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PUBLISHER: Analysys Mason | PRODUCT CODE: 1462339

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PUBLISHER: Analysys Mason | PRODUCT CODE: 1462339

IoT Forecast: Connections, Revenue and Technology Trends 2023-2032

PAGES: 17 Slides
DELIVERY TIME: 1-2 business days
PPTX, PDF and Excel (Single User License)
USD 7999

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"China will drive the growth in the number of wireless IoT connections worldwide, which will pass 7 billion by 2032."

The total number of wireless IoT connections worldwide will increase from 2.9 billion at the end of 2022 to 7.3 billion in 2032. The worldwide growth rate (excluding China) will continue to be in the double digits throughout the forecast period, driven by increasing adoption in the automotive, utilities and smart buildings sectors.

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, split by application
  • an overview of the key industry sectors for IoT and their share of IoT connections and revenue
  • data on the IoT revenue generated worldwide from hardware, applications and connectivity services.


Geographical coverageKey metrics

Regions modelled

  • Central and Eastern Europe (CEE)
  • China
  • 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:
    • applications
    • connectivity services
    • IoT hardware
  • IoT connections worldwide and by region, by technology type:
    • 2G
    • 3G/4G
    • 5G
    • NB-IoT
    • LTE-M
    • 'other LPWA'
  • Connections and revenue, by sector:
    • automotive
    • finance
    • health
    • industries
    • smart cities
    • retail
    • smart buildings
    • utilities
    • agriculture
    • tracking

About the authors:

Mary Saunders, Research Analyst.

Mary is a Research Analyst based in the London office. She has a BSc in human sciences from University College London (UCL). Her final year research project used qualitative and quantitative data to study how socioeconomic inequality affects the progression of tuberculosis.

Ibraheem Kasujee, Senior Analyst.

Ibraheem is a member of the Operator Business Services and IoT research team in London, and leads the IoT Services and Private Networks research programmes. He has written on topics including private LTE/5G networks, IoT eSIMs and iSIMs and LPWA networks, and has conducted research on IoT verticals such as smart metering and smart buildings. Ibraheem holds a BSc in economics from the University of Warwick, and wrote his dissertation on the impact of technology on sleep.

Have a question?

Jeroen Van Heghe

Manager - EMEA



Christine Sirois

Manager - Americas


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