PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1877353
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1877353
MarketsandMarkets: The IoT market is estimated to be worth USD 547.06 billion in 2025 and is projected to reach USD 865.20 billion by 2030, growing at a CAGR of 9.6%.
| Scope of the Report | |
|---|---|
| Years Considered for the Study | 2019-2030 |
| Base Year | 2024 |
| Forecast Period | 2025-2030 |
| Units Considered | USD Billion |
| Segments | By Module Type, Hardware, Connectivity, Software, Service, Focus Area, And Region |
| Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
Major technology companies, including Cisco, IBM, Microsoft, and AWS, are driving IoT innovation through robust platforms, cloud ecosystems, and AI-integrated solutions. These firms are enabling organizations to easily deploy, manage, and scale IoT applications across diverse environments. Cisco's IoT Control Center, Microsoft Azure IoT Hub, and IBM Watson IoT exemplify how enterprise-grade solutions simplify connectivity, enhance security, and deliver actionable intelligence.

By integrating IoT data with machine learning and analytics tools, these companies enable industries to gain deeper insights and enhance decision-making. Strategic partnerships among tech giants, telecom operators, and hardware vendors are further fostering interoperability and innovation. As a result, enterprises are empowered to adopt end-to-end IoT ecosystems that optimize operations, strengthen cybersecurity, and unlock new business models.
"The satellite connectivity segment will witness the highest growth during the forecast period."
Satellite IoT is gaining momentum in sectors such as agriculture, maritime, mining, and logistics, where terrestrial networks are unavailable or unreliable. The emergence of low-Earth orbit (LEO) satellite constellations has significantly improved bandwidth, latency, and affordability, making satellite IoT viable for large-scale deployment. Companies are leveraging satellite-based solutions for asset tracking, environmental monitoring, and disaster response applications. The integration of satellite networks with 5G and edge computing further enhances real-time data processing and global connectivity. As the need for continuous, borderless communication grows, satellite IoT will become an essential enabler of ubiquitous connectivity, driving rapid market expansion across industries and geographies.
"The Modules/Sensors segment is expected to have the largest market size during the forecast period."
Modules and sensors enable real-time data collection and monitoring across various applications, including smart cities, industrial automation, healthcare, and logistics. The proliferation of low-cost sensors and advancements in MEMS (Micro-Electro-Mechanical Systems) technology have accelerated the integration of sensors in both consumer and industrial devices. Connectivity modules, such as Bluetooth, Wi-Fi, and cellular support, enable seamless device communication across distributed networks. Sensors are also becoming increasingly intelligent, integrating with edge AI to analyze data locally and enhance decision-making efficiency. Additionally, the growing demand for environmental, motion, and temperature sensors in smart infrastructure and autonomous systems is fueling market expansion. With IoT deployments scaling globally, the modules and sensors segment remains central to enabling accurate, continuous data flow within interconnected systems.
"Asia Pacific is expected to record the highest growth rate during the forecast period."
The Internet of Things (IoT) market in the Asia Pacific region is witnessing rapid expansion, driven by large-scale digital transformation initiatives and government-backed smart infrastructure projects. Countries such as China, Japan, South Korea, and India are leading the regional growth due to strong industrial automation, increasing adoption of smart city solutions, and advancements in 5G connectivity. The region's manufacturing and transportation sectors are at the forefront of IoT deployment, using connected sensors and data analytics to enhance efficiency and reduce operational costs. Moreover, the growing demand for predictive maintenance and real-time monitoring across various industries is driving the acceleration of IoT adoption. Asia Pacific is projected to remain one of the fastest-growing IoT markets globally, supported by ongoing investments in edge computing and AI-integrated IoT ecosystems.
Breakdown of primaries
The major players in the IoT market include Microsoft (US), Amazon Web Services, Inc. (US), Huawei (China), Cisco (US), Intel (US), Qualcomm (US), Texas Instruments (US), Siemens (US), ABB (Switzerland), IBM (US), SAP (Germany), Hitachi (Japan), PTC (US), STMicroelectronics (ST) (Switzerland), NXP Semiconductors (Netherlands), HP (US), TE Connectivity (Switzerland), Advantech (Taiwan), Bosch (Germany) TDK Corporation (Japan), Omron Corporation (Japan), Honeywell (US), Oracle (US), Software AG (Germany), STC (Saudi Arabia), SAMSUNG (South Korea), Ericsson (Sweden), Avnet (US), Alibaba Cloud (China), HQSoftware (Estonia), Blues (US), Telit Cinterion (US), Particle (US), ClearBlade (Texas), Ayla Networks (US), Losant (Ohio), and emnify (Germany). These players have adopted various growth strategies, including partnerships, agreements, collaborations, new product launches, enhancements, and acquisitions, to expand their footprint in the IoT market.
Research Coverage
The market study encompasses the IoT market size and growth potential across various segments: hardware (modules/sensors, security hardware, other hardware), connectivity (cellular, LP-WAN, satellite, other connectivity), software (IoT platforms, application software, analytics software, security & safety software, other software), and service (professional services, managed services). The focus area segment includes smart transportation/mobility, smart buildings, smart energy & utilities, smart healthcare, smart agriculture, smart manufacturing, smart retail, and other focus areas. The regional analysis covers North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Key Benefits of Buying the Report
The report will help market leaders and new entrants with information on the closest approximations of the global IoT market's revenue numbers and subsegments. It will also help stakeholders understand the competitive landscape, gain valuable insights, and develop effective go-to-market strategies. Moreover, the report will provide stakeholders with insights into the market's pulse, offering them information on key market drivers, restraints, challenges, and opportunities.
The report provides the following insights.