Enterprise IoT Market is Segmented by Offering (Hardware, Software, Services), Enterprise Size (Large Enterprises, Small & Medium Enterprises), Connectivity (Wired, Wireless), Industry Vertical (Manufacturing, Energy & Utilities, Transportation & Logistics, Retail, Healthcare, Agriculture, Hospitality, Government, Other Verticals), and by Geography. The Market Forecasts are Provided in Terms of Value (USD).

Snapshot img

UK IoT Market Size 2025-2029

The IoT market size in UK is forecast to increase by USD 25.74 billion at a CAGR of 12.5% between 2024 and 2029.

The Internet of Things (IoT) market is experiencing significant growth, driven by the implementation of Industry 4.0 and the increasing diversity in IoT standards. Industry 4.0, the fourth industrial revolution, is transforming industries by integrating physical and digital systems, creating new opportunities for IoT devices. Meanwhile, the growing diversity in IoT standards presents both challenges and opportunities, as businesses navigate the complex landscape of interoperability and compatibility. However, the lack of awareness about IoT devices among some organizations and individuals may hinder market growth. Advancements in technologies such as 5G networks, edge computing, big data, AI, and Industry 4.0 are transforming the IoT landscape. Moreover, the expansion of mobile network infrastructure and the increasing adoption of cloud computing in North America are major drivers for the market.
These trends and challenges highlight the need for a deep understanding of the IoT market dynamics, which this market trends and analysis report aims to provide. By exploring the key drivers, trends, and challenges shaping the IoT market, businesses can make informed decisions and capitalize on the opportunities presented by this rapidly evolving technology.

What will be the Size of the market During the Forecast Period?

Request Free Sample

The Internet of Things (IoT) market is experiencing significant growth and innovation, with various sectors integrating IoT solutions to enhance operations and customer experiences. Smart building technologies are revolutionizing commercial real estate, while connected customer experiences are transforming retail and education. IoT solutions providers are addressing risk management in smart city infrastructure, enabling remote asset tracking in connected manufacturing, and providing predictive analytics for precision agriculture and supply chain visibility. The IoT ecosystem is expanding, with industrial IoT driving digital transformation in industries, building automation systems optimizing business processes, and telehealth solutions improving healthcare delivery. Renewable energy integration, personalized learning, connected logistics, and fraud detection are among the numerous applications of IoT.

IoT implementation requires robust security solutions, with IoT strategy becoming a priority for businesses in finance, retail, and education. Smart home automation, smart city infrastructure, and smart energy grids are redefining urban living, while IoT in agriculture and connected car technology are revolutionizing rural and transportation sectors, respectively.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Industrial
  Retail
  Healthcare
  ICT
  Others


Technology

  RFID
  Sensors
  NFC
  Cloud services
  Others


Component

  Hardware
  Software
  Services


Deployment

  Cloud-based
  On-premises


Geography

  Europe

    UK

By End-user Insights

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

In the dynamic IoT market, various sectors are leveraging this technology to enhance productivity and gain a competitive edge. The industrial segment holds the largest market share, with the integration of location-based sensors for inventory management being a major trend. Globally, manufacturers are utilizing IoT to optimize their production processes through predictive maintenance and real-time data analysis. IoT applications in industries span across power management, quality control, and smart logistics. Software development enables machines and devices to connect to the Internet, while firmware updates ensure seamless functionality. Predictive maintenance and energy management are crucial aspects of IoT implementation in industries.

Edge computing and data visualization facilitate efficient data processing and analysis. Data privacy and network security are essential considerations in the implementation of IoT systems. Industrial automation, machine learning, and artificial intelligence are key technologies driving the industrial IoT market. IoT hubs and connectivity protocols facilitate seamless communication between devices and systems. Sensor networks and connected devices enable data collection and analysis in real-time. In the realm of industrial IoT, the focus is on optimizing supply chain operations, enhancing energy management, and improving overall efficiency.

Get a glance at the market report of share of various segments

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 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.

The AI in IoT Market Report is Segmented by Component (Software and Services), Deployment Mode (On-Premises and Cloud), Technology (Machine Learning and Deep Learning, Natural Language Processing, and More), Iot Connectivity Type (Cellular, LPWAN, and More), End-User Vertical (Manufacturing, Energy and Utilities, and More), and Geography.

The Industrial IoT Market is estimated to be valued at USD 556.6 billion in 2025 and is projected to reach USD 1744.2 billion by 2035, registering a compound annual growth rate (CAGR) of 12.1% over the forecast period.

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 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.

According to Cognitive Market Research, the global Consumer IoT market size was USD 135.7 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 8.3% from 2024 to 2031. Market Dynamics of Consumer IoT Market

Key Drivers for Consumer IoT Market

Rapid Technological Advancements - One of the main reasons the Consumer IoT market is growing is the fast technological advancements. Continuous innovations in IoT devices and connectivity solutions drive the Consumer IoT market. Advancements such as smaller, more powerful sensors, improved connectivity protocols like 5G, and enhanced data analytics capabilities contribute to the proliferation of IoT devices in consumer applications. This technological evolution expands the scope and functionality of consumer IoT, enticing consumers with smarter, more interconnected products that offer convenience and efficiency in daily life.
The increasing demand for smart home solutions is anticipated to drive the Consumer IoT market's expansion in the years ahead.

Key Restraints for Consumer IoT Market

The interoperability issues limit seamless integration and user experience, hindering the Consumer IoT industry.
The market also faces significant difficulties related to privacy concerns.

Introduction of the Consumer IoT Market

The Consumer IoT market encompasses a vast array of interconnected devices designed to enhance convenience, efficiency, and automation in everyday life. From smart home appliances and wearable gadgets to connected vehicles and personal health monitors, consumer IoT devices are revolutionizing the way people interact with their surroundings. This market is propelled by advancements in sensor technology, wireless connectivity, and data analytics, enabling devices to collect, process, and exchange information seamlessly. Consumer demand for enhanced connectivity, convenience, and personalized experiences continues to drive innovation in this space. However, challenges such as privacy and security concerns, interoperability issues, and the need for standardized protocols persist, influencing consumer trust and adoption rates. Despite these hurdles, the Consumer IoT market is poised for substantial growth as companies strive to deliver more intuitive and interconnected solutions that cater to the evolving needs and preferences of tech-savvy consumers.

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

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.

Check Market Research Intellect's Intelligent Iot Market Report, pegged at USD 85 billion in 2024 and projected to reach USD 160 billion by 2033, advancing with a CAGR of 8.5% (2026-2033).Explore factors such as rising applications, technological shifts, and industry leaders.

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 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. 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.

According to Cognitive Market Research, the global AI in IoT market was 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 Narrowband IoT Market size was valued at USD 11.5 Billion in 2024 and is projected to reach USD 107.29 Billion by 2032, growing at a CAGR of 32.2% during the forecast period. i.e., 2026-2032.Narrowband IoT (NB-IoT) is a low-power wide-area network (LPWAN) communication technology that operates within licensed cellular spectrum and is designed specifically for the Internet of Things (IoT). It enables secure, reliable, and energy-efficient communication between devices that transmit small amounts of data over long periods. NB-IoT supports large-scale connectivity, offers deep indoor coverage, and provides long battery life, making it suitable for applications such as smart meters, asset tracking, agriculture monitoring, and industrial automation.

The 5G IoT Market is estimated to be valued at USD 6.2 billion in 2025 and is projected to reach USD 85.0 billion by 2035, registering a compound annual growth rate (CAGR) of 29.9% over the forecast period.

The Consumer IoT Market Report is Segmented by Product Type (Hardware, Software, and Services), Connectivity Technology (Wi-Fi, Bluetooth / BLE, Zigbee / Z-Wave / Thread, and More), Application (Home Automation, Consumer Wearables, Consumer Electronics, Healthcare Devices, Automotive, and Other Applications), Distribution Channel (Online and Offline) and Geography.

Snapshot img

Cellular Iot Market Size 2024-2028

The cellular iot market size is valued to increase USD 16.45 billion, at a CAGR of 32.14% from 2023 to 2028. Implementation of cellular IoT modules in smart city infrastructure and building automation will drive the cellular iot market.

Major Market Trends & Insights

North America dominated the market and accounted for a 33% growth during the forecast period.
By Component - Hardware segment was valued at USD 1.63 billion in 2022
By Type - 3G segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 655.66 million
Market Future Opportunities: USD 16445.70 million
CAGR from 2023 to 2028 : 32.14%

Market Summary

The market encompasses the use of cellular technology to connect Internet of Things (IoT) devices and enable seamless communication between them. This dynamic market is driven by the increasing adoption of cellular IoT modules in various sectors, including smart city infrastructure and building automation. According to a recent report, the global market share for cellular IoT in smart cities is projected to reach 45% by 2026. The applications of cellular IoT are expanding beyond urban landscapes, with growing traction in vehicle telematics and fleet management. However, the market faces challenges such as cybersecurity threats, with an alarming increase in the number of reported attacks. Despite these hurdles, the opportunities for growth are immense, as cellular IoT continues to revolutionize industries and transform the way we connect and interact with the world around us.

What will be the Size of the Cellular Iot Market during the forecast period?

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

How is the Cellular Iot Market Segmented ?

The cellular 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 2018-2022 for the following segments. ComponentHardwareSoftwareType3G2G4GOthersGeographyNorth AmericaUSEuropeGermanyUKAPACChinaJapanRest of World (ROW)

By Component Insights

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

The market is witnessing substantial expansion in the hardware sector, driven by the increasing demand for connected devices such as sensors, actuators, gadgets, appliances, and machines. These devices, capable of transmitting data over the Internet or other networks, enable the creation of interconnected systems that facilitate real-time data analytics. This enhancement in machine-to-machine (M2M) communication significantly improves the reliability and efficiency of hardware devices. Approximately 25% of IoT devices currently operate on cellular connectivity, with this figure projected to reach 35% by 2025. Furthermore, the integration of advanced technologies like network slicing, remote device monitoring, device authentication, and low-power wide-area networks (LPWANs) is expected to boost market growth. These technologies contribute to improved signal propagation, IoT device management, data analytics, and spectrum allocation. Moreover, the integration of APIs, data security protocols, battery life extension, and power consumption optimization is essential for the development of cellular IoT solutions. These advancements are crucial for addressing concerns related to network infrastructure, data throughput, geographic positioning, and antenna design. Additionally, the implementation of real-time tracking, predictive maintenance, edge computing, low-power sensors, cellular modules, energy harvesting, remote firmware updates, and sensor data aggregation further enhances the capabilities of cellular IoT systems. These features contribute to reduced network latency, IoT platform integration, and seamless m2m communication, making cellular IoT an indispensable technology for various industries.

Request Free Sample

The Hardware segment was valued at USD 1.63 billion in 2018 and showed a gradual increase during the forecast period.

Request Free Sample

Regional Analysis

North America is estimated to contribute 33% 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 Cellular Iot Market Demand is Rising in North America Request Free Sample

The market in North America is experiencing significant growth, fueled by the expanding industrial, automotive, and healthcare sectors. These industries are increasingly adopting cellular IoT solutions to enhance operational efficiency and gain competitive advantages. The advantages of cellular IoT, including low power consumption and quicker data transfer sp

The Agriculture IoT Market is estimated to be valued at USD 16.8 billion in 2025 and is projected to reach USD 43.7 billion by 2035, registering a compound annual growth rate (CAGR) of 10.0% over the forecast period.