Canada IoT Market (2025-2030)

This research study extensively utilized secondary sources, directories, and databases, including Dun & Bradstreet (D&B), Hoovers, and Bloomberg Businessweek, to identify and collect information relevant to a technical, market-oriented, and commercial study of the IoT market. The primary sources have primarily consisted of industry experts from core and related industries, as well as preferred suppliers, manufacturers, distributors, service providers, technology developers, alliances, and organizations related to all segments of the value chain of this market. In-depth interviews have been conducted with various primary respondents, including key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information.

Secondary Research

The market size of companies offering IoT worldwide was arrived at based on secondary data available through paid and unpaid sources. It was also arrived at by analyzing the product portfolio of major companies and rating them based on their performance and quality. In the secondary research process, various secondary sources were referred to identify and collect information for the study. The secondary sources included annual reports, press releases, and investor presentations of companies; white papers, journals, and certified publications; and articles from recognized authors, directories, and databases.

Secondary research was mainly used to obtain key information about the industry’s value chain and supply chain and to identify key players through various solutions and services, market classification and segmentation according to offerings of major players, industry trends related to technologies, applications, and regions, and key developments from both market-oriented and technology-oriented perspectives.

Primary Research

During the primary research process, various primary sources from both the supply and demand sides were interviewed to gather qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, including Chief Experience Officers (CXOs); Vice Presidents (VPs); directors from business development, marketing, and product development/innovation teams, related key executives from IoT solution vendors, professional service providers, and industry associations, and key opinion leaders.

Primary interviews were conducted to gather insights, including market statistics, revenue data collected from solutions and services, market segmentations, market size estimations, market forecasts, and data triangulation. Primary research also helped in understanding various trends related to technologies, applications, deployments, and regions. Stakeholders from the demand side, such as Chief Information Officers (CIOs), Chief Technology Officers (CTOs), Chief Strategy Officers (CSOs), and end users using IoT solutions, were interviewed to understand the buyer’s perspective on suppliers, products, service providers, and their current usage of IoT solutions, which would impact the overall IoT market.

*Others include sales managers, marketing managers, and product managers.
Note: Tier 1 companies’ revenue is more than USD 1 billion; Tier 2 companies’ revenue ranges between USD 500 million to 1 billion; and Tier 3
companies’ revenue ranges between USD 100 million and USD 500 million

To know about the assumptions considered for the study, download the pdf brochure

Internet of Things Market Size Estimation

Multiple approaches were adopted to estimate and forecast the size of the IoT market. The first approach involves estimating market size by summing up the revenue generated by companies through the sale of IoT solutions.

Top-down and bottom-up approaches were used to estimate and validate the total size of the IoT market. These methods were also extensively used to estimate the size of various market segments. The research methodology used to evaluate the market size is listed below.

• Key players in the market have been identified through extensive secondary research.
• In terms of value, the industry’s supply chain and market size have been determined through a combination of primary and secondary research processes.
• All percentage shares, splits, and breakups have been determined using secondary sources and verified through primary sources.

IoT Market : Top-Down and Bottom-Up Approach

Data Triangulation

After determining the overall market size, the IoT market was segmented into several categories and subcategories. A data triangulation procedure was employed to complete the overall market engineering process and derive the exact statistics for all segments and subsegments, as applicable. The data was triangulated by studying various factors and trends from the demand and supply sides. In addition to data triangulation and market breakdown, the market size was validated using both top-down and bottom-up approaches.