastructure, asset tracking & monitoring, and smart grid.

The total installed base of Internet of Things (IoT) connected devices worldwide is projected to amount to **** billion units by 2025, a sharp jump from the **** billion units that are expected in 2021. IoT vs non-IoT Examples of IoT connections include connected cars, smart home devices, and connected industrial equipment. In comparison, non-IoT connections include smartphones, laptops, and computers, with connections of these types of devices set to amount to just over ** billion units by 2025 – three times fewer than IoT device connections. As a result, revenue from the global IoT market is set to grow considerably in the coming years. 5G and IoT The development of faster and more reliable networks, especially with the extensive rollout of 5G, accelerates the pace with which IoT deployment occurs. Due to this development, many vehicles are becoming increasingly connected, a trend that is forecast to continue both in the commercial and consumer connected car markets.

By 2025, forecasts suggest that there will be more than ** billion Internet of Things (IoT) connected devices in use. This would be a nearly threefold increase from the IoT installed base in 2019. What is the Internet of Things? The IoT refers to a network of devices that are connected to the internet and can “communicate” with each other. Such devices include daily tech gadgets such as the smartphones and the wearables, smart home devices such as smart meters, as well as industrial devices like smart machines. These smart connected devices are able to gather, share, and analyze information and create actions accordingly. By 2023, global spending on IoT will reach *** trillion U.S. dollars. How does Internet of Things work? IoT devices make use of sensors and processors to collect and analyze data acquired from their environments. The data collected from the sensors will be shared by being sent to a gateway or to other IoT devices. It will then be either sent to and analyzed in the cloud or analyzed locally. By 2025, the data volume created by IoT connections is projected to reach a massive total of **** zettabytes. Privacy and security concerns   Given the amount of data generated by IoT devices, it is no wonder that data privacy and security are among the major concerns with regard to IoT adoption. Once devices are connected to the Internet, they become vulnerable to possible security breaches in the form of hacking, phishing, etc. Frequent data leaks from social media raise earnest concerns about information security standards in today’s world; were the IoT to become the next new reality, serious efforts to create strict security stands need to be prioritized.

Global market for wireless medical device connectivity is estimated to increase from $1.7 billion in 2022 to $5.0 billion by 2027, at a CAGR of 24.0% from 2022 through 2027.

The global medical device connectivity market is projected to grow at a CAGR of 22% from 2025 to 2030. This growth is propelled by the surge in healthcare digitization, an increasing need for real-time patient monitoring, and regulatory mandates emphasizing data integration and interoperability across healthcare systems. Medical device connectivity enhances clinical workflows, enabling seamless […]

Explore the growth potential of Market Research Intellect's Connectivity Platforms For Iot Devices Market Report, valued at USD 12.5 billion in 2024, with a forecasted market size of USD 35.2 billion by 2033, growing at a CAGR of 15.8% from 2026 to 2033.

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IoT Devices Market size was valued at USD 125.06 Billion in 2023 and is projected to reach USD 621.45 Billion by 2031, growing at a CAGR of 22.19% from 2024 to 2031.

Key Market Drivers Increased adoption of smart devices: Consumers are increasingly embracing smart devices in their homes, transforming everyday spaces into connected ecosystems. Wearables like fitness trackers and smartwatches are not just monitoring health metrics but also integrating with smartphones for contactless payments and personalized music streaming. Smart appliances, from refrigerators that can recommend recipes based on available ingredients to ovens that can be controlled remotely, are enhancing convenience and efficiency in the kitchen. Rising demand for data analytics: In manufacturing, sensor data from IoT devices can be used to monitor equipment performance, predict maintenance needs, and optimize production processes. This can lead to significant cost savings and improved operational efficiency. In retail, data collected from connected devices can provide insights into customer behavior, such as product preferences and traffic patterns within stores. This information can be used to optimize product placement, personalize marketing campaigns, and improve the overall customer experience. Focus on smart cities and industries: Governments and businesses are increasingly investing in smart city initiatives and industrial automation, both of which rely heavily on interconnected devices for data collection and control. This focus fuels the demand for specialized IoT devices in several areas such as Traffic management systems, environmental monitoring solutions, connected public transportation networks, and smart grids for optimized energy distribution are just a few examples of how IoT devices are transforming urban environments. These devices collect data on everything from traffic flow and air quality to energy consumption and parking availability. This data is then used to improve efficiency, safety, and sustainability in cities.

Gain insights into the growth determinants, challenges, and opportunities in the Medical Device Connectivity Market with our comprehensive research report

Global IoT Gateway Devices Market size is set to expand from $ 2.59 Billion in 2023 to $ 3.44 Billion by 2032, with an anticipated CAGR of around 3.2% from 2024 to 2032.

The global Medical Device Connectivity market size reached USD 1.55 Billion in 2021 and is expected to reach USD 11.17 Billion in 2030 registering a CAGR of 7.42%. Medical Device Connectivity market growth is primarily driven owing to increasingly stringent regulatory norms and requirements regardin...

IoT Connectivity Market size was valued at USD 92.16 Billion in 2024 and is projected to reach USD 191.5 Billion by 2031, growing at a CAGR of 10.56% from 2024 to 2031.

The IoT connectivity market is driven by the increasing adoption of Internet of Things (IoT) devices across various industries, including manufacturing, healthcare, agriculture, and smart cities, seeking to enhance operational efficiency, automation, and data-driven decision-making. The proliferation of high-speed internet and the rollout of advanced communication technologies like 5G significantly boost the capacity and reliability of IoT networks, facilitating seamless connectivity and real-time data exchange. Growing investments in smart infrastructure and the rising demand for connected devices in consumer applications, such as smart homes and wearable technology, further fuel market expansion. Additionally, advancements in cloud computing and edge computing technologies provide scalable and flexible connectivity solutions, while stringent regulatory frameworks on data security and interoperability standards drive the need for robust and secure IoT connectivity solutions globally.

As of February 2025, short-range IoT devices, such as smart home assistants and wearable fitness trackers, were the most internet-connected devices worldwide, reaching 17.4 billion users. Mobile phones followed, with 8.65 billion connections, which highlights its widespread adoption. Wide-area IoT devices, such as connected vehicles and remote monitoring systems, accounted for 4.93 billion connections.

Medical device connectivity market is expected to grow from USD 2.56 bn in 2024 to USD 3.34 bn in 2025 and USD 25.25 bn by 2035, at a healthy CAGR of 22.4%

According to Cognitive Market Research, the global IoT Connectivity Management Platform market size will be USD 7451.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 17.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 2980.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 2235.36 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 1713.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 372.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 149.02 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.2% from 2024 to 2031.
The Cloud-based less than 200 mL category is the fastest growing segment of the IoT Connectivity Management Platform industry

Market Dynamics of IoT Connectivity Management Platform Market

Key Drivers for IoT Connectivity Management Platform Market

Growing adoption of IoT devices across industries drives demand for connectivity platforms to Boost Market Growth

The increasing adoption of IoT devices across various industries is a key factor driving the growth of the IoT Connectivity Management Platform Market. The need for management platforms that can effectively and efficiently handle these devices is growing as numerous sectors implement IoT devices to improve their operations. They ensure seamless connectivity, real-time monitoring, and management of IoT devices for businesses, leading to informed decision-making that results in operational effectiveness. Many industries such as healthcare, retail, manufacturing, and energy have adopted IoT intending to improve processes and reduce costs while increasing productivity. The rising demand for secure and dependable solutions from connectivity management platforms is due to the increased usage of IoT gadgets worldwide. Furthermore, more and more connected gadgets mean more data; hence there is a need for these platforms to manage such volumes of data thus ensuring smooth communication between different sectors while making it easy to administer various devices.

The increasing need for real-time monitoring and management to Drive Market Growth

The growing need for real-time monitoring and management is a key factor driving the growth of the IoT Connectivity Management Platform Market. As businesses rely more on IoT devices to monitor operations, track assets, and gather data, having the ability to manage these devices in real time becomes essential. Real-time monitoring allows companies to quickly detect issues, adjust, and ensure smooth operations without delays. This is especially important in industries like healthcare, manufacturing, and energy, where timely responses can prevent problems and reduce downtime. IoT connectivity management platforms provide businesses with the tools to monitor and manage their devices efficiently, ensuring that all connected devices are functioning properly. With the increasing volume of data generated by IoT devices, the demand for platforms that offer real-time control and oversight is growing, helping businesses stay agile and responsive to changes in their operations. This trend is contributing significantly to the expansion of the market.

Restraint Factor for the IoT Connectivity Management Platform Market

High initial costs hinder adoption among small enterprises, will Limit Market Growth

High initial costs are a major factor that limits the adoption of IoT Connectivity Management Platforms, especially among small enterprises. Setting up these platforms requires significant investment in hardware, software, and skilled personnel, which can be a challenge for smaller businesses with limited budgets. The cost of integrating IoT devices and managing connectivity can be a barrier, making it difficult for small enterprises to fully embrace these technologies. As a result, the high upfront expenses slow down the growth of the IoT C...

Smart Connected Devices Market Outlook

The global market size for smart connected devices was valued at approximately USD 487 billion in 2023 and is expected to reach around USD 1,235 billion by 2032, growing at a compound annual growth rate (CAGR) of 10.7% during the forecast period. This substantial growth is primarily driven by the rapid adoption of Internet of Things (IoT) technologies and the increasing consumer demand for seamless connectivity across multiple devices. The proliferation of smart devices such as smartphones, tablets, wearables, and smart home gadgets has revolutionized how individuals interact with technology, driving the market forward. Key growth factors include technological advancements, increased internet penetration, and a burgeoning middle class in developing regions, all of which are contributing to the market’s expansion.

One of the primary growth factors in the smart connected devices market is the accelerating pace of technological innovation. Advancements in wireless communication technologies such as 5G, Wi-Fi 6, and Bluetooth 5.0 have significantly enhanced the connectivity capabilities of smart devices, making them more efficient and user-friendly. These technologies enable faster data transfer rates, improved connectivity range, and lower latency, which are crucial for the seamless operation of smart devices. Furthermore, the integration of artificial intelligence (AI) and machine learning (ML) into smart devices has enhanced their functionalities, providing users with more personalized and intuitive experiences. Such innovations are not only driving consumer demand but are also encouraging manufacturers to invest in research and development to create more advanced and versatile products.

Another significant growth driver is the increasing consumer inclination towards smart home ecosystems. As more individuals recognize the convenience and efficiency offered by interconnected home devices, the demand for smart home solutions continues to rise. Consumers are investing in smart speakers, thermostats, lighting systems, and security cameras that can be controlled remotely via smartphones or tablets. This trend is particularly prominent in developed markets, where tech-savvy consumers are eager to adopt the latest technological advancements. The adoption of smart home devices is further accelerated by the rising awareness about energy conservation and the desire for enhanced home security, both of which are facilitated by smart technology.

The robust growth of the smartphone market also plays a crucial role in the expansion of the smart connected devices market. Smartphones have become an indispensable part of modern life, serving not only as communication tools but also as hubs for controlling other smart devices. The proliferation of affordable smartphones with advanced features has made it easier for a larger segment of the population to access smart technology. Additionally, the increasing availability of high-speed internet and data services globally has bolstered the functionality of smartphones, enabling users to seamlessly integrate them into their daily activities. This widespread adoption of smartphones is a key factor propelling the growth of the smart connected devices market.

Regional growth is also a vital aspect of the smart connected devices market's future. Asia Pacific is expected to lead the market with substantial growth due to the presence of major technology manufacturers and a burgeoning middle-class population. The region's rapid urbanization, coupled with increasing disposable incomes, is driving consumer demand for smart devices. North America, with its early adoption of technological advancements and established infrastructure, remains a significant market. Europe is also showing promising growth, driven by the increasing focus on smart city initiatives and energy management solutions. Meanwhile, markets in Latin America and the Middle East & Africa are gradually picking up pace, driven by improving internet connectivity and growing awareness of smart technologies.

Product Type Analysis

The product type segment within the smart connected devices market encompasses a diverse range of devices, including smartphones, tablets, wearables, smart home devices, and others. Smartphones dominate this segment due to their ubiquitous presence and multifunctionality. As central hubs for connectivity, smartphones facilitate communication and interaction with various smart devices, reinforcing their pivotal role in the IoT ecosystem. Manufacturers are continuously enhancing smartphone capabilities by integrating advanced technologies such as AI-d

Connectivity Platforms for IoT Devices Market Outlook

The global market for Connectivity Platforms for IoT Devices was valued at approximately USD 12.5 billion in 2023 and is projected to reach USD 48.2 billion by 2032, growing at a CAGR of 16.3% during the forecast period. This robust growth is driven by the increasing adoption of IoT devices across various sectors such as healthcare, automotive, and industrial automation. Factors such as the proliferation of smart devices, advancements in wireless communication technologies, and the increasing need for efficient data management solutions are propelling the market forward.

One of the primary growth factors for the IoT connectivity platforms market is the rapid digital transformation across industries. Businesses are increasingly integrating IoT technologies to enhance operational efficiency, streamline processes, and gain real-time insights. For instance, in industrial automation, IoT devices enable predictive maintenance, reducing downtime and operational costs. Likewise, in healthcare, IoT devices facilitate remote monitoring and telemedicine, improving patient outcomes. These applications underscore the critical role of connectivity platforms in ensuring seamless and reliable communication between IoT devices.

The surge in smart home technologies is another significant driver for the market. With the growing consumer inclination towards smart home devices such as smart speakers, thermostats, and security systems, the demand for robust connectivity platforms is escalating. These platforms enable seamless integration and control of various smart devices, enhancing the user experience. Furthermore, the advent of 5G technology is expected to bolster the market growth by providing faster and more reliable connectivity, thereby supporting the widespread adoption of IoT devices.

Additionally, government initiatives and regulatory frameworks aimed at promoting smart city projects and the adoption of IoT technologies are contributing to market growth. Governments worldwide are investing in smart infrastructure to improve urban living conditions, which in turn, boosts the demand for IoT connectivity platforms. Policies encouraging the use of energy-efficient and sustainable technologies are further augmenting the market expansion.

The role of IoT Cloud Platforms is becoming increasingly pivotal in the realm of smart home technologies. These platforms provide the necessary infrastructure for connecting and managing a multitude of smart devices, ensuring they work in harmony to deliver a seamless user experience. As consumers demand more integrated and intuitive smart home environments, IoT Cloud Platforms facilitate the real-time data exchange and processing required to meet these expectations. This capability not only enhances the functionality of smart home devices but also supports the development of new applications that can leverage the vast amounts of data generated by these devices. Consequently, the evolution of IoT Cloud Platforms is closely tied to the growth and sophistication of smart home technologies, driving further innovation and adoption in this space.

On a regional level, North America currently holds the largest market share, driven by the early adoption of advanced technologies and the presence of key market players. The Asia Pacific region is anticipated to witness the highest growth rate during the forecast period, attributed to rapid industrialization, urbanization, and increasing investments in smart city projects. Europe also presents significant growth opportunities due to its strong focus on technological innovation and sustainability initiatives.

Component Analysis

The component segment of the IoT connectivity platforms market is broadly categorized into hardware, software, and services. Each of these components plays a crucial role in ensuring the effective functioning of IoT devices and systems. Hardware components include sensors, gateways, and communication modules that enable the physical connection and data transmission between devices. The increasing complexity and diversity of IoT applications are driving the demand for advanced hardware solutions that can support various connectivity standards and protocols.

Software is another critical component in IoT connectivity platforms as it facilitates the management, analysis, and visualization of data collected from IoT devices. IoT software solutions encompass device managem

Medical Device Connectivity Market Outlook

The medical device connectivity market is experiencing significant growth, with the global market size projected to reach approximately USD 4.3 billion in 2023 and expected to expand to USD 10.5 billion by 2032, at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2032. This remarkable growth can be attributed to several key factors, including the increasing demand for efficient healthcare systems, advancements in technology, and the rising prevalence of chronic diseases which necessitate continuous monitoring and management. The integration of medical devices with the IT infrastructure of healthcare systems has become imperative to facilitate real-time data sharing and improve patient outcomes.

Among the pivotal growth factors for the medical device connectivity market is the amplified need for remote patient monitoring systems, which have become increasingly vital due to the aging global population and the rising incidence of chronic conditions such as diabetes, hypertension, and cardiovascular diseases. The ability to monitor patient data in real-time not only enables healthcare professionals to make informed decisions promptly but also enhances disease management by ensuring timely interventions. Furthermore, the COVID-19 pandemic has accelerated the adoption of telehealth and remote monitoring solutions, highlighting the importance of robust device connectivity solutions. This shift is expected to drive long-term market growth as healthcare systems worldwide integrate these technologies to enhance patient care delivery.

Technological advancements play a crucial role in the proliferation of the medical device connectivity market. Innovations such as the Internet of Things (IoT), cloud computing, and artificial intelligence (AI) have transformed the landscape of healthcare delivery. IoT-enabled devices facilitate seamless data exchange between medical devices and healthcare IT systems, allowing for real-time monitoring and analysis. Meanwhile, cloud computing provides scalable storage solutions for the massive volumes of data generated by connected devices, enabling healthcare providers to access and analyze patient information efficiently. AI adds another layer of sophistication by enabling predictive analytics, which can foresee potential health issues before they become critical, thus enhancing preventative care strategies. These technological strides are not only improving patient care but also reducing operational costs for healthcare providers, making them attractive investments.

The regulatory landscape and governmental policies also significantly influence the medical device connectivity market. Governments and regulatory bodies worldwide are recognizing the vital role of connected healthcare in improving patient outcomes and are thus formulating supportive policies and frameworks. In many regions, regulatory agencies are setting standards and guidelines to ensure the interoperability and cybersecurity of connected medical devices. These regulations are designed to protect patient data and ensure the reliability of healthcare systems, fostering trust among healthcare providers and patients. Moreover, government incentives and funding for healthcare IT infrastructure development are promoting the adoption of advanced connectivity solutions, further propelling market growth.

Component Analysis

The component segment of the medical device connectivity market is categorized into hardware, software, and services. Hardware components, which include devices such as hubs, connectors, and adapters, are fundamental to establishing connections between medical devices and healthcare IT systems. Despite being a mature segment, the hardware market continues to grow steadily due to the constant need for upgrades and replacements in healthcare facilities. As healthcare providers increasingly recognize the importance of connected devices in improving patient outcomes, there is a growing demand for advanced hardware components that can support new technologies and ensure compatibility with existing systems.

Software solutions are a critical component of the medical device connectivity market, playing a pivotal role in data integration, management, and analysis. As the demand for efficient data exchange and real-time monitoring increases, the need for sophisticated software that can seamlessly integrate diverse medical devices and ensure interoperability is becoming more crucial. Software solutions facilitate the interpretation and analysis of the vast amounts of data generated by connected devices, enabling healthcare providers to make data-driven decisions. Add

Global Medical Device Connectivity market size is expected to reach $11.7 billion by 2029 at 26.7%, segmented as by hardware, medical device gateways, connectivity modules, sensors and actuators, network infrastructure (routers, switches)