The global market value of consumer IoT in 2022 was about 75.1 billion U.S. dollars. North America was the largest regional market for consumer IoT market in 2022 amounting to around 29.8 billion U.S. dollars.

More information on the global consumer IoT market can be found here.

The North America IoT Security Market report segments the industry into Type Of Security (Network Security, End-Point Security), Solution (Software, Services), End-User Industry (Automotive, Healthcare, Government, Manufacturing, Energy And Power, Retail, BFSI, Others End-User Industries), and Geography (United States, Canada). Get five years of historical data alongside five-year market forecasts.

North America Massive IoT market size will be USD 29007.44 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.4% from 2024 to 2031. North America has emerged as a prominent participant, and its sales revenue is estimated to reach USD 120590.1 Million by 2031. This growth is mainly attributed to the region's technological advancements.

Revenue in the healthcare IoT segment of the internet of things market in North America was worth around 31.5 billion U.S. dollars in 2024. The healthcare IoT market increased year-on-year and was forecast to continue increasing in the future to over 51 billion U.S. dollars by 2029.

North America Industrial IoT Market by Component (Hardware, Platform, Services, Connectivity), Industry (Agriculture, Manufacturing, Energy & Utilities, Oil & Gas, Aerospace, Retail, Transportation & Logistics, Others), & Geography - Forecast to 2032

The IoT Market report segments the industry into By Component (Hardware, Software/Platform, Connectivity, Services), By End-user Industry (Manufacturing, Transportation, Healthcare, Retail, Energy and Utilities, Residential, Other End-user Industries), and By Geography (North America, Europe, Asia, Australia and New Zealand, Latin America, Middle East and Africa). Get five years of historical trends and five-year forecasts.

The North American and European IoT Gateway Market is segmented by Application (Home Automation and Security, Mobility and Transportation, Industrial and Infrastructure), by End-user Industry (Automotive and Transportation, Industrial, Oil & Gas, Retail, BFSI, Aerospace & Defense) and Geography.

North America Industrial IoT Market is expected to grow during 2025-2031

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Industrial Internet Of Things Market Size 2025-2029

The Industrial Internet of Things (IoT) market size is forecast to increase by USD 195.8 billion at a CAGR of 14.8% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing adoption of industrial automation to enhance productivity and efficiency in various industries. This trend is further fueled by the evolution of global device managers, enabling seamless integration and management of IoT devices. However, despite these opportunities, there are challenges that require careful consideration. One major challenge is the lack of awareness and efficient management of IoT initiatives and investments. Companies must prioritize strategies to address this issue, such as implementing IoT management platforms and educating stakeholders on the benefits of IoT.
Effective navigation of these challenges will be crucial for businesses seeking to capitalize on the vast potential of the Industrial IoT market. By focusing on strategic planning and operational excellence, companies can successfully leverage IoT technologies to drive innovation, improve operational efficiency, and gain a competitive edge.

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

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The market encompasses the integration of electronic devices, sensors, and networking technology to optimize industrial processes and improve productivity. This market is experiencing significant growth due to the increasing affordability of sensors and semiconductors, enabling more devices to connect and exchange data in real-time. Big data analysis, machine learning, and AI are key drivers, allowing for predictive maintenance, workflow automation, and M2M communication. Technology advancements, such as power efficiency, worker safety, and standardization of IPv6, are also fueling market expansion. The automotive sector is a major adopter, with applications ranging from fleet management to autonomous vehicles. Blockchain and wireless technology are emerging trends, offering enhanced security and connectivity.
Cloud computing platforms, such as Microsoft Azure and Amazon Web Services, are essential for managing the vast amounts of data generated by IoT devices. Market incumbents are focusing on operational competence and productivity improvement, ensuring their solutions remain competitive in this rapidly evolving landscape. Overall, the Industrial IoT market is poised for continued growth, transforming industries and reshaping the digital-human workforce.

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

The industrial internet of things (IoT) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Manufacturing
  Automotive and transportation
  Energy and utilities
  Healthcare
  Others


Component

  Hardware
  Software
  Services
  Platforms


Connectivity

  Wired
  Wireless


Deployment

  On-cloud
  On-premises


Organization Size

  Large Enterprises
  Small and Medium Enterprises (SMEs)


Geography

  APAC

    Australia
    China
    India
    Japan
    South Korea


  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  South America

    Brazil


  Middle East and Africa

    UAE


  Rest of World (ROW)

By End-user Insights

The manufacturing segment is estimated to witness significant growth during the forecast period. The market is experiencing significant growth as manufacturers worldwide adopt this technology to enhance productivity and gain a competitive edge. Machines and electronic devices are connected to the Internet through software, enabling real-time data collection and analysis. This data is used for predictive maintenance, performance optimization, and worker safety. However, the IoT market faces challenges such as the need for increased investments, redesigning business models, security concerns, and interoperability issues. Favorable government policies and partnerships among industry players are addressing these challenges, leading to advancements in areas like M2M communication, AI, and edge computing. Key technologies include AWS IoT TwinMaker, AWS IoT SiteWise, Google, Ubisense, and Siemens Xcelerator.

Market dynamics are driven by the standardization of IPv6, machine learning, and Big Data. IoT applications span various industries, including machinery, food and beverage, chemicals and materials, and electrical and electronics. Market growth is further fueled by the adoption of cloud-based services, wireless technologies, and affordable processors. IoT is also transforming sectors like transportation, with applications in smart cities, transit managem

The North America IoT security market reached around USD 2.41 Billion in 2024. The market is projected to grow at a CAGR of 25.10% between 2025 and 2034 to reach nearly USD 22.63 Billion by 2034.

The North America Industrial IoT report features an extensive regional analysis, identifying market penetration levels across major geographic areas. It highlights regional growth trends and opportunities, allowing businesses to tailor their market entry strategies and maximize growth in specific regions.

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Consumer IoT Market Size 2024-2028

The consumer IoT market size is forecast to increase by USD 127.18 billion at a CAGR of 13.14% between 2023 and 2028.

The market is experiencing significant growth due to the increasing popularity of connectivity solutions for home automation and monitoring applications. Energy management is another key driver, as consumers seek to reduce energy usage and save costs. Wearable technology, particularly in the areas of health consciousness and chronic disease management, is also fueling market expansion.However, concerns over data security and privacy are major challenges, necessitating the development of advanced security solutions. Semiconductor companies are addressing these challenges through the production of chipsets designed for IoT applications. Geographic presence and strategic collaborations are also important factors, with companies expanding their offerings in home automation, autonomous driving, mobility, and IoT development kits. The market is further influenced by the integration of IoT technology into various sectors, including home entertainment, toys, and networking. As digitalization continues to transform industries, the market is poised for continued growth.

What will be the Consumer IoT Market Size During the Forecast Period?

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The Internet of Things (IoT) has emerged as a game-changer in various industries, and the consumer sector is no exception. The integration of technologically advanced devices into everyday life has become increasingly popular, with home appliances leading the charge. This trend is driven by the availability of microcontrollers and wireless technologies, enabling seamless connectivity between devices and computers. The market encompasses a wide range of smart devices, from fitness trackers and smart thermostats to connected doorbells and security systems. These interconnected systems offer numerous benefits, including convenience, improved lifestyle, and data management capabilities.



However, they also present unique challenges, such as cyberattacks and data breaches. Internet users in both developed and developing economies are embracing the IoT revolution, with a growing number of households adopting smart devices. Fitness enthusiasts, for instance, can monitor their health metrics and track workouts using wearable devices. Meanwhile, homeowners can optimize energy usage with smart thermostats and enhance security with connected doorbells. As the number of connected devices grows, so does the amount of consumer data being generated. Data management software and predictive analytics play a crucial role in ensuring the secure and efficient handling of this data.

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 billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Wireless
  Wired


End-user

  Home automation
  Consumer electronics
  Wearable devices
  Healthcare


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By Type Insights

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

In the market, suppliers of technology and components for wearable devices and biosensors hold a moderate level of influence. While standard components like sensors, chips, and connectivity modules are sourced from various suppliers, those offering specialized or proprietary technology hold more power due to their unique offerings. These unique offerings may include advanced algorithms for analyzing heart rate, sleep patterns, blood sugar levels, and other vital variables. In the realm of patient care, remote monitoring, and observation, IoT devices such as smartwatches and wireless wearable biosensors play a significant role.

Furthermore, as healthcare professionals increasingly rely on these devices for treatment and observation, the demand for advanced and accurate sensors and software solutions is on the rise. CE marking and other regulatory requirements ensure the quality and safety of these devices.

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The wireless segment was valued at USD 63.52 billion in 2018 and showed a gradual increase during the forecast period.

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.

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In North America, the Internet of Things (I

North America Blockchain IoT Market is expected to grow during 2025-2031

North America was the largest regional market for consumer IoT market in 2022 amounting to around 29.9 billion U.S. dollars. Between 2023 and 2030, the North American market was forecast to grow by a compound annual growth rate of 13 percent, reaching a projected 79.3 billion U.S. dollars in 2030.

More information on the global consumer IoT market can be found here.

North America Internet of Things Market is projected to reach Healthy CAGR in the Forecast Period 2024-2030

The North America IoT Data Management Market would witness market growth of 13.7% CAGR during the forecast period (2024-2031). The US market dominated the North America IoT Data Management Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market v

North America IoT Connectivity Management Platform market size will be USD 2980.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.7% from 2024 to 2031. North America has emerged as a prominent participant, and its sales revenue is estimated to reach USD 8893.6 Million by 2031. This growth is mainly attributed to the region's advanced technological infrastructure and high adoption rates of IoT solutions across various industries.

The North America Agriculture IoT Market would witness market growth of 9.4% CAGR during the forecast period (2024-2031). The US market dominated the North America Agriculture IoT Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of

North America Internet Of Things (IoT) Devices comes with extensive industry analysis of development components, patterns, flows, and sizes. The report calculates present and past market values to forecast potential market management during the forecast period between 2025 - 2033.

The North America IoT Sensors Market would witness market growth of 27.2% CAGR during the forecast period (2024-2031). The US market dominated the North America IoT Sensors Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $46,602.