IoT Forecast: Connections, Revenue and Technology Trends 2022-2031

"The expected growth rate in the number of IoT connections worldwide is lower than in our previous forecast because chipset shortages and supply-chain issues continued in 2022."

The total number of IoT connections worldwide will increase from 2.2 billion at the end of 2021 to 7.0 billion in 2031. The knock-on effects of the COVID-19 pandemic continue to disrupt the IoT market, but connections growth will continue to be in the double digits for most of the forecast period.

This report provides:

• 10-year forecasts for the number of IoT connections and revenue, split by sector

• analysis of technology trends including the number of 2G, 3G/4G, 5G, NB-IoT, LTE-M and 'other LPWA' connections and connectivity service revenue worldwide by application

• an overview of the key industry sectors for IoT and their share of IoT connections and revenue

• discussion about the longer-term impacts of the COVID-19 pandemic and which sectors are affected

• data on the IoT revenue generated worldwide from hardware, applications and connectivity services.

COVERAGE: