The Report Covers Internet of Things Market Opportunities and Growth. The Market is Segmented by Component (Hardware, Software/Platform, Connectivity, and Services), End User Industry (Manufacturing, Transportation, Healthcare, Retail, Energy and Utilities, Residential, Government, and Insurance), and Geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The number of Internet of Things (IoT) devices worldwide is forecast to almost double from 15.9 billion in 2023 to more than 32.1 billion IoT devices in 2030. In 2033, the highest number of IoT devices will be found in China, with around 8 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 2023. 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.

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Internet Of Things Sensors Market Size 2024-2028

The internet of things sensors market size is forecast to increase by USD 63.09 billion at a CAGR of 41.29% between 2023 and 2028.

The market is experiencing significant growth due to several key trends. The increasing demand for smart factories and Industrial IoT (IIoT) is driving the market, as sensors play a crucial role in enabling real-time monitoring and automation of industrial processes. 
Additionally, the need for remote monitoring of various applications, such as healthcare services and agriculture, is leading to a surge in demand for IoT sensors. Furthermore, regulatory compliance is becoming increasingly important, and sensors are essential for ensuring adherence to various standards and regulations. These factors are expected to continue fueling the growth of the IoT sensors market in the coming years.

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

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The market is experiencing robust growth, driven by the increasing adoption of IoT technologies in various industries. IoT sensors play a crucial role in building security systems, connected healthcare, supply chain optimization, and smart home automation, among others. These sensors enable real-time data analysis, response time improvement, and AI-powered decision making in areas such as temperature and lighting control, edge computing, and error identification.
Market trends include the integration of IoT sensors in industrial automation, workflow optimization, and smart grid technology. In the realm of consumer devices, wearable technology trends, inertial sensors, and proximity-based systems are gaining traction. IoT sensors are also revolutionizing sectors like healthcare with applications in health monitoring, including electrocardiograms and occupancy sensors.
Additionally, IoT sensors are essential for digital transformation strategies in industries like transportation, enabling sustainable transportation solutions and autonomous vehicle development. In the realm of smart cities, IoT sensors are instrumental in optimizing energy management, air quality monitoring, and smart city infrastructure. Furthermore, IoT sensors are transforming industries like agriculture with precision farming and process optimization. In the realm of security, IoT sensors are being used for advanced robotics and occupancy detection, providing enhanced security measures. Overall, the IoT sensors market is a dynamic and evolving landscape, offering numerous opportunities for businesses seeking to leverage real-time data and improve operational efficiency.

How is this Internet Of Things Sensors Industry segmented and which is the largest segment?

The IoT sensors 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.

End-user

  Consumer electronics
  Automotive
  Food and beverages
  Healthcare
  Others


Type

  Temperature sensor
  Pressure sensor
  Humidity sensor
  Flow sensor
  Others


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By End-user Insights

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

IoT sensors play a pivotal role in the consumer electronics industry, fueling the growth of markets such as wearable technology and smart homes. The integration of IoT sensors in devices enables enhanced functionality and responsiveness. Notable consumer electronics incorporating these sensors include smartphones, smartwatches, and fitness trackers, which monitor environmental changes, track user movement, and measure vital signs. The advent of IoT sensors has facilitated the development of smart homes, where devices can be remotely controlled via mobile applications. Additionally, IoT sensors are employed in industries like manufacturing, healthcare, transportation, and energy to optimize processes, improve response times, and enable remote monitoring.

Innovations such as connected cars, autonomous driving technologies, smart cities, aerospace, and industrial automation further expand the application scope of IoT sensors. These sensors contribute to energy efficiency, asset tracking, temperature and humidity control, and building automation, among other applications. IoT sensors enable data-driven strategies and facilitate the integration of machine learning and artificial intelligence, enhancing overall system performance.

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The Consumer electronics segment was valued at USD 1.18 billion in 2018 and showed a grad

The IoT security market size is projected to grow from USD 20.08 billion in the current year to USD 277.47 billion by 2035, representing a CAGR of 26.96%, during the forecast period till 2035.

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Internet Of Things (IoT) Market Size 2024-2028

The internet of things (iot) market size is forecast to increase by USD 1554.5 billion at a CAGR of 18.52% between 2023 and 2028.

The market is experiencing significant growth and transformation, driven by technological advancements in various platforms and applications. One of the most prominent areas of development is in wearable devices, which are revolutionizing the way we monitor human health and environmental conditions. This trend is expected to continue as the technology becomes more sophisticated and affordable, creating new opportunities for businesses and individuals alike. However, the IoT market also faces challenges that must be addressed for continued growth. One of the most pressing issues is the lack of awareness and efficient management of IoT initiatives and investments. As the number of connected devices continues to increase, it becomes increasingly important for organizations to have a clear strategy for implementing and managing their IoT projects. Failure to do so can result in wasted resources and missed opportunities. Companies seeking to capitalize on the IoT market must focus on developing strategies for managing their initiatives and investments, while also staying abreast of the latest technological developments and trends. By doing so, they will be well-positioned to navigate the challenges and seize the opportunities presented by this dynamic and rapidly evolving market.

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

Request Free SampleThe market is experiencing growth, driven by the increasing integration of interconnected devices into various industries and applications. According to recent reports, the global IoT market is projected to reach a value of over USD1 trillion by 2026, with significant growth in sectors such as manufacturing, healthcare, and transportation. This expansion is fueled by the widespread adoption of IoT technology in areas like smart factories, logistics chain optimization, and intelligent disease monitoring. IoT is revolutionizing industries by enabling real-time data processing, cloud adoption, and improved service delivery. IoT devices, including those utilizing Bluetooth technology, are transforming industries by enhancing operational efficiency, reducing costs, and improving customer experiences. The market's direction is clear: IoT is poised to continue reshaping the business landscape and driving innovation across multiple sectors.

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

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. ApplicationIndustrialRetailHealthcareICTOthersTechnologyRFIDSensorsNFCCloud servicesOthersGeographyAPACChinaNorth AmericaUSEuropeFranceGermanyNorwayMiddle East and AfricaSouth America

By Application Insights

The industrial segment is estimated to witness significant growth during the forecast period.The Industrial sector is experiencing significant growth in the adoption of IoT technology, which is transforming business operations by enhancing productivity and providing a competitive edge. IoT technology enables machinery and devices to connect to the Internet via software, generating valuable data for predictive maintenance and performance optimization. However, this segment encounters challenges, including the need for increased investments, business model redesign, security concerns, standardization, and interoperability issues. Favorable government policies and collaborations among IoT stakeholders can help mitigate these challenges and advance industry expertise. IoT technology is revolutionizing various sectors, including logistics chain, smart factory automation, and the energy sector. Service providers, such as SAS Software, VMware Tanzu, and Bluetooth technology companies, are capitalizing on this trend by offering IoT solutions. The revenue forecast for the IoT market is promising, driven by cloud adoption, data processing, and the implementation of smart city initiatives. 5G technology, physical events, and operational efficiency are other areas where IoT technology is making a significant impact. Telecom infrastructure and networking infrastructure providers, such as 4G technology and Internet connectivity companies, are essential partners in this digital transformation. Consumer behavior is also evolving, with real-time marketing analysis and autonomous systems becoming increasingly important. IoT technology offers numerous revenue-generating opportunities for hardware companies, network companies, and software companies. Canadian companies, in particular, are investing in smart citizen services, public safety, and emergency medi

The Report Covers Global Consumer IoT Market Growth & Forecast and it is segmented by Type (Hardware, Solutions, Services), Application (Home Automation, Consumer Wearables, Consumer electronics, Healthcare, Automotive), and Geography. The market size and forecasts are provided in terms of value (USD) for all the above segments.

Explore the IoT Market trends! Covers key players, growth rate 24.7% CAGR, market size $1520.12 Billion, and forecasts to 2034. Get insights now!

The global market for enterprise Internet of things (IoT) is expected to grow to 690 billion U.S. dollars in size by the end of 2030. The technology reached 269 billion dollars in market revenue for the first time in 2023, and forecasts suggest that this figure will grow to around 301 billion by 2024.

The global Internet of Things (IoT) market size was valued at USD 1.39 billion in 2025 and is projected to grow at a CAGR of 11.4% from 2025 to 2033. The growth of the IoT market can be attributed to the increasing adoption of IoT-enabled devices and technologies across various industries, such as consumer electronics, healthcare, automotive, and manufacturing. Key drivers of the IoT market include the growing demand for connected devices, the proliferation of cloud computing, and the increasing adoption of artificial intelligence (AI) and machine learning (ML). These factors are driving the development of new IoT applications and services, which is in turn fueling the growth of the IoT market. Additionally, the increasing government support for IoT initiatives is also contributing to the growth of the market. The major market players include Amazon.com, Inc, Microsoft, Qualcomm Technologies, Inc, Intel Corporation, and PTC. North America is the largest market for IoT, followed by Europe and Asia-Pacific. The Internet of Things (IoT) market is experiencing rapid growth due to the proliferation of connected devices and the increasing adoption of IoT technologies across various industries. This market is characterized by a high level of innovation and intense competition among leading players. Recent developments include: In June 2024, Cisco Systems, Inc. launched an Intelligent Industrial IoT Network as a foundation for Artificial Intelligence (AI) and Machine Learning (ML) applications. This network enhances various aspects of industrial operations, such as uptime, yield, security, and revenue generation. , In January 2023, PTC completed the acquisition of ServiceMax, a provider of service management solutions. The acquisition enhances PTC’s IoT offerings by combining field service management with advanced IoT analytics and AR for improved service operations and customer support. .

According to Cognitive Market Research, the global AI in IoT market will be USD 5.5 billion in 2024 and expand at a compound annual growth rate (CAGR) of 23.5% from 2024 to 2031. Market Dynamics of AI in IoT Market

Key Drivers for AI in IoT Market

Increasing Big Data Volume - The expansion of big data, as well as the rapidly increasing volume and complexity of data, is being driven by increased mobile traffic, cloud computing traffic, and the development and use of technologies such as IoT and AI. Big data analytics is an effective means of distributing data and generating insightful and practical knowledge from huge amounts of information. Organizations can benefit from significant predictive analytics in a variety of areas, including operations, marketing, risk assessment, and raid detection. For example, in a 2020 research, about 90% of business professionals and enterprise analytics stated that data and analytics are crucial to their organization's digital transformation efforts. Data and analytics are rapidly becoming critical components for businesses. Need for Effective Data Management

Key Restraints for AI in IoT Market

Growing Importance of Cybersecurity Concerns High Costs Introduction of AI in IoT Market

Artificial intelligence (AI) in the Internet of Things (IoT) refers to the application of AI technology to analyze enormous volumes of data generated by IoT devices, such as machine learning and deep learning. It comprises using AI algorithms to IoT data in order to extract valuable information, discover trends, and make predictions or judgments. Furthermore, automation is another facet of AI in IoT, in which AI-powered solutions streamline procedures, optimize business processes, and enable autonomous decisions across the IoT landscape. Furthermore, the combination of artificial intelligence with IoT has the potential to generate numerous benefits for both enterprises and consumers. AI in IoT solutions has the potential to increase corporate efficiency and productivity while also reducing expenses. Additionally, it can give increased convenience and a better user experience for consumers; such AI in IoT market trends are expected to create multiple potential opportunities during the forecast period. Furthermore, combining AI with IoT can improve data management and analytics while also providing businesses with a better understanding of their products. Such increased variables are projected to create attractive prospects for artificial intelligence in IoT market growth throughout the predicted years. Factors such as increased digitalization, a greater demand for intelligent business systems, and increased use of innovative technologies all had a beneficial impact on market growth.

The Global Industrial Internet of Things (IIOT) Market is estimated to grow at a CAGR of around 23.5% during the forecast period 2023-28. Honeywell, Intel, IBM, ABB, Telefonica are top industry players.

The Internet of Things (IoT) market is poised for exponential growth, driven by the increasing adoption of smart devices, sensors, and connectivity technologies. With a market size of 158.1629 million USD in 2023, the industry is projected to expand at a CAGR of 22.16% over the forecast period of 2025-2033. This surge is primarily fueled by the growing need for data-driven insights, automation, and enhanced connectivity across various industries. Key market drivers include the proliferation of cloud computing, advancements in artificial intelligence (AI), and the growing demand for IoT solutions in sectors such as manufacturing, healthcare, transportation, and utilities. Additionally, government initiatives and investments in smart city infrastructure are expected to contribute to the market's expansion. However, security concerns, data privacy issues, and high implementation costs pose potential restraints to growth. The market is segmented by component (hardware, software, and services), connectivity platform, organizational size, and end-use industry, with key players such as NETOBJEX INC, SAMSARA, Amazon Web Services (AWS), and AT&T Inc. dominating the competitive landscape. Recent developments include: In November 2023, Siemens and AWS simplify IT/OT convergence with an integrated edge-to-cloud experience. In November 2023, Amazon Web Services Inc. (AWS) will be available on the Siemens Industrial Edge Marketplace. Users can deploy it on Siemens Industrial Edge for centralized app and device management and combine it with other apps and edge devices, from both Siemens and other vendors, to configure specific IoT solutions. . Potential restraints include: LACK OF ADVANCEMENTS COMMUNICATION TECHNOLOGY 44, SECURITY CONCERNS DUE TO THE COLLECTION AND TRANSMISSION OF SENSITIVE INFORMATION 45; POOR OPERATIONAL EFFICIENCY IN CERTAIN AREAS 45.

The U.S. Internet of Things (IoT) Market size was valued at USD 98.09 USD billion in 2023 and is projected to reach USD 459.93 USD billion by 2032, exhibiting a CAGR of 24.7 % during the forecast period. The U.S. market for the Internet of Things (IoT) has become more diverse because it has a strong effect on an extended area of industries. It can be important to connect different devices and sensors to the internet to carry over and share the data, it makes automation, efficiency, and faster making decisions possible. The United States is among the countries that see Internet of Things technologies in smart homes, healthcare, agriculture, manufacturing, and decision-making, among other applications. The main possible applications are remote surveillance, time-wave standing of the equipment, and asset tracking. To illustrate, the merger of IoT and AI and ML for more thorough data analytics, the setting up of 5G networks to support massive IoT connectivity, and the enhanced data protection related to cyber security are vital trends in the US IoT market. Key drivers for this market are: Increased Number of Relevant Partnerships and Collaborations to Achieve Advancements in Artificial Intelligence Technology. Potential restraints include: Lack of Data Security Associated with Connected Devices to Hinder the Market Growth. Notable trends are: Growing Implementation of Touch-based and Voice-based Infotainment Systems to Increase Adoption of Intelligent Cars.

The revenue is forecast to experience significant growth in all segments in 2029. The trend observed from 2019 to 2029 remains consistent throughout the entire forecast period. There is a continuous increase in the indicator across all segments. Notably, the Industrial IoT segment achieves the highest value of 161.02 billion U.S. dollars at 2029. Find further statistics on other topics such as a comparison of the revenue in Canada and a comparison of the revenue in Japan. The Statista Market Insights cover a broad range of additional markets.

[404 pages Report] The global Internet of Things (IoT) Security Product market is estimated to grow from USD 12 Billion in 2017 to USD 48 Billion by 2027, expanding at a CAGR of 14.9% from 2017 to 2027.

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.

According to Cognitive Market Research, the global 5G IoT Market size will be USD 67.9 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 37.8% from 2024 to 2031. Market Dynamics of 5G IoT Market

Key Drivers for 5G IoT Market

Technological Advancements Propel Growth of 5G IoT Market—One key driver in the 5G IoT Market is technological advancements. Advancements in 5G and IoT technologies, including improved network infrastructure, enhanced device capabilities, and optimized protocols, catalyze the growth of the market. These developments enable faster data transmission, reduced latency, and improved reliability, paving the way for innovative applications and services across diverse industries. Increasing Demand for Enhanced Connectivity Drives 5G IoT Adoption

Key Restraints for 5G IoT Market

Security Concerns and Privacy Risks in 5G IoT Deployments Challenges in Standardization and Interoperability for 5G IoT Solutions Introduction of the 5G IoT Market

The 5G IoT market represents the convergence of fifth-generation (5G) wireless technology and the Internet of Things (IoT), ushering in an era of unprecedented connectivity and innovation. 5G IoT leverages ultra-fast, low-latency networks to enable seamless communication and data exchange between interconnected devices, revolutionizing industries such as healthcare, manufacturing, transportation, and smart cities. This synergy between 5G and IoT promises transformative possibilities, empowering businesses to unlock new efficiencies and deliver enhanced services while improving the quality of life for consumers worldwide.

The size of the US Internet of Things Market was valued at USD 19942.01 million in 2023 and is projected to reach USD 53695.30 million by 2032, with an expected CAGR of 15.20% during the forecast period. The Internet of Things (IoT) refers to the interconnected network of physical devices, vehicles, appliances, and other objects embedded with sensors, software, and technologies that enable them to collect, exchange, and act on data over the internet or other communication networks. This ecosystem allows everyday objects, from smart thermostats and refrigerators to industrial machines and healthcare devices, to communicate with each other and users in real-time. The key aspect of IoT is its ability to connect and automate processes, improving efficiency, convenience, and decision-making through data analysis and remote management. This growth is driven by the increasing adoption of IoT devices across various industries, including manufacturing, transportation, energy, healthcare, and retail. The benefits of IoT devices, such as improved efficiency, cost savings, and enhanced customer experience, are driving their adoption. Government initiatives promoting the development and deployment of IoT solutions are also contributing to market growth. Rising concerns about food security and technological advancements are further fueling the adoption of IoT devices in agriculture and other industries. Recent developments include: In October 2021, Siemens Smart Infrastructure acquired Wattsense, a French hardware and software business that provides innovative, plug-and-play IoT management systems for small and medium-sized buildings. This would broaden Siemens' construction product line., In June 2021, Microsoft acquired ReFirm Labs to improve firmware analysis and security capabilities throughout the intelligent edge, from servers to IoT., In December 2021, Oracle announced the acquisition of Cerner, a prominent provider of digital information systems used in hospitals and health systems, enabling medical professionals to provide better care to individual patients and communities..

Global Internet of Things (IoT) in Smart Cities Market size was valued at USD 148.60 billion in 2022 poised to grow from USD 179.06 billion in 2023 to USD 795.98 billion by 2031, growing at a CAGR of 20.5% in the forecast period (2024-2031).

The global Bathroom Internet of Things (IoT) market size was valued at USD 1,928.3 million in 2025 and is projected to reach USD 3,278.7 million by 2033, exhibiting a CAGR of 6.2% during the forecast period (2025-2033). Rising demand for smart homes, growing adoption of IoT devices, and increasing awareness of water conservation are the key factors driving the market growth. The integration of IoT technology in bathrooms offers numerous benefits, including enhanced comfort, improved hygiene, and efficient resource management. The market is segmented into type and application. The local one-key control segment held the largest share in the type segment in 2025, and it is projected to maintain its dominance during the forecast period. The scenario linkage control segment is expected to witness the highest growth rate during the forecast period due to the increasing adoption of smart home ecosystems and the growing popularity of voice-activated control devices. The residential segment accounted for a larger market share in the application segment in 2025, and it is projected to dominate the market during the forecast period. However, the commercial segment is expected to witness a higher growth rate owing to the increasing demand for smart buildings and the growing adoption of IoT technology in hotels, restaurants, and other commercial establishments.