IoT Forecast: Revenue, Connections and Technology Trends 2025-2034

"The number of IoT connections worldwide will surpass 8.4 billion by 2034, and China will account for around two thirds of this figure."

This report provides an outlook on the IoT market worldwide between 2025 and 2034. It looks at global trends affecting IoT revenue and the number of connections, as well as trends in connectivity technologies and the sectors driving growth.

This report provides:

• 10-year forecasts for the number of IoT connections and revenue, split by sector
• analysis of the revenue generated worldwide from hardware, applications and connectivity services
• analysys of the share of connections and revenue from high-bandwidth and low-bandwidth applications, and information about the key industry sectors that support each segment
• 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
• analysis of regional trends in IoT connections and revenue.

Coverage

Geographical coverage

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)

Key metrics

• Revenue for the following value chain elements:
  • applications
  • connectivity
  • 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:
  • agriculture
  • automotive
  • health
  • industrial
  • retail
  • smart buildings
  • smart cities
  • tracking
  • utilities