Global Internet of Things (IoT) Market By Component (Hardware, Software, and Services), By Connectivity Technology (Wired, and Wireless), By Deployment Mode (On-Premises, and Cloud-Based), By Enterprise Type, By Application, By Industry Vertical - Global Industry Outlook, Key Companies (Amazon Web Services (AWS), Microsoft Corporation, IBM Corporation, and others), Trends and Forecast 2025-2034

Global Internet of Things (IoT) market is seeing tremendous growth due to increased smart device adoption and intersection of cloud computing and AI. Internet of Things is being used in manufacturing, healthcare, retail, and logistics businesses as it supports automated processes and real-time information sharing. Adoption of 5G networks, advancement in edge computing, and increased industrial automation are driving IoT adoption globally.

Opportunities in the market for IoT are vast, and smart cities, precision farming, and connected healthcare emerging use cases have tremendous potential. Government and enterprises are investing heavily in IoT infrastructure for increased productivity and quality of life. The advent of digital twin and industrial predictive maintenance is yet another testament to the disruptive impact of IoT. Blockchain-based secure transactions and artificial intelligence-based analytics are adding to the attractiveness of IoT implementations. As organizations move towards making informed decisions based on information, demand for solutions based on IoT is expected to soar.

Despite rapid advancement, market growth is tempered by worries such as cyber threats, deployment costs, and data privacy concerns. The surge in connected devices heightens cyber threat risks and security for IoT is thus a major agenda for organizations. Interoperability issues across multiple IoT protocols and platforms are another technical hindrance. However, there are opportunities for them to be mitigated in the longer term since there are ongoing advancements in compliance and standards.

The future for the market for IoT is promising as advancements in AI, machine learning, and cloud-based solutions keep driving innovation. The market in the Asia-Pacific is becoming a key market since there is quick industrialization and smart cities are being planned and implemented in this market, and in North America, there is leadership in technology and enterprise-level use of IoT. As businesses and consumers continue to adopt IoT, there is going to be quick market growth.

The US Internet of Things (IoT) Market

The US Internet of Things (IoT) Market is projected to be valued at USD 24.6 billion in 2025. It is expected to witness subsequent growth in the upcoming period as it holds USD 108.3 billion in 2034 at a CAGR of 17.9%.

The US is at the top in Internet of Things (IoT) uptake globally, supported by widespread investments in smart technology, industrial automation, and AI-enabled IoT solutions. The rapid convergence of 5G, cloud computing, and edge analytics is leading to rapid deployment of IoT across manufacturing, healthcare, transport, and retail. The United States is home to one of the biggest penetrations in the Internet at above 90%, offering uninterrupted connectivity and pushing consumer-level uptake in smart home, wearables, and connected appliances.

One key driver for US market growth in IoT is its demographic advantage in possessing a highly skilled tech pool and an innovative economy. The smart city programs, connected infrastructure, and smart traffic solutions are at the leading edge in cities like New York, San Francisco, and Chicago, while Silicon Valley remains the global hotspot for IoT R&D and start-up ecosystem. The increased application of industrial IoT (IIoT), predictive maintenance, and AI-based analytics in businesses increases efficiency and automated processes.

Growth in autonomous vehicles, security solutions for IoT based on AI, and real-time asset tracking is yet another force driving market growth. American technology leaders like Amazon Web Services (AWS), Microsoft, IBM, Cisco, and Intel are continuously pushing the limits in IoT infrastructure, AI-based analytics, and solutions for edge computing, consolidating leadership in the nation. In addition, smart manufacturing and cyber security guidelines supported by the government ensure a secure and expandable Internet of Things ecosystem. The U.S. market for IoT is a global leader in deployment and innovation as investments and research in blockchain, AI, and 6G continue without interruption.

Global Internet of Things (IoT) Market: Key Takeaways

• Global Market Size Analysis: The Global Internet of Things (IoT) Market size is estimated to have a value of USD 77.5 billion in 2025 and is expected to reach USD 373.3 billion by the end of 2034.
• The US Market Size Insights: The US Internet of Things (IoT) Market is projected to be valued at USD 24.6 billion in 2025. It is expected to witness subsequent growth in the upcoming period as it holds USD 108.3 billion in 2034 at a CAGR of 17.9%.
• Regional Insights: North America is expected to have the largest market share in the Global Internet of Things (IoT) Market with a share of about 37.7% in 2025.
• Key Players Insights: Some of the major key players in the Global Internet of Things (IoT) Market are Amazon Web Services (AWS), Microsoft Corporation, IBM Corporation, Google LLC, Cisco Systems, Inc., Intel Corporation, Siemens AG, and many others.
• Global Growth Rate Insights: The market is growing at a CAGR of 19.1 percent over the forecasted period of 2025.

Global Internet of Things (IoT) Market: Use Cases

• Smart Manufacturing: IoT-powered factories incorporate real-time sensing, automated maintenance, and robotic processes for increased productivity and reduced downtime. Sensors track performance of machines to enable proactive maintenance and supply chain performance improvement.
• Connected Healthcare: Connected healthcare includes wearable technology, remotely monitoring patients, and smart healthcare systems to better provide patient care. Real-time health monitoring and analytics using artificial intelligence enable quick diagnosis and treatments.
• Smart Cities: IoT solutions optimize traffic management, waste disposal, and energy usage in urban areas. Smart streetlights and automated public transport improve efficiency, reducing congestion and pollution.
• Intelligent Retail: Retailers are making use of IoT for inventory monitoring, automated payment and checkout, and personal shopper experience. AI-based insights and smart shelves allow them to optimize stock levels and customer engagement.
• Agriculture Automation: Smart farming based on Internet of things, real-time sensing of soils, and automated irrigation maximize yield and conserve resources. Farmers receive real-time information regarding soils and weather to improve decision-making.

Global Internet of Things (IoT) Market: Stats & Facts

• Hardware will account for 35% of the IoT market's $1.7 trillion value: According to PwC, hardware is expected to dominate the Internet of Things market, making up 35% of the total market value, followed by IoT services (27%) and connectivity (22%).
• IoT market investments are divided based on hardware dominance: As per statistics data provided by PwC, investments in the market for IoT are divided as hardware (35%), service (27%), connectivity (22%), and software (16%) and position hardware as largest in industry spends.
• Experts had estimated there would be 200 billion IoT devices in 2020: Intel projections had targeted as much as 200 billion Internet-connected products in 2020 based on rising demand for smart products, especially in the middle of the COVID-19 crisis.
• 500 million units in 2023 expected for wearable devices: As per Business Wire, smartwatches and wearable fitness trackers worldwide shipment volumes are expected to rise from 300 million in 2019 to 500 million units in 2023.
• 127 Internet-enabled devices are connected each second: According to CSO Online, Internet of Things is witnessing tremendous acceleration, resulting in nearly 127 devices being connected to the network in each second, reinforcing IoT’s ever-growing presence across the globe.
• IoT devices outpaced mobile devices in a ratio of 3:1 in 2015: According to reports by Energati and ZDNet, IoT devices outpaced mobile devices much sooner than had been expected, at a ratio of 3:1 in 2015 rather than at the originally expected milestone in 2018.
• 3.5 billion cellular IoT connections in 2023: Ericsson is predicting cellular IoT connections to reach 3.5 billion globally in 2023 and for China and Northeast Asia to have 2.2 billion.
• In 2020, four gadgets for every human being: By 2020, there would be four gadgets for every human being, as estimated by market research company Gartner, based on widespread consumer adoption in smart technology worldwide.
• Over forty percent are being used for residential application: As much as nearly 50% of total IoT devices are being used for smart home application, like security systems, smart speakers, and connected appliances.
• Global corporate investments in IoT solutions totaled $6 trillion in 2021: By 2021, companies would have spent $6 trillion in IoT solutions to enhance customer experience and operational efficiency, Business Insider estimated.
• IoT market is expected to reach $1.57 trillion in 2025: The global Internet of Things market is expected to reach more than $1.57 trillion in 2025, far beyond previous years when it had a market value of $150 billion.
• Smartphones dominate in IoT, and there are 3 billion in use in 2018: As estimated by Newzoo, there are over 3 billion smartphone-connected users worldwide in 2018, as compared to other connected devices.
• Sales in smart home products total over $50 billion in 2018: Strategy Analytics recognized smart home products based on IoT as making $50 billion in sales in 2018 and are expected to hit over $78 billion in 2023.
• Global spends in IoT had been projected to be at $749 billion in 2020: As per Statista, in 2020, total spends worldwide for IoT-related technologies would be at $749 billion since there is increased usage across various industrial sectors.
• IoT will contribute at least $10 trillion to global GDP in 2040: Forbes is predicting IoT adoption will have a monetary impact in between $10 trillion and $15 trillion in 2040, equaling today's economy in China.
• IoT adoption created thousands of jobs in Barcelona: Barcelona smart city initiatives based on IoT have saved $37 million annually and created some 47,000 jobs, as cited by Harvard.
• 40.2% investments in IoT come from businesses and manufacturing: As per InField Solutions, businesses and manufacturing account for 40.2% in total investments in IoT, implementing the technology for cost savings, efficiency, and automated processes.

Global Internet of Things (IoT) Market: Market Dynamic

Driving Factors in the Global Internet of Things (IoT) Market

Expansion of 5G Networks and High-Speed Connectivity
The deployment of 5G technology is accelerating IoT uptake as it provides ultra-low latency, quick data transfer, and improved network reliability. Traditional 4G networks are not capable of supporting widespread implementations in IoT, especially in smart manufacturing, healthcare, and logistics, as real-time information is crucial for them. With 5G, IoT devices can better communicate, reducing delays in mission-critical use cases such as remote procedures, self-driving vehicles, and industrial automation. 

The emergence of massive Machine Type Communications (mMTC) in 5G networks supports billion-scale connected IoT devices simultaneously, providing opportunities for larger-scale smart city programs, smart supply chains, and connected farming. As telcos like Verizon, AT&T, and Huawei continue to build out their 5G networks, IoT uptake is expected to pick up globally, resulting in increased opportunities and innovation for businesses.

Growing Investments in Smart Cities and Infrastructure

Governments and municipalities worldwide are investing heavily in smart city programs, creating a demand for IoT solutions for urban planning, traffic management, energy efficiency, and public security. IoT-based smart city solutions like smart lighting, garbage collection, and smart traffic are being implemented to achieve optimized resource use and quality of life. Singapore, Amsterdam, and Dubai have implemented IoT-based air quality sensing, automated traffic flow, and smart utilities, proving the potential for urban transformation through IoT. 

The collaboration between the public and private sector is creating IoT-based infrastructure solutions as top players in technology are collaborating with governments to build efficient and scalable solutions. As urbanization is expected to continue in the future, smart city solutions based on IoT will play a key role in making cities sustainable, efficient, and connected.

Restraints in the Global Internet of Things (IoT) Market

Cybersecurity Risks and Data Privacy Concerns
IoT rapid deployment has raised serious concerns about cyber security and data privacy. The enormous network of connected devices in IoT systems makes them susceptible to hacking, malware infection, and unauthorized usage. Cyberattacks like Mirai botnet have established the risks associated with insecure IoT networks. The absence of security standards in IoT products makes smart home, healthcare, and industrial networks vulnerable. 

Privacy is another severe concern as IoT products collect vast user information, raising concerns about data ownership, compliance, and compliance issues. As stricter legislations like GDPR and CCPA are enacted, organizations must invest in secure encryption, authentication, and security frameworks to address these concerns. Secure-by-design architectures for IoT are urgently needed to avoid cyberattacks and restore user confidence in IoT solutions.

High Implementation Costs and Complexity
Despite being beneficial, deployment is linked to costly deployment costs, complexity in infrastructure, and interoperability issues. It necessitates massive investments in connectivity, analytics frameworks, and repositories for holding information, making deployment costly for SMEs. Interoperability among different IoT solutions, devices, and communication protocols makes smooth deployment and scalability problematic. 

Various industry-based legacy systems in manufacturing, healthcare, and retail are incompatible with supporting solutions for IoT and thus need upgrades and replacements at a financial cost. The complexity in managing networks for IoT, information processing, and security controls is another reason for increased costs in running operations. To overcome these issues, organizations must focus on interoperable frameworks for IoT, cost-effective solutions, and cloud-based solutions for easy deployment and maintenance for IoT networks.

Opportunities in the Global Internet of Things (IoT) Market

Expansion of IoT in Healthcare and Remote Patient Monitoring
IoT is a key sector for use in healthcare, and in particular in remote patient monitoring, telemedicine, and smart medical devices. The market for connected health monitors, connected diagnostic tools, and AI-based predictive analytics is growing as healthcare providers are looking to better treat patients and keep them out of the hospital. Connected products like smart insulin pumps, ECG monitors, and biosensors allow for real-time health monitoring, and early disease identification and preventive medical interventions are possible. 

The application of IoT in healthcare experienced a surge in usage in the time of COVID-19 as connected products have been used in hospitals for contactless patient monitoring, automated ventilators, and smart hospital management. As individual and remote healthcare solutions are in increased demand, IoT-based healthcare solutions will keep shaping the healthcare industry, making it efficient and bettering patient outcomes.

Industrial IoT (IIoT) and Predictive Maintenance in Manufacturing
Industrial Internet of Things (IIoT) is revolutionizing manufacturing as we know it, enabling predictive maintenance, real-time asset tracking, and automated manufacturing processes. Real-time insights about equipment health are provided by IoT sensors embedded in equipment, and manufacturing businesses use this information to prevent downtimes, reduce maintenance costs, and maximize efficiency. Siemens, GE, and Bosch are some of the companies using IIoT solutions in factories to streamline processes, eliminate wastes, and maximize productivity. 

The application of digital twin, a technology for creating virtual replicas for real-world assets, is being widely applied in IIoT for emulating and streamlining industrial processes. Predictive maintenance based on AI and machine learning is making it possible for manufacturing businesses to prevent failures before they occur, thus improving productivity and reducing costs. As smart factories and Industry 4.0 are being formed, IIoT is expected to play a key role in shaping supply chains, logistics, and manufacturing cycles across the world.

Trends in the Global Internet of Things (IoT) Market

Expansion of Edge Computing in IoT Ecosystems
Edge computing is transforming the paradigm for IoT as it reduces latency, increases data processing capability, and allows real-time analytics at the level of the device. Conventional cloud-based solutions for IoT are slowed down by network traffic and delays caused by central processing. The application of edge computing does away with this and processes information at or near the source, leading to rapid decision-making and improved efficiency. 

Industries such as manufacturing, healthcare, and autonomous vehicles are adopting solutions based on the edge for IoT for smooth and efficient functioning. The application of AI and machine learning at the level of the edge allows real-time anomaly detection, preventive maintenance, and improved security. Companies like NVIDIA, Intel, and AWS are investing heavily in solutions for edge computing for supporting emerging IoT ecosystems. As connected devices continue to swell in numbers, reliance on edge computing is expected to follow suit and rise, making it a trend-setting force in IoT deployment.

Rise of AI and Automation in IoT
Artificial Intelligence (AI) is revolutionizing IoT in a significant manner as it makes possible autonomous decision-making, advanced analytics, and security. AI-based IoT solutions can self-optimise, detect failure in equipment, and carry out routine tasks automatically, reducing human intervention and making them efficient. The intersection of IoT, AI, and machine learning is highly impactful in enterprises like retail, healthcare, and smart cities, as smart automation streamlines processes.

Cybersecurity is also enhanced in consumer IoT products like smart home, wearables, and connected vehicles thanks to AI-based solutions, as they recognise abnormalities and block threats in real time. The application of AI chatbots, voice assistants, and predictive analytics in consumer IoT products like smart home, wearable, and connected vehicles is on the rise as a trend. As AI-based programs improve, the ecosystem for IoT will keep on evolving, providing increased automation, efficiency, and smartness across different domains.

Global Internet of Things (IoT) Market: Research Scope and Analysis

By Component

Hardware is projected to dominate the Internet of Things (IoT) industry since it is at the center of sensing, connectivity, and processing. A vast range of actuators, sensors, microcontrollers, edge devices, and gateways are being used in IoT systems for real-time sensing, automation, and smart decision-making in a variety of industry domains. The widespread application of smart appliances, industrial automation, and connected infrastructure have given rise to tremendous demand for efficient and resilient IoT hardware solutions.

With rising usage and deployment of edge computing and AI-enabled IoT, hardware dominance is being established at a larger level. The hardware processes information at or close to the source, reducing latency and network traffic, and making advanced connectivity elements, embedded AI units, and performance-intensive chips central for efficient deployment in IoT. Market leaders Intel, Qualcomm, and NVIDIA are investing heavily in next-generation IoT hardware for supporting 5G connectivity, automated processes based on AI, and industrial use in IoT (IIoT).

Moreover, manufacturing, healthcare, and automotive require dedicated IoT hardware for self-driving vehicles, distant patient monitoring, and preventive maintenance. Greater use of industrial IoT solutions, home appliances, and wearables is creating demand for advanced microcontrollers, power-saving solutions, and resilient sensors.

With increased IoT uptake, there will be a need for resilient, expandable, and performance-intensive hardware, and this will continue to propel growth. Software and cloud-based solutions may empower data processing and analytics but are still hardware-dependent and thus reinforce hardware leadership in the market. The trend towards lower-power IoT chips, AI-based solutions, and solutions based on edge computing will continue to reinforce hardware leadership in the IoT market.

By Connectivity Technology

Wired connectivity is projected to dominate the market for IoT due to reliability, lower latency, and improved security compared to wireless solutions. Wired solutions for IoT are applied in industrial processes demanding uninterrupted flow like manufacturing, healthcare, and smart infrastructure to prevent loss and ensure smooth operation. Technologies such as Ethernet, optical fibers, and industrial fieldbus systems provide secure and stable links with improved bandwidth and interference, hence ideal for mission-critical installations for IoT.

In industrial environments, IIoT solutions need real-time information sharing and minimized latency and are consequently a prime candidate for use in robot installations, automated systems, and preventive maintenance. Wired networks are accorded prime consideration for use in smart grid networks, healthcare connected appliances, and financial institutions as a method for evading cyberattacks and meeting strict compliance guidelines. Wired IoT solutions do not suffer signal interference and information loss in packets like wireless networks and offer uninterrupted surveillance and performance.

Moreover, smart cities and energy domains have utilized fiber-optic networks to interlink IoT devices in mass volumes. The prevalence of AI-based IoT, edge computing, and big data analytics is another supporting force for wired networks as it supports real-time processes demanding high-speed data transfer.

Although wireless solutions are flexible, wired IoT is still prominent based on reliability in the longer term, security, and improved performance in mission-critical use cases. As organizations move towards hybrid networks for IoT, wired connectivity is still going to play a key role in offering mass-scale, high-security, and high-speed IoT implementations globally.

By Deployment Mode

On-premise deployment is projected to dominate the market for IoT as it provides improved control, increased security, and advantage in terms of data sovereignty. On-premise-based solutions are preferred in industries dealing in sensitive information such as BFSI, healthcare, and government organizations for providing complete control and network infrastructure ownership. On-premise deployment does not enable data to be hosted in third-party installations like in cloud-based solutions and thereby eliminates cyber threats and compliance issues.

Firms possessing advanced IoT networks such as smart factories, traffic intersections, and energy networks require real-time and low-latency processing and on-premise implementations can accomplish this effectively. On-premise architectures are preferable for edge computing, automated processes based on AI, and real-time analysis since they enable instant decision-making and lower network dependency. On-premise IoT is also preferred by leading enterprises since it makes them able to personalize infrastructure, streamline security processes, and include proprietary systems.

Moreover, organizations in highly regulated domains such as financial, defense, and mission-critical infrastructure use on-premise IoT for compliance with data security regulations (such as GDPR and HIPAA) to avoid sending confidential information to public clouds. The up-front and maintenance costs associated with on-premise solutions are balanced in the form of reliability in the longer term, lower latency, and secure information processing.

Even as cloud-based IoT is becoming highly popular for being economical and highly scalable, hybrid solutions blending on-premise and cloud-based implementations are being launched. Industries looking for security for their data, continuity in processes, and real-time execution will continue to prefer on-premise-based solutions for IoT, thereby ensuring they are in control in the market.

By Enterprise Type

Small and Medium-Sized Enterprises (SMEs) are anticipated to dominate the IoT market due to their rapid digital transformation, cost-effective IoT adoption, and increased need for operational efficiency. Unlike large enterprises with legacy infrastructure, SMEs are more agile in integrating IoT solutions, enabling real-time monitoring, automation, and data-driven decision-making across various business processes.

IoT adoption in SMEs is driven by cost-efficient cloud-based IoT solutions, pay-per-use plans, and cutting-edge cheap IoT sensors. SMEs apply IoT for inventory tracking, asset tracking, staff optimisation, and remote monitoring and thereby reduce costs and streamline productivity. Industry 4.0, automated processes driven by AI, and smart supply chains have driven SME adoption in manufacturing, retailing, healthcare, and logistics.

Furthermore, SME digitalization is being driven by government schemes and funds for SME digital transformation. Projects such as smart factory schemes, logistics solutions based on IoT, and security frameworks for IoT encourage SMEs towards implementing IoT for competitive advantage and company growth.

IoT adoption in SMEs is also shaping retailing, smart farming, and healthcare service businesses, in which efficiency is increased through remote sensing, predictive analytics, and automated processes. As solutions derived from IoT are becoming increasingly economical and scalable and available, SMEs will continue to require innovative applications for IoT, making them market leaders.

By Application

Asset management is anticipated to be at the forefront in application for IoT as it is instrumental in streamlining processes, reducing expenses, and making immediate decision-making across industry domains. Internet of things-based asset management solutions incorporate sensors, RFID tags, GPS, and cognitive analytics to enable real-time traceability, maintenance, and lifecycle improvement for assets. It makes it possible for businesses to monitor equipment health, inventory, and supply chain performance in real-time, and eliminates downtimes and interference in operations.

IoT-based asset management is accorded top priority in manufacturing, logistics, healthcare, and retail for improved efficiency in functioning and regulatory compliance. Fleet tracking and cold chain monitoring in supply chain and logistics based on IoT enhance visibility, lower risks related to theft, and provide ideal conditions for perishables. Similarly, in manufacturing, maintenance based on IoT cuts down unplanned downtimes and ensures improved productivity and lower maintenance costs.

IoT is being adopted in the financial sector, particularly in BFSI and insurance, for risk and fraud identification and surveillance of valuable assets and automated auditing. Municipal and government organizations use IoT-based asset management as a core element in smart cities for improved maintenance and garbage collection for public infrastructure.

With increased usage of 5G, AI, and blockchain, asset management is being secured, streamlined, and scaled up using IoT. The increased demand for real-time analytics, compliance tracking, and automation is complementing its leadership. In addition, mounting concerns about asset loss, counterfeits, and inefficiencies in processes are leading organizations to invest in advanced IoT-based asset management solutions, complementing its leadership in the application space for IoT.

By Industry Vertical

Banking, Financial Services, and Insurance (BFSI) is at the forefront in industry vertical for Internet of Things (IoT) as it is rapidly embracing connected solutions for security, anti-fraud, and efficient operations. The banking industry employs IoT for better customer experience, optimized use of assets, and improved risk analysis. Security solutions based on IoT such as biometrics-based authentication, network-based surveillance solutions, and tools for identification of fraud prevent cyber threats and unauthorized use and thereby are making IoT indispensable for BFSI.

IoT makes it possible to track valuable assets such as ATMs and cash-in-transit vehicles in real-time for security and smooth running. Predictive maintenance for banking networks, ATMs, and hardware reduces maintenance and downtimes. Insurance companies use IoT for usage-based insurance (UBI), risk monitoring, and claim settlement and offer better and efficient service to clients.

Growth in smart banking solutions, chatbots based on AI, and payment processes based on IoT is re-engineering customer engagement and making transactions smooth and secure. Blockchain-based solutions for IoT are providing another layer of security in the form of immutable digital history and decentralized identification frameworks.

Regulatory compliance is another key driver for uptake in BFSI. Auto-audits based on IoT, KYC (Know Your Customer) authentication, and real-time surveillance for transactions are some of the features that allow financial organizations to meet anti-money laundering (AML) and information security legislations.

With rising threats in the form of cyberattacks, BFSI organizations are investing heavily in threat intelligence and anti-fraud solutions based on IoT. The application of AI, machine learning, and edge computing in conjunction with IoT makes BFSI even more pervasive in providing real-time analytics, predicting identification of fraud, and smooth functioning, making it a leader in embracing IoT.

The Global Internet of Things (IoT) Market Report is segmented based on the following

By Component

• Hardware
• Sensors
• Actuators
• RFID Tags
• Smart Meters
• Connectivity Modules
• Others
• Software
• IoT Platform
• Data Management Software
• Security Software
• Device Management Software
• Analytics Software
• Services
• Consulting Services
• Managed Services
• Professional Services
• Integration & Deployment Services

By Connectivity Technology

• Wired
• Ethernet
• Fiber Optics
• Others
• Wireless
• Wi-Fi
• Bluetooth
• Zigbee
• LoRaWAN
• LPWAN (NB-IoT, LTE-M)
• 5G
• By Deployment Mode
• On-Premises
• Cloud-Based

By Enterprise Type

• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises

By Application

• Asset Management
• Supply Chain Management
• Business Process Optimization
• Workforce Management
• Emergency & Incident Management
• Other Applications

By Industry Vertical

• Banking, Financial Services and Insurance (BFSI)
• Retail
• Government
• Healthcare
• Manufacturing
• Agriculture
• Sustainable Energy
• Transportation
• IT & Telecom
• Others

Global Internet of Things (IoT) Market: Regional Analysis

Region with Highest Market Share in the Global IoT Market
North America is projected to lead in the global IoT market as it is poised to hold 37.7% of market revenue in 2025, thanks to early technology uptake, advanced digital infrastructure, and extensive IoT investments in different industry domains. The United States and Canada are at the forefront in smart manufacturing, healthcare IoT, connected vehicles, and smart cities, leading to market growth for IoT. The region boasts a rich ecosystem for cloud computing in top players like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud, supporting smooth IoT integration.

By Region

North America

• The U.S.
• Canada

Europe

• Germany
• The U.K.
• France
• Italy
• Russia
• Spain
• Benelux
• Nordic
• Rest of Europe

Asia-Pacific

• China
• Japan
• South Korea
• India
• ANZ
• ASEAN
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Argentina
• Colombia
• Rest of Latin America

Middle East & Africa

• Saudi Arabia
• UAE
• South Africa
• Israel
• Egypt
• Rest of MEA

Global Internet of Things (IoT) Market: Competitive Landscape

Recent Developments in Global Internet of Things (IoT) Market