Internet Of Things (IoT) - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)

Internet Of Things (IoT) Market Analysis

The internet of things market stands at USD 1,350 billion in 2025 and is forecast to reach USD 2,720 billion by 2030, advancing at a 15.04% CAGR. Strong demand for real-time analytics, predictive maintenance, and autonomous decision systems is accelerating deployments across factories, farms, and logistics hubs. Rapid 5G roll-outs, growth of low-power wide-area networks, and falling sensor costs expand the addressable base of connected assets. Enterprises also value edge AI because it protects data sovereignty while guaranteeing millisecond response times. As a result, investment continues to shift from pilot projects to full-scale production across every major vertical. The Internet of Things market, therefore, continues to compound on a solid technology foundation supported by resilient capital spending and regulatory incentives aimed at efficiency and sustainability.

Global Internet Of Things (IoT) Market Trends and Insights

Connected-device proliferation and falling sensor costs

Unit prices for basic environmental sensors have declined from USD 20 to below USD 5, making dense instrumentation economically viable across factories and farms. Industrial-grade vibration sensors used in predictive maintenance now retail for USD 50-100 compared with USD 200-500 only five years ago. Lower hardware barriers attract new software integrators, broadening the Internet of Things market talent pool. BMW’s private 5G production network already links thousands of sensors to edge controllers that optimize throughput in real time. Temporary semiconductor shortages create cost pressure, yet design innovations that reduce component counts preserve downward price momentum. As firms connect ever-smaller assets, data volumes rise sharply, cementing analytics services as the fastest-growing revenue pool.

5G and LPWAN roll-outs widen coverage

Private 5G now underpins ultra-low-latency industrial control, demonstrated by John Deere’s Waterloo Works where flexible manufacturing lines rely on wire-free reconfiguration. LoRaWAN and NB-IoT networks complement 5G by linking remote fields, mines, and pipelines where cellular economics still lag. Kinéis and other nanosatellite operators bridge remaining gaps, enabling continuous visibility of livestock herds and maritime assets. Telecom operators coordinate spectrum and backhaul investments to match device density with viable returns. These converging access options keep the internet of things market on an inclusive path that spans both dense urban campuses and sparsely populated frontiers.

Escalating cybersecurity and privacy breaches

Connected assets expand the attack surface, with ransomware already halting factory lines and exposing proprietary recipes. The EU Cyber Resilience Act sets minimum encryption and patching obligations, forcing vendors to absorb higher compliance costs. Industrial buyers increasingly request secure-boot chipsets and zero-trust architectures, raising barriers for low-cost suppliers. Breach headlines could momentarily slow adoption, yet long-term security spending often translates into higher total contract values within the internet of things market.

Other drivers and restraints analyzed in the detailed report include:

1. Edge-AI analytics enable real-time value
2. LEO-satellite IoT unlocks remote monitoring
3. Protocol fragmentation and poor interoperability

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Services contributed 34% of 2024 revenue, underscoring the complexity of turning devices and data into measurable outcomes. Consulting teams map workflows, build secure architectures, and optimize dashboards that convert sensor streams into operational value. Hardware prices keep falling, yet integration demands elevate specialist labor rates, cementing services as the largest slice of the internet of things market. Edge platforms that blend container orchestration with OTA patching expand at 17.51% CAGR as buyers insist latency and data governance stay onsite. Connectivity modules absorb cost deflation, widening profit margins for solution assemblers who resell capacity across thousands of endpoints.

The push toward flexible infrastructure drives hybrid topologies where gateway agents decide what stays local and what travels to the cloud. Such orchestration intensifies demand for API harmonization between hyperscale clouds and factory floor controllers. Software vendors embed auto-ML engines that fine-tune models continuously, reinforcing subscriptions that lock customers into ecosystems. Meanwhile, satellite operators partner with terrestrial carriers to bundle fallback connectivity, broadening geographic applicability of the internet of things market. Vendors that package hardware, integration, and lifecycle management under outcome-based contracts are capturing share from component-centric rivals.

Manufacturing held 29.5% of 2024 spending as factories rely on predictive maintenance, robot coordination, and supply-chain transparency to safeguard uptime. Siemens reports record digital industries orders tied to brown-field retrofits that network legacy machines.Automotive plants deploy thousands of torque and vibration sensors, feeding edge AI that quarantines anomalies before they trigger costly downtime. Environmental, health, and safety dashboards gain prominence as regulators tighten emission audits. Consequently, the Internet of Things market size for industrial plants is expected to expand steadily despite macro headwinds.

Agriculture, by contrast, grows fastest at a 19.2% CAGR. Soil probes, drone imagery, and satellite links allow farmers to adjust fertilizer and irrigation in near real time, lowering input costs per hectare. Start-ups bundle sensors, analytics, and credit services into subscription models affordable to mid-sized holdings. Livestock ranchers fit collars that monitor temperature, rumination, and location, trimming disease outbreaks and predation losses. As public agencies push food security, grant funding accelerates connected-farm adoption, broadening the Internet of Things industry customer base beyond early adopters.

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

Geography Analysis

North America owned 32.3% of 2024 revenue, anchored by mature 5G roll-outs, wide adoption of private cellular licenses, and a robust digital-native workforce. Industrial facilities from automotive to food processing routinely pilot spectrum-sharing networks that stream high-fidelity data to edge AI controllers.Policy frameworks prioritize innovation yet codify minimum security standards, promoting trust without stifling experimentation. Consequently, the Internet of Things market continues to see steady capital allocations even when macro conditions fluctuate.

Asia-Pacific is projected to grow at 15.1% CAGR through 2030 as governments embed IoT into manufacturing subsidies and smart-city blueprints. Licensed cellular connections are set to reach 270 million by 2030 across India, China, and Southeast Asia. China accelerates domestic chip foundry investments to buffer export control uncertainties, while India leverages production-linked incentives to attract sensor assembly plants. Start-ups in Vietnam and Indonesia integrate LPWAN gateways with cloud dashboards, bringing mid-tier factories online at low cost. Together, these trends expand the Internet of Things market size across a demographically diverse region.

Europe emphasizes environmental compliance, making sensor-driven emissions tracking integral to corporate reporting. Edge deployments rise because privacy regulations encourage onsite processing. Public-private consortia finance smart port logistics and cross-border freight transparency systems. Middle East and Africa remain earlier in the adoption curve but leapfrog with satellite-enabled livestock monitoring and solar-powered water management. International development agencies fund pilot projects that demonstrate quick payback, nurturing localized expertise and widening the internet of things market footprint.

List of Companies Covered in this Report:

1. Amazon Web Services
2. Microsoft Corporation
3. Google LLC
4. Cisco Systems
5. Huawei Technologies
6. Siemens AG
7. IBM Corporation
8. PTC Inc.
9. Robert Bosch GmbH
10. Honeywell International
11. Oracle Corporation
12. SAP SE
13. AT&T
14. Aeris Communications
15. Fujitsu
16. Wipro
17. Intel Corporation
18. Ericsson
19. Qualcomm
20. Advantech
21. Sierra Wireless (Semtech)
22. Quectel Wireless
23. Telit Cinterion
24. u-blox

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support