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Global IoT Market Size, Share, Trends, Analysis, Forecast: By Component: Devices, Connectivity, IT Services, Platforms; By Application: Consumer Electronics, Retail, Manufacturing, Healthcare, Transportation, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
IoT Market Analysis
The Internet of Things (IoT) market has been growing rapidly worldwide, with billions of devices already connected and more being added every year. Factors driving this growth include advancements in wireless networking technologies, the decrease in the cost of IoT sensors, and the increasing adoption of cloud platforms.
IoT devices are designed to connect to the internet or other communication networks, allowing them to send and receive data. This connectivity enables remote monitoring, control, and automation of various processes. IoT is expected to continue growing and evolving, with advancements in edge computing, 5G connectivity, artificial intelligence (AI), and machine learning playing significant roles.
IoT Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global IoT Market Analysis
8.1 Key Industry Highlights
8.2 Global IoT Historical Market (2018-2023)
8.3 Global IoT Market Forecast (2024-2032)
8.4 Global IoT Market by Component
8.4.1 Devices
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Connectivity
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 IT Services
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Platforms
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.5 Global IoT Market by Application
8.5.1 Consumer Electronics
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Retail
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Manufacturing
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Healthcare
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Transportation
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global IoT Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America IoT Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe IoT Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific IoT Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America IoT Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa IoT Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Accenture
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Amazon Web Services, Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Cisco Systems, Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Huawei Technologies Co., Ltd.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Alphabet Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 IBM Corporation
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Hewlett Packard Enterprise Development LP
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global IoT Market: Key Industry Highlights, 2018 and 2032
2. Global IoT Historical Market: Breakup by Component (USD Trillion), 2018-2023
3. Global IoT Market Forecast: Breakup by Component (USD Trillion), 2024-2032
4. Global IoT Historical Market: Breakup by Application (USD Trillion), 2018-2023
5. Global IoT Market Forecast: Breakup by Application (USD Trillion), 2024-2032
6. Global IoT Historical Market: Breakup by Region (USD Trillion), 2018-2023
7. Global IoT Market Forecast: Breakup by Region (USD Trillion), 2024-2032
8. North America IoT Historical Market: Breakup by Country (USD Trillion), 2018-2023
9. North America IoT Market Forecast: Breakup by Country (USD Trillion), 2024-2032
10. Europe IoT Historical Market: Breakup by Country (USD Trillion), 2018-2023
11. Europe IoT Market Forecast: Breakup by Country (USD Trillion), 2024-2032
12. Asia Pacific IoT Historical Market: Breakup by Country (USD Trillion), 2018-2023
13. Asia Pacific IoT Market Forecast: Breakup by Country (USD Trillion), 2024-2032
14. Latin America IoT Historical Market: Breakup by Country (USD Trillion), 2018-2023
15. Latin America IoT Market Forecast: Breakup by Country (USD Trillion), 2024-2032
16. Middle East and Africa IoT Historical Market: Breakup by Country (USD Trillion), 2018-2023
17. Middle East and Africa IoT Market Forecast: Breakup by Country (USD Trillion), 2024-2032
18. Global IoT Market Structure
Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 2.18 trillion.
The market is projected to grow at a CAGR of 15.9% in the forecast period of 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 8.20 trillion by 2032.
The major market drivers include technological innovations and the growing adoption of cloud data management.
The growing applications of IoT in retail management and the rising demand for cost reduction and eliminating human error in retail processes are the key trends guiding the market growth.
The major regional markets for IoT are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
Devices, connectivity, IT services, and platforms are the major components of IoT in the market.
The significant application segments of IoT are consumer electronics, retail, manufacturing, healthcare, and transportation, among others.
The major players in the market are Accenture, Amazon Web Services Inc, Cisco Systems Inc., Huawei technologies Co., Ltd, Alphabet Inc, IBM corporation, and Hewlett Packard Enterprise Development LP, among others.
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