The global market for enterprise Internet of things (IoT) is expected to grow to *** billion U.S. dollars in size by the end of 2030. The technology reached *** billion dollars in market revenue for the first time in 2023, and forecasts suggest that this figure will grow to around *** billion by 2024.

The IoT Market Report is Segmented by Component (Hardware, Software, Services, and More), End-User Industry (Agriculture, Retail and E-Commerce, Energy and Utilities, and More), Application (Asset Tracking and Fleet Management, Predictive Maintenance, Smart Metering, and More), Deployment Model (Cloud, On-Premises, and More), and Geography

The global internet of things (iot) market size was USD 1179.42 billion in 2024 & is projected to grow from USD 1334.99 billion in 2025 to USD 3597.01 billion by 2033.
Report Scope:

The global market for Internet of things (IoT) end-user solutions is expected to grow to *** billion U.S. dollars in size by the end of 2019. The technology reached *** billion dollars in market revenue for the first time in 2017, and forecasts suggest that this figure will grow to around *** trillion by 2025. The Internet of Things The Internet of Things (IoT) is a term used to describe the continually growing network of internet connected electronic devices that are in operation around the world today. These devices often share data and information in order to provide added convenience and control to consumers and, in some cases, even allow users automate simple processes such as ordering supplies. Tens of billions of these IoT connected devices already exist around the world and this number will only grow as internet connectivity begins to become a standard feature for a great number of electronics devices. Although heavily integrated into the consumer electronics market, IoT extends far beyond handheld devices and home appliances; IoT subsystems such as industrial internet and connected cities aim at automating factories and urban areas rather than just households. Digital virtual assistants such as Amazon’s Alexa and Google Assistant serve as the bridge between this network of interconnected devices and their human users.

Snapshot img

Internet Of Things (IoT) Market Size 2024-2028

The internet of things (iot) market size is valued to increase USD 1554.5 billion, at a CAGR of 18.52% from 2023 to 2028. Technological developments in different platforms will drive the internet of things (iot) market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 37% growth during the forecast period.
By Application - Industrial segment was valued at USD 188.70 billion in 2022
By Technology - RFID segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 302.53 billion
Market Future Opportunities: USD 1554.50 billion
CAGR : 18.52%
APAC: Largest market in 2022

Market Summary

The market encompasses a vast and dynamic landscape of core technologies and applications, continually evolving to redefine the way we connect and interact with the world around US. IoT technologies, including wireless communication, cloud computing, and machine learning, are revolutionizing industries and transforming everyday life. According to a recent study, the global IoT market share in the industrial sector is projected to reach 22% by 2025. Core IoT applications span across industries, including healthcare, manufacturing, transportation, and agriculture, with wearables gaining significant traction for monitoring human health and environmental conditions. However, the market faces challenges such as the lack of awareness and efficient management of IoT initiatives and investments.
Technological developments in various platforms, including edge computing and 5G networks, are addressing these challenges and creating new opportunities. For instance, edge computing enables real-time data processing and analysis, while 5G networks offer faster connectivity and lower latency. These advancements are expected to drive the growth of the IoT market, with the adoption rate projected to reach 50 billion connected devices by 2030.

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

Get Key Insights on Market Forecast (PDF) Request Free Sample

How is the Internet Of Things (IoT) Market Segmented and what are the key trends of market segmentation?

The internet of things (iot) industry 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.

Application

  Industrial
  Retail
  Healthcare
  ICT
  Others


Technology

  RFID
  Sensors
  NFC
  Cloud services
  Others


Geography

  North America

    US


  Europe

    France
    Germany
    Norway


  APAC

    China


  Rest of World (ROW)

By Application Insights

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

The market is experiencing significant growth, with an estimated 27.1% of businesses implementing IoT solutions as of 2021. This trend is expected to continue, with 30.9% of companies planning to adopt IoT technology in the near future. IoT technology enables device authentication, software-defined networking, and latency reduction, among other advancements, to streamline business operations and enhance productivity. Sensor networks, firmware updates, wireless communication, and hardware acceleration are integral components of IoT infrastructure. Machine learning algorithms, edge computing, remote device management, data visualization tools, and cybersecurity measures ensure data integrity and security. Real-time monitoring, bandwidth optimization, and device provisioning are essential for efficient IoT implementation.

Low-power wide-area networks and power consumption metrics are crucial for IoT devices, especially in industrial applications. Predictive maintenance, cloud computing platforms, data acquisition, system scalability, data analytics dashboards, and embedded systems are key features that enable businesses to gain valuable insights from IoT data. The IoT market faces challenges such as network security protocols, interoperability standards, and data encryption. However, these issues are being addressed through ongoing research and development efforts. IoT is transforming industries worldwide, from manufacturing and healthcare to transportation and agriculture, offering opportunities for innovation and growth.

Request Free Sample

The Industrial segment was valued at USD 188.70 billion in 2018 and showed a gradual increase during the forecast period.

Request Free Sample

Regional Analysis

APAC is estimated to contribute 37% 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.

See How Internet Of Things (IoT) Mar

Snapshot img

Industrial Internet Of Things (IoT) Market Size 2025-2029

The industrial internet of things (IoT) market size is valued to increase USD 195.8 billion, at a CAGR of 14.8% from 2024 to 2029. Growth in industrial automation will drive the Industrial Internet of Things (IoT) market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 43% growth during the forecast period.
By End-user - Manufacturing segment was valued at USD 28.50 billion in 2023
By Component - Hardware segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 262.15 billion
Market Future Opportunities: USD 195.80 billion
CAGR : 14.8%
APAC: Largest market in 2023

Market Summary

The market encompasses a dynamic and continuously evolving landscape, driven by the integration of core technologies such as artificial intelligence, machine learning, and advanced sensors into industrial processes. IoT applications span various sectors, including manufacturing, transportation, energy, and healthcare, with a growing emphasis on improving operational efficiency and productivity. According to recent studies, the industrial automation segment is expected to dominate the market, accounting for over 40% of the total IoT spending. The evolving global device manager market is another significant factor, with an increasing number of organizations recognizing the need for efficient management of their IoT initiatives and investments.
However, the market faces challenges, such as the lack of awareness and understanding of IoT technologies among businesses and the need for robust security measures to protect against cyber threats. Despite these challenges, opportunities abound, including the potential for predictive maintenance, real-time data analysis, and enhanced supply chain visibility. With the increasing adoption of IoT technologies, the market is poised for significant growth, offering numerous benefits to businesses across industries.

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

Get Key Insights on Market Forecast (PDF) Request Free Sample

How is the Industrial Internet Of Things (IoT) Market Segmented and what are the key trends of market segmentation?

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

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    Australia
    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By End-user Insights

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

In the dynamic and evolving market, data visualization dashboards play a pivotal role in making informed business decisions. IoT sensors are integrated into various industries, including machinery, food and beverage, chemicals and materials, and electrical and electronics, to monitor equipment performance and optimize processes. High-performance computing and distributed ledger technology facilitate real-time data processing and secure transactions. Operational efficiency improvements are achieved through the implementation of manufacturing execution systems, software-defined networking, and data acquisition systems. Time series databases and edge computing devices enable sensor data fusion, while cloud computing platforms offer scalability and flexibility. Anomaly detection methods and network security protocols ensure data security and privacy.

Remote monitoring systems and digital twin technology provide insights into industrial processes, enabling predictive maintenance models and process optimization techniques. Industrial control systems and energy management systems are enhanced through IoT integration, leading to significant energy savings. Low-power wide-area networks facilitate seamless connectivity, while machine learning algorithms and real-time data processing optimize performance and reduce downtime. Despite the numerous benefits, cybersecurity threats pose a challenge to IoT adoption. Data stream mining and big data analytics help businesses gain valuable insights from the vast amounts of data generated by IoT devices. System integration services ensure seamless implementation of IoT solutions, while smart factory impl

Internet Of Things (IoT) Market size was valued at USD 8,01,850.00 Million in 2024 and is expected to reach USD 30,71,152.93 Million by 2032, growing at a CAGR of 18.47% from 2026 to 2032.Global Internet Of Things (IoT) Market Executive SummaryThe Internet of Things (IoT) refers to a vast network of interconnected physical devices embedded with sensors, software, and other technologies that enable them to collect, transmit, and exchange data over the internet or other communication networks. These smart devices can include anything from industrial equipment and home appliances to wearables, vehicles, and infrastructure systems. The core objective of IoT is to enable real-time monitoring, control, and automation across a wide array of applications and industries.

[170+ Pages Report] The global Internet of Things (IoT) market witnessed a size of USD 310 billion in 2020 and with growth at a CAGR of 24.5% is projected to achieve a value of USD 1,842 billion by 2028.

According to Cognitive Market Research, the global Internet of Things (IoT) Operating Systems market was USD 8479.38 million in 2024 and expand at a compound annual growth rate (CAGR) of 40.4% from 2024 to 2031. Market Dynamics of Internet of Things (IoT) Operating Systems Market

Key Drivers for Internet of Things (IoT) Operating Systems Market

Expansion of information technology across all industry verticals- The Internet of Things (IoT) operating systems market is experiencing rapid growth due to the expansion of information technology across all industry verticals. As industries such as healthcare, manufacturing, automotive, and smart cities increasingly integrate IoT solutions, the demand for robust, secure, and efficient operating systems to manage these interconnected devices rises. IoT operating systems enable real-time data processing, seamless connectivity, and enhanced security, which are critical for the effective functioning of IoT ecosystems. This expansion is fueled by advancements in cloud computing, artificial intelligence, and 5G technology, which further drive the adoption of IoT. The need for improved operational efficiency, cost reduction, and innovative business models is pushing organizations to invest in IoT operating systems.
Wide adoption of cloud-based services to drive the Internet of Things (IoT) Operating Systems market's expansion in the years ahead.

Key Restraints for Internet of Things (IoT) Operating Systems Market

The scalability of IoT systems and applications poses a serious threat to the Internet of Things (IoT) Operating Systems industry.
The market also faces significant difficulties related to Licensing and infringements.
There is no uniformity or agreement on the rules that allow different devices to connect and work together

One of the major challenges in Internet of Things (IoT) testing is the inconsistency of standards for interconnectivity and interoperability. IoT devices tend to depend on communication across multiple protocols, networks, and platforms. Yet, there is no standard approach to how these devices should communicate with each other, resulting in market fragmentation. Various manufacturers, geographies, and industries use different protocols (e.g., Zigbee, Bluetooth, Wi-Fi, LoRaWAN) and communication standards, that prevent easy communication among different vendors' devices. This variability makes testing challenging because it involves making devices interoperate with a number of different devices, even if they have differing communication protocols, data formats, and network configurations.

Additionally, the fact that there are no standardized testing models or approaches only aggravates the issue. Without shared standards, testers have to create tailor-made test cases for every device, something which can be time-consuming, expensive, and prone to errors. This inconsistency is also problematic in terms of scalability because devices that are able to successfully communicate with each other in a small-scale environment might fail if connected to a larger or more heterogeneous ecosystem. Furthermore, emerging technology and frequent updates to hardware and software elements add to the complexity. Equipment can be in a state of constant revalidation as vendors release new versions or patches, which adds to the complexity of interoperability testing. Therefore, inconsistency in standards makes it a big hurdle in making IoT ecosystems reliable, secure, and scalable.

Opportunities for the Internet of Things (IoT) Testing

Testing by creating virtual versions of services or systems instead of using real ones.

Service virtualization offers a great benefit for IoT testing through the ability to simulate different components within an IoT environment, including devices, sensors, servers, and cloud services. Because IoT environments typically involve many interdependent devices and services, it may be unrealistic to test each and every element in real time, particularly when some components are not available, not complete, or expensive to access during testing. Service virtualization overcomes this difficulty by designing virtual representations of such components so that testers can mimic interactions and behaviors that otherwise need to be tested with actual devices or services. One of the major advantages of service virtualization in IoT testing is that it speeds up the test process. By virtue of ...

The global IoT market size attained a value of about USD 2.18 Trillion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 15.90% to reach nearly USD 9.53 Trillion by 2034.

Analyze the Internet of Things (IoT) global market size with data from 2017, 2018 and projections of compound annual growth rates (CAGRs) through 2023.

This statistic gives a breakdown of the global Internet of Things enabled sensors market in 2022, by segment. In 2022, motion sensors are expected to account for **** percent of the global IoT enabled sensors market. Total revenue generated by the enabled sensors market is estimated to reach ** billion U.S. dollars in 2022.

The Internet of Things enabled sensors market

Advances in the field of sensor technology continue to trigger the evolution of innovative consumer and industrial products. Without sensors, most things that are connected to the Internet of Things (IoT) today would lose much of their functionality. A thing can range from heart monitoring implants, DNA analysis devices for food monitoring or built-in sensors in automobiles. The IoT technology of sending the data to the cloud for analysis, where it is distilled and interpreted before delivering the high-value information back to the device, has allowed society to make more efficient and accurate decisions not only in people’s daily lives but also in a business environment. It is expected that the global IoT market will almost grow three-fold between 2014 and 2019 and exceed one trillion U.S. dollars in 2017. By 2019, the market is forecast to have an estimated size of more than *** trillion U.S. dollars. With a vast array of applications, the Internet of Things has seen a consistently growing number of connected devices worldwide. By 2022, it is predicted that ** billion devices will be connected to the IoT around the globe. This technology is slated to have numerous applications, predominantly in the fields of consumer electronics, industrial manufacturing, automotive and life sciences. By 2022, temperature sensors are expected to account for **** percent of the global IoT enabled sensors market.

Global Internet of Things (IoT) market is valued at USD 1.1 trillion, driven by smart devices, 5G adoption, and automation in healthcare, manufacturing, and transportation sectors.

Supply Chain IoT Market size was valued at USD 21.36 Billion in 2024 and is projected to reach USD 55.58 Billion by 2031, growing at a CAGR of 12.70% during the forecast period 2024-2031.

Global Supply Chain IoT Market Drivers

The market drivers for the Supply Chain IoT Market can be influenced by various factors. These may include:

Enhanced Productivity and Cost Savings: Internet of Things (IoT) technologies provide real-time tracking, monitoring, and optimisation of supply chain activities, resulting in enhanced productivity and cost savings in transportation, logistics, and inventory management.

Demand for Transparency and Traceability: As customer demand for sustainability and transparency grows, IoT enables businesses to offer end-to-end supply chain visibility, guaranteeing product traceability from point of origin to final destination. This is especially important for the food, pharmaceutical, and electronics industries.

Growing Usage of Sensors and RFID: Because of lowering costs, advancing technology, and regulatory requirements, supply chain management is adopting RFID (Radio-Frequency Identification) tags, sensors, and other Internet of Things (IoT) devices at a rapid rate.

Emergence of Industry 4.0 and Smart Manufacturing: Industry 4.0 initiatives are encouraging the use of IoT solutions to establish intelligent, interconnected supply chains. These initiatives centre on the integration of digital technology into manufacturing and supply chain activities.

Growing Adoption of Edge and Cloud Computing: As these technologies proliferate, it becomes easier to store, analyse, and analyse vast amounts of IoT data produced by supply chain devices, allowing for real-time insights and action.

Globalisation and Complex Supply Chains: To manage the flow of goods, information, and funds across numerous regions, suppliers, and partners, there is an increasing need for IoT solutions. This is because supply chains are becoming more and more globalised and complex.

Risk management and compliance with regulations: IoT solutions for compliance monitoring and risk mitigation inside supply chains are becoming more and more popular as a result of regulatory requirements pertaining to product safety, quality, and security.

COVID-19 Pandemic and the Sturdiness of the Supply Chain: The COVID-19 pandemic's interruptions have brought attention to how crucial supply chain agility and resilience are. IoT technologies are thought to be essential for creating supply networks that are more resilient, able to adjust to shifting circumstances and lessen potential disruptions.

Internet of Things (IoT) Market size reached USD 365.2 billion in 2022 and is estimated to reach USD 1,213.9 billion in 2030 and the market is estimated to grow at a very high CAGR of 16.2% from 2023-2030.

The Global Internet of Things Market Size is estimated to reach over USD 2,295.57 Bn by 2032 from a value of USD 663.38 Bn in 2024 and is projected to grow by USD 763.19 Bn in 2025, growing at a CAGR of 19.1% from 2025 to 2032.

The global Industrial Internet of things (IIoT) market size reached USD 289.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 847.0 Billion by 2033, exhibiting a growth rate (CAGR) of 12.7% during 2025-2033. The market is driven by the growing number of smart cities, as they leverage IIoT to enhance efficiency, sustainability, and quality of life through interconnected systems and real-time data analytics, rising use of edge computing, and increasing reliance on 5G technology.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global and regional levels for 2025-2033. Our industrial IoT market report has categorized the market based on component and end user.

Discover BCC Research's report on Industrial IoT Market report provides an overview of the industry and analyzes market trends Using 2022 as the base year.

The Industrial Internet of Things Market Report is Segmented by Component (Hardware, Software, and Services and Connectivity), Deployment Model (On-Premises, Cloud, and Hybrid/Edge-Cloud), Connectivity Technology (Wired, Short-Range Wireless, Cellular, and LPWAN), End-User Vertical (Discrete Manufacturing, Process Manufacturing, Oil and Gas, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Snapshot img

5G Internet Of Things (IoT) Market Size 2024-2028

The 5g internet of things (iot) market size is valued to increase USD 253.28 billion, at a CAGR of 140.31% from 2023 to 2028. Rising adoption of 5G will drive the 5g internet of things (iot) market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 89% growth during the forecast period.
By Type - 5G non-standalone (SA) segment was valued at USD 2.01 billion in 2021
By Component - Hardware segment accounted for the largest market revenue share in 2021

Market Size & Forecast

Market Opportunities: USD 12.00 million
Market Future Opportunities: USD 253279.30 million
CAGR : 140.31%

Market Summary

The market is experiencing significant growth and transformation, driven by the increasing adoption of 5G technology in various industries. According to recent studies, the global 5G IoT market is projected to reach a staggering 55% of the total IoT market share by 2025. This surge is primarily due to the low latency, high bandwidth, and increased connectivity offered by 5G, enabling advanced applications in sectors like industrial automation, healthcare, and transportation. However, the high cost of 5G installation remains a major challenge for market expansion.
Regulations and standards are also evolving to accommodate the unique requirements of 5G IoT, with organizations like the International Telecommunication Union (ITU) leading the way. As the market continues to unfold, opportunities in areas like edge computing, artificial intelligence, and the Internet of Everything (IoE) are emerging, offering significant potential for innovation and growth.

What will be the Size of the 5G Internet Of Things (IoT) Market during the forecast period?

Get Key Insights on Market Forecast (PDF) Request Free Sample

How is the 5G Internet Of Things (IoT) Market Segmented and what are the key trends of market segmentation?

The 5g internet of things (iot) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2021-2022 for the following segments.

Type

  5G non-standalone (SA)
  5G standalone (SA)


Component

  Hardware
  Services
  Platform
  Connectivity


Geography

  North America

    US


  Europe

    Spain
    UK


  APAC

    China
    South Korea


  Rest of World (ROW)

By Type Insights

The 5g non-standalone (sa) segment is estimated to witness significant growth during the forecast period.

The market is experiencing significant growth as industries increasingly adopt advanced technologies to enhance their operations. According to recent reports, the market for 5G IoT devices is projected to expand by 30% in the next year, fueled by the rollout of autonomous vehicles and the automation of power generation and distribution in the energy and utilities sector. This expansion is driven by the demand for high-speed data transmission and real-time analytics, which are essential for optimizing processes and improving efficiency. Software-defined networking and cloud infrastructure scaling are critical components of 5G IoT systems, enabling seamless communication between devices and reducing latency.

Millimeter wave spectrum and network function virtualization are also key technologies, enabling massive MIMO antennas and network slicing for increased network capacity and power consumption efficiency. Security is a top priority in the 5G IoT market, with breach detection and data encryption methods being crucial for protecting sensitive information. Packet loss rates and signal interference reduction are also important considerations, as they can impact the reliability and performance of IoT networks. Application enablement platforms and remote firmware updates are essential for managing and maintaining IoT devices, while edge computing deployment and real-time analytics enable faster decision-making and predictive maintenance.

However, network security threats remain a significant challenge, requiring ongoing efforts to ensure the security and privacy of IoT data. 5G NR deployments are ongoing, with remote device monitoring and bandwidth optimization becoming increasingly important for maximizing network performance. The market is expected to grow further, with industry experts projecting a 45% increase in 5G IoT device shipments over the next five years. These trends underscore the continuous evolution of the 5G IoT market and its applications across various sectors.

Request Free Sample

The 5G non-standalone (SA) segment was valued at USD 2.01 billion in 2021 and showed a gradual increase during the forecast period.

Request Free Sample

Regional Analysis

APAC is estimated to contribute 89% to the growth of the global market during the forecast period.Technavio's analysts have