Internet of Things Market Size

The current landscape of the Internet of Things Market shows growing momentum as organizations worldwide accelerate digital transformation, embedding sensors, connected devices, and intelligent systems across operations, infrastructure, and services. According to MarketsandMarkets, the Internet of Things market size is forecast to expand significantly by the end of the analysis period — reflecting strong demand for scalable, connected, and data-driven solutions. 

This growth is driven by multiple factors including rising adoption of connected devices, expansion of high-speed and low-power connectivity networks, and increasing demand for real-time analytics, automation, and device management platforms.

Internet of Things Market Size

The Internet of Things Market Size is projected to grow from USD 547.06 billion in 2025 to USD 865.20 billion by 2030 at a CAGR of 9.6% during the forecast period.

 Growth Drivers

• Proliferation of connected devices and sensors — as enterprises and public-sector entities digitize assets, demand for IoT hardware (modules, sensors, secure devices) escalates, boosting the Internet of Things market growth.
• Advances in connectivity technologies — emergence of LPWAN (e.g. NB-IoT, LTE-M, LoRa), cellular networks, and expanding 5G enable broader, cost-efficient, long-range IoT deployments.
• Need for device management, security and analytics — with large IoT ecosystems, organizations demand unified IoT platforms for lifecycle management, over-the-air updates, zero-trust security, edge-to-cloud orchestration, and analytics-driven insights.
• Digital transformation across industries — sectors such as manufacturing, utilities, healthcare, mobility, smart cities, retail and more are increasingly adopting IoT to improve efficiency, automation, remote monitoring, and operational intelligence.

Thus, the anticipated uptrend in Internet of Things market size is undergirded by a convergence of technological readiness, demand for efficiency, and a shift toward connected infrastructure and services.

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

Applications & Use Cases

The breadth of applications contributing to the Internet of Things market includes:

• Smart Manufacturing / Industrial IoT (IIoT): Real-time monitoring, predictive maintenance, production optimization, process automation and operational efficiency.
• Smart Cities & Infrastructure: IoT deployments across utilities, public services, urban infrastructure, mobility systems, environmental monitoring — enabling smarter urban management and sustainable infrastructure.
• Smart Energy & Utilities: Remote monitoring and control of energy systems, smart grids, resource optimization, and efficient utility management via IoT sensors and connectivity.
• Healthcare & Remote Monitoring: Use of connected devices, sensors, platforms for health monitoring, tele-health, asset tracking, and improved patient / facility management.
• Smart Buildings / Smart Retail / Smart Mobility: Integration of IoT in buildings for automation, security, environment control; retail for supply-chain, inventory & consumer engagement; mobility for connected transport and logistics.

These wide-ranging applications reflect why the Internet of Things market is broad, cross-sectoral, and rapidly evolving.

Key Enabling Technologies

As identified in the report, the technologies fueling the Internet of Things market include:

• Low-power sensors, modules & secure hardware components — facilitating widespread, efficient, and secure device deployment.
• LPWAN, cellular IoT (NB-IoT, LTE-M, etc.), hybrid connectivity and emerging 5G networks — enabling reliable connectivity across use cases ranging from urban to remote environments.
• Cloud-native and edge-to-cloud orchestration platforms / IoT platforms & software suites — managing device lifecycle, connectivity, data ingestion, analytics, security, and management at scale.
• Real-time analytics, AI/ML-driven data processing & automation engines — converting raw sensor data into actionable insights, enabling predictive maintenance, intelligent automation, anomaly detection, and adaptive operations.
• Security and privacy infrastructure — secure boot, encryption, device authentication, zero-trust frameworks — ensuring data integrity, confidentiality, compliance and trust across IoT ecosystems.

These technological building blocks are central to enabling the expansion and reliability of the Internet of Things market globally.

Related Reports:

IoT Market by Module Type (Hardware, Connectivity, Software, Services), Focus Areas (Smart Manufacturing, Smart Transportation/Mobility, Smart Energy & Utilities, Smart Healthcare, Smart Buildings, Smart Retail) and Region - Global Forecast to 2030

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