Internet of Things (IoT) Connectivity

Global Internet of Things (IoT) Connectivity Market to Reach US$38.8 Billion by 2030

The global market for Internet of Things (IoT) Connectivity estimated at US$13.9 Billion in the year 2024, is expected to reach US$38.8 Billion by 2030, growing at a CAGR of 18.6% over the analysis period 2024-2030. Platform, one of the segments analyzed in the report, is expected to record a 19.1% CAGR and reach US$27.1 Billion by the end of the analysis period. Growth in the Services segment is estimated at 17.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$3.9 Billion While China is Forecast to Grow at 17.6% CAGR

The Internet of Things (IoT) Connectivity market in the U.S. is estimated at US$3.9 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.8 Billion by the year 2030 trailing a CAGR of 17.6% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 16.6% and 15.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 13.6% CAGR.

Global Internet of Things (IoT) Connectivity Market - Key Trends and Drivers Summarized

Why Is Internet of Things (IoT) Connectivity Critical for the Future of Smart Devices?

The Internet of Things (IoT) connectivity plays a crucial role in linking billions of smart devices, enabling seamless communication, data exchange, and automation across different networks. IoT connectivity encompasses a wide range of communication technologies, such as Wi-Fi, Bluetooth, Zigbee, LPWAN (Low Power Wide Area Network), and cellular networks like 4G, 5G, and Narrowband IoT (NB-IoT). These technologies are designed to support various use cases, from consumer smart homes and wearable devices to large-scale industrial systems and smart cities. Reliable and efficient connectivity is essential to ensure that IoT devices can exchange data in real-time, monitor systems remotely, and enable automation, making it a foundational component for a wide array of industries, including manufacturing, healthcare, logistics, and agriculture.

How Are Technological Advancements Shaping the IoT Connectivity Market?

Technological innovations, especially in 5G and LPWAN, are driving significant advancements in IoT connectivity. 5G technology is a game-changer for IoT, offering ultra-low latency, high-speed data transfer, and the capacity to support millions of devices within a small geographic area. This is particularly important for applications requiring real-time data processing, such as autonomous vehicles, smart factories, and telemedicine. LPWAN technologies, including LoRaWAN and NB-IoT, are expanding the reach of IoT connectivity in remote and rural areas where traditional cellular networks are not feasible. These technologies allow IoT devices to operate on low power for extended periods, enabling long-term monitoring in applications like agriculture and environmental management. The integration of edge computing with IoT connectivity is also emerging, providing real-time data processing closer to the source and reducing the dependency on cloud computing.

How Do Market Segments Define the Growth of the IoT Connectivity Market?

Connectivity technologies include cellular, Wi-Fi, Bluetooth, Zigbee, and LPWAN, with LPWAN gaining traction due to its ability to support long-range communication with low power consumption. Applications span across consumer electronics, automotive, healthcare, and industrial automation, with industrial automation representing the fastest-growing segment as manufacturers increasingly rely on IoT to optimize operations and reduce downtime. End-user industries include manufacturing, healthcare, energy, agriculture, and logistics, with smart cities and transportation also emerging as significant areas of growth. The adoption of IoT connectivity is accelerating in regions such as North America, Europe, and Asia-Pacific, where smart infrastructure projects and industrial digitalization are key drivers.

What Factors Are Driving the Growth in the IoT Connectivity Market?

The growth in the IoT connectivity market is driven by several factors, including the increasing number of connected devices, the deployment of 5G networks, and the demand for real-time data monitoring and automation. As IoT applications become more complex and widespread, reliable connectivity solutions are essential for managing large networks of devices and ensuring seamless communication. The rollout of 5G is accelerating this growth by providing higher bandwidth and lower latency, enabling advanced applications like smart cities, autonomous vehicles, and industrial IoT. Additionally, the growing trend of remote monitoring and management, particularly in sectors like healthcare and manufacturing, is fueling the demand for robust and scalable connectivity solutions.

SCOPE OF STUDY:

The report analyzes the Internet of Things (IoT) Connectivity market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Component (Platform, Services); Application (Building & Home Automation, Smart Transportation, Smart Grid & Utilities, Smart Manufacturing, Connected Health, Other Applications)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Select Competitors (Total 167 Featured) -

• AT&T
• Aeris
• Cisco Jasper
• Emnify
• Ericsson
• Hologram
• Huawei
• Moeco
• Orange Business Services
• Particle
• Sierra Wireless
• Sigfox
• Telefónica
• Telit
• Verizon Enterprise Solutions
• Vodafone

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

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APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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