Global Internet of Things (IoT) Connectivity Market Size study & Forecast, by Component (Platform and Solution & Services), by Deployment (On-Premise and Cloud), by Enterprise Type (SMEs and Large), by Industry (BFSI, Retail, Government, Healthcare, Manuf

The Global Internet of Things (IoT) Connectivity Market is valued at approximately USD 0.78 billion in 2024 and is anticipated to grow with a staggering CAGR of more than 32.81% over the forecast period 2025-2035. IoT connectivity refers to the ecosystem of technologies, platforms, and networks that enable seamless machine-to-machine communication, supporting the transfer of data between devices, systems, and applications. It forms the backbone of smart cities, industrial automation, digital healthcare, and next-generation consumer solutions. As industries and governments rush toward digitization, IoT connectivity has transformed from a supporting technology into a strategic enabler of operational efficiency, innovation, and new business models. The surging demand for real-time data insights, coupled with the proliferation of smart devices and high-speed networks, is catalyzing rapid adoption across the globe.

The acceleration of 5G deployments, edge computing adoption, and advancements in cloud-native architecture have propelled IoT connectivity into a new era. Enterprises are actively phasing out outdated, siloed systems in favor of agile, interoperable platforms that allow data exchange across heterogeneous networks. According to industry data, the number of IoT-connected devices is forecasted to surpass 30 billion globally by 2030, showcasing the scale of opportunity. Nevertheless, challenges such as security vulnerabilities, data governance complexities, and high integration costs pose barriers that companies must overcome. At the same time, evolving global standards and increased investment in cybersecurity are likely to mitigate these challenges, creating fertile ground for long-term growth.

The detailed segments and sub-segments included in the report are:

By Component:
• Platform
• Solution & Services

By Deployment:
• On-Premise
• Cloud

By Enterprise Type:
• SMEs
• Large

By Industry:
• BFSI
• Retail
• Government
• Healthcare
• Manufacturing
• Agriculture
• Sustainable Energy
• Transportation
• IT & Telecom
• Others

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC

Latin America
• Brazil
• Mexico

Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Cloud deployment is expected to dominate the IoT connectivity market throughout the forecast horizon, largely due to its ability to scale with the exponential growth of connected devices and its capacity to integrate vast ecosystems with minimal latency. Cloud platforms also allow enterprises to dynamically update applications, manage devices remotely, and enhance security protocols. As organizations pursue global expansion and complex data flows, cloud deployment has proven to be indispensable, enabling businesses to handle massive volumes of real-time IoT data with efficiency and resilience.

Large enterprises currently hold the largest share of revenue in the IoT connectivity market, as they leverage advanced platforms to optimize industrial operations, supply chains, and customer engagement strategies. These organizations are also at the forefront of adopting AI-driven IoT analytics and investing heavily in cybersecurity frameworks to protect mission-critical data. Conversely, SMEs are anticipated to be the fastest-growing segment, benefitting from the affordability of subscription-based models and increasing awareness of the competitive advantages IoT adoption can bring. While large enterprises lead in revenue today, SMEs are positioned to shape the next phase of growth through their agility and rapid digital adoption.

The key regions considered for the Global Internet of Things (IoT) Connectivity Market study include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominated the market in 2024, driven by a mature digital infrastructure, significant 5G rollouts, and early adoption of IoT in industries such as healthcare, manufacturing, and energy. Europe follows closely, supported by regulatory mandates for digital transformation, strong government investment in smart infrastructure, and advancements in Industry 4.0 adoption. Asia Pacific, however, is projected to be the fastest-growing region, propelled by rapid urbanization, increasing demand for connected solutions in China and India, and government initiatives focused on smart cities and agricultural modernization. Latin America and the Middle East are also gaining traction, particularly in sectors like sustainable energy and transportation, as connectivity solutions unlock efficiency and innovation.

Major market players included in this report are:
• Cisco Systems, Inc.
• Huawei Technologies Co., Ltd.
• AT&T Inc.
• Ericsson AB
• Nokia Corporation
• Vodafone Group Plc
• Intel Corporation
• Qualcomm Technologies, Inc.
• Telefonica S.A.
• Orange S.A.
• Amazon Web Services, Inc.
• Microsoft Corporation
• Sierra Wireless, Inc.
• Thales Group
• Arm Holdings Plc

Global Internet of Things (IoT) Connectivity Market Report Scope:
• Historical Data – 2023, 2024
• Base Year for Estimation – 2024
• Forecast period - 2025-2035
• Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below:

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of the geographical landscape with country-level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of the competitive structure of the market.
• Demand side and supply side analysis of the market.

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