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.

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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 global market for industrial Internet of Things (IIoT) was sized at over 544 billion U.S. dollars in 2022. The market is expected to grow in size in the coming years, reaching some 3.3 trillion U.S. dollars by 2030.

The Report Covers Global Industrial IoT Market Size & Trends and It is Segmented by Type (Hardware, Software, Services, and Connectivity), End-User Vertical (Manufacturing, Transportation, Oil, and Gas), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD Million) for all the Above Segments.

[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.

The global market for Internet of things (IoT) end-user solutions is expected to grow to 212 billion U.S. dollars in size by the end of 2019. The technology reached 100 billion dollars in market revenue for the first time in 2017, and forecasts suggest that this figure will grow to around 1.6 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.

The Report Covers Global IoT Managed Services Providers & Market Share and it is Segmented by Application (network management, device management, data management, security management, and other applications), End-user (energy and utilities, manufacturing, retail, healthcare, BFSI, IT & Telecom, and other end-users), and Geography (North America (United States, Canada, and rest of North America), Europe (Germany, UK, France, Spain, and rest of Europe), Asia-Pacific (India, China, Japan, and rest of Asia-Pacific), and Latin America (Brazil, Argentina, and rest of Latin America), and Middle East & Africa (UAE, Saudi Arabia, South Africa, and rest of MEA). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

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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

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 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. .

The report covers Global Internet of Things (IoT) Insurance Market Size and it is segmented by End-user Industry (Retail and Commercial, Residential (Smart homes), Automotive, Industrial, Healthcare), and by Geography (North America, Europe, Asia-Pacific, Latin America, Middle, East & Africa). The market size and forecasts are provided in terms of value (USD million) for all the above segments.

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.

The revenue in the internet of things market in the United States was forecast to continuously increase between 2024 and 2029 by in total 202.5 billion U.S. dollars (+59.12 percent). After the tenth consecutive increasing year, the indicator is estimated to reach 545.08 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 Europe. The Statista Market Insights cover a broad range of additional markets.

The fast growth of smart devices and sensors, together with the introduction of new communication technologies like 5G, are fueling the Internet of Things (IoT) product and service market. According to the analyst from Verified Market Research, the Internet Of Things (IoT) device and service market size is growing at a moderate pace with substantial growth rates over the last few years, and is estimated that the market will grow significantly in the forecasted period. i.e. 2024 to 2031.

The growing adoption of Internet of Things (IoT) technology also drives the growth of the smart appliance market.

The Internet of Things (IoT) device and service refers to a network of interconnected physical devices, sensors, and software applications that communicate and exchange data via the Internet, allowing for seamless connectivity and automation. These devices might vary from common household appliances and wearable gadgets to industrial gear and infrastructural components. IoT services enhance these devices by providing platforms, analytics, and management tools for data collecting, processing, and control.

Furthermore, IoT devices and services have a wide range of applications, encompassing industries such as healthcare, agriculture, manufacturing, transportation, and smart cities. For example, in healthcare, IoT devices such as wearable fitness trackers and remote patient monitoring systems allow for real-time health tracking and individualized treatment delivery. In manufacturing, IoT-enabled sensors and actuators improve operational efficiency by allowing for predictive maintenance, remote monitoring, and process optimization.

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.

The Internet of Things (IoT) user expenditure in Japan was estimated at a value of about 6.8 trillion Japanese yen in 2022. It was expected to grow with a compound annual growth rate (CAGR) of 8.6 percent until 2027, resulting in a value of almost 9.2 trillion yen by that year.

Market situation in Japan

Japan’s IoT market is experiencing significant growth across various sectors, with notable expansion in the automotive industry and logistics. The demand for IoT solutions is increasing as industries seek to enhance operational efficiency and address labor shortages. Key use cases driving this growth include agricultural field monitoring, smart warehouse management, and in-hospital clinical care. The number of wireless IoT devices is projected to reach almost 36 million by the 2026 fiscal year.

AI and IoT synergy

The IoT describes a network of devices that can process data and communicate with each other via the internet or other types of networks. The market for connected home devices, including smart appliances, security systems, and energy management solutions, is expanding rapidly. Moreover, the convergence of IoT with artificial intelligence, known as AIoT, is driving innovation in smart homes and beyond. AIoT enables devices to not only connect and communicate but also to learn and adapt, offering enhanced convenience, efficiency, and personalization for consumers. However, a survey conducted in Japan reveals that many companies lack personnel to lead AI implementation, while others are skeptical about the potential merits or results relative to the costs.

Global Internet of Things (IoT) Market size worth at USD 373.38 Billion in 2023 and projected to USD 1855.51 Billion by 2032, with a CAGR of around 19.5% between 2024-2032.

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.

Internet of Things in Energy Market is projected to reach USD 285.9 billion by 2032, growing at a CAGR of 25.1% from 2024-2032.

The Internet of Things in the Energy Market is segmented by Type (Hardware, IoT Software, IoT Platform, IoT Security, and IoT Services) and Geography. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.