"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.
|Geographical coverage||Key metrics
- Central and Eastern Europe (CEE)
- Developed Asia-Pacific (DVAP)
- Emerging Asia-Pacific excluding China (EMAP)
- Latin America (LATAM)
- Middle East and North Africa (MENA)
- North America (NA)
- Sub-Saharan Africa (SSA)
- Western Europe (WE)
- Revenue for the following value chain elements:
- connectivity services
- IoT hardware
- IoT connections worldwide and by region, by technology type:
- 'other LPWA'
- Connections and revenue, by sector:
- smart cities
- smart buildings