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 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 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.

[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 Internet of Things (IoT) Identity and Access Management (IAM) market generated revenues exceeding seven billion U.S. dollars in 20223. The market value of IoT IAM was then forecast to increase to more than eight billion U.S. dollars in 2024, before growing significantly to around 20.5 billion U.S. dollars by 2030. The Internet of Things refers to a vast network of connected objects collecting and analyzing data and autonomously performing tasks. The security of these connected objects and of the data they collect is poised to become increasingly important in the near future.

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!

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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 global marine Internet of Things market is expected to rise from USD 7,680.35 Million in 2024 to USD 27,265.69 Million by 2032, achieving USD 8,861.45 Million in 2025, growing at a CAGR of 17.2% from 2025 to 2032.

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 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.

The global Internet of Things (IoT) market is forecast to be worth around 445.3 billion U.S. dollars in 2025, and rise to more than 934 billion U.S. dollars in 2033, tripling its revenue in ten years. Not only this, but the number of IoT connected devices worldwide is forecast to triple during this span in time. Major verticals and use cases All types of industry verticals and consumer markets use IoT devices, with the retail an wholesale segment accounting for the largest share of the IoT devices market with approximately 28 percent of the total IoT device market in 2023. This share is projected to grow over the next five years to around 38 percent. Smartphones are the most commonly used devices in the IoT consumer internet and media devices segment, acting as connectors between many smart devices. Connected vehicles, payment terminals, smart grid, building automation, CCTV, and security and fire alarms are other IoT use cases where global revenue is projected to reach, and in many cases surpass, the mark of 50 billion U.S. dollars. IoT revenue by region The region with the largest share of the IoT market is China, with North America and Europe coming in at a distant second and third in 2023. Over the next ten years, the market is forecast to lose some footing in the Greater China area, with both North America and Europe closing the gap in terms of revenue revenues.

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.

Internet of Things Analytics Market Share size and share are expected to exceed USD 307.72 billion by 2034, with a compound annual growth rate (CAGR) of 24.7% during the forecast period.

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Internet Of Things Data Management Market Size 2024-2028

The IoT data management market size is forecast to increase by USD 90.3 billion at a CAGR of 15.72% between 2023 and 2028.

The market is experiencing significant growth due to several key trends. The increasing adoption of industrial automation is driving the demand for efficient data management solutions. Manufacturing industries are leveraging IoT data to implement predictive maintenance strategies, reducing downtime and enhancing productivity.
However, there is a lack of awareness regarding the importance of effective IoT data management and the potential returns on investments. Addressing this challenge will be crucial for businesses looking to maximize the value of their IoT initiatives. Overall, the market is poised for substantial growth as more organizations recognize the benefits of IoT in areas such as operational efficiency, cost savings, and improved customer experiences.

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

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The market is experiencing significant growth due to the increasing deployment of intelligent devices and the subsequent generation of vast amounts of data. According to recent estimates, IoT is projected to generate over zettabytes of data annually, necessitating robust data management solutions. Data integration is a critical aspect of IoT data management, ensuring seamless data flow between various devices and systems.
Security is another major concern, with IoT botnets and hackers posing significant threats to sensitive data. Cloud services provide scalable storage solutions, while data warehouse architecture offers efficient data processing and analysis. Wireless technologies facilitate real-time data transfer, enabling applications in various sectors, including automotive, fleet management, and intelligent transportation systems.
Stanford University and Avast are among the institutions and companies contributing to IoT research and innovation. Data breaches and shared assessments programs are essential for ensuring data security and privacy. Smart gadgets, wearables, and homes are also driving the demand for advanced IoT data management solutions.

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

The internet of things (iot) data management 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.

Component

  Solutions
  Services


Deployment

  Private/hybrid
  Public


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By Component Insights

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

The IoT data management market is experiencing significant growth due to the increasing generation of data from intelligent devices and wireless technologies. In 2023, the solutions segment, including data integration, security, storage, and data warehouse architecture, dominated the market, driven by the globalization of IT and retail companies and the rise of SMEs in emerging economies. Companies offer software solutions to help organizations collect and analyze data from various end-user industries, enabling meaningful business insights. Data security is a major concern, with IoT botnets and data breaches posing threats. Cloud services provide a cost-effective and scalable solution for storing and managing IoT data.

The automotive market, including self-driving ecosystems, fleet management, and intelligent transportation systems, is a significant end-user industry. IoT initiatives in large enterprises and SMEs continue to expand, with the integration of sensors, scanners, digital gauges, and RFID technology. Key players in the market offer hybrid data management solutions, cloud data warehouses, and data integration technology. IoT data management is essential for gaining valuable insights from the zettabytes of data generated by IoT devices.

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The solutions segment was valued at USD 34.60 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 35% to the growth of the global market during the forecast period.

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

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The North American market for IoT data management experiences significant g

The global Industrial Internet of Things (IIoT) Market is expected to rise USD 3179.26 billion by 2034 And anticipated to grow at a CAGR of 23.5%.

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 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.

IoT Technology Market size and share are expected to exceed USD 2004.62 billion by 2034, with a compound annual growth rate (CAGR) of 7.8%.

Internet of things (IoT) market with valuation of USD 2,108.2 Billion by 2023 Further, market is predicted to witness CAGR of 17.56% between 2023

The Internet of Things (IoT) market in Italy grew steadily between 2015 and 2022. Valued at about two billion euros in 2015, it reached 8.3 billion in 2022, tripling over the period. Smart meters and smart cars are driving the growth of the Italian IoT market.

Beyond smart meters

Other smart devices are also gaining popularity in the Italian market. For example, the smart home market grew by about 29 percent between 2020 and 2021. 2018 saw the launch of Google Home and Amazon Echo. Smart speakers accounted for 20 percent of the smart home market in 2020, second only to home appliances, which accounted for 21 percent of the market. In the coming years, the smart home segment is expected to to grow even more.

From smart homes to smart cities

Italian cities were increasingly embracing IoT technologies. According to a survey conducted on a sample of 48 municipalities, 60 percent of smart city projects planned in 2018 revolved around security. More than half of municipalities planned to introduce smart lighting, while two in five wanted to improve their parking management through IoT technologies.