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How does the forecasted CAGR of the iot industry compare to other sectors?
The IoT market size has grown rapidly in recent years. It will grow from $535.97 billion in 2024 to $629.5 billion in 2025 at a compound annual growth rate (CAGR) of 17.5%. The growth in the historic period can be attributed to proliferation of connected devices, data analytics and insights, industrial automation, smart cities initiatives, healthcare transformation.
The IoT market size is expected to see exponential growth in the next few years. It will grow to $1520.12 billion in 2029 at a compound annual growth rate (CAGR) of 24.7%. The growth in the forecast period can be attributed to 5g network rollout, edge computing adoption, expansion in industrial IoT (iIoT), smart home and consumer IoT, focus on sustainability and energy efficiency. Major trends in the forecast period include blockchain for data integrity, interoperability standards, edge ai and inference, focus on sustainable IoT solutions, healthcare IoT growth.
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https://www.thebusinessresearchcompany.com/sample.aspx?id=3185&type=smpWhat market trends are acting as primary growth drivers for the iot sector?
The application of IoT in various industries such as automotive industry is driving the growth of the IoT market. The introduction of IoT in the automotive industry has opened up new opportunities for carmakers and consumers worldwide. IoT has become a popular hotspot for varied multifunctional applications in the automotive sector. IoT offers enhanced communication, control and data delivery at any transportation point. Major companies like Mercedes-Benz, Volkswagen, Volvo, Toyota and Google Inc. are increasingly investing in developing smart cars with rich features that offer healthier, more convenient and more enjoyable driving experiences. According to UBS, 12% of the total cars sold in 2030 will be for autonomous taxi fleets with 26 million driverless taxis in operation worldwide, approximately.
What are the fastest-growing segments in the iot market forecast period?
The IoT market covered in this report is segmented –
1) By Platform: Device Management, Application Management, Network Management
2) By Application: Building And Home Automation, Smart Energy And Utilities, Smart Manufacturing, Connected Logistics, Smart Retail, Smart Mobility And Transportation, Other Applications
3) By End Use Industry: Banking, Financial Services, And Insurance (BFSI), Retail, Government, Healthcare, Manufacturing, Transportation, IT And Telecom, Other End-User Industries
Subsegments:
1) By Device Management: Device Provisioning, Device Configuration, Device Monitoring, Firmware Management
2) By Application Development: Application Development Platforms, Application Deployment, Application Integration, Application Analytics
3) By Network Management: Connectivity Management, Network Monitoring, Network Security, Data Management And Analytics
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https://www.thebusinessresearchcompany.com/report/iot-global-market-reportWhat are the top market trends driving innovation in the iot industry?
Major companies operating in the multifamily housing green buildings sector are innovating advanced technologies, such as green transformation (GX), to enhance sustainability, energy efficiency, and environmental performance in residential developments. Green transformation (GX) refers to the process of adopting sustainable practices, technologies, and innovations to minimize environmental impact and promote energy efficiency. For instance, in September 2024, Hitachi Ltd., a Japan-based multinational conglomerate company launched a new model BuilMirai Building IoT solution. The BuilMirai Building IoT solution is a comprehensive platform aimed at enhancing the management and operational efficiency of small and medium-sized buildings. The solution emphasizes green building practices, aligning with global trends toward sustainability in construction and management. The company will provide these solutions through monthly subscription plans, allowing customers to choose services as needed, which lowers their investment costs and promotes green transformation (GX) and digital transformation (DX) for small and medium-sized buildings. BuilMirai connects various building facilities and systems, facilitating improved management and operational efficiency.
Which major players hold significant market share in the iot sector?
Major companies operating in the IoT market include Google Inc., Microsoft Corporation, AT&T Inc., Dell Inc., Huawei Technologies Co. Ltd., Hitachi DataSystems Corporation, Amazon WebServices Inc., General Electric Company, Intel Corporation, International Business Machine Corporation, CiscoSystems Inc., Oracle Corporation, SAP SE, Fujitsu Ltd., Hewlett-Packard Enterprise Company, Bosch Software Innovation GmbH, Accenture plc, PTC Inc., Davra Networks Limited, Cumulocity GmbH, BlackBerry Limited, C3 IoT Inc., Exosite LLC, Device Insight GmbH, Concirrus Limited, EVRYTHNG Limited, Bright Wolf LLC, Connio Inc
Which regional segments are forecasted to witness the fastest growth in the iot market?
Asia-Pacific was the largest region in the IoT market in 2024. North America was the second largest region in the global IoT market share. The regions covered in the IoT market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Can Companies Use The IoT Market Report to Drive Business Results?
This report provides actionable insights tailored for business use—not academic analysis. Companies can leverage the data to:
• Time market entry or expansion using growth forecasts and CAGR trends.
• Develop competitive products by tracking key technology shifts and user preferences.
• Tailor regional strategies with in-depth geographic data and local market dynamics.
• Benchmark and plan partnerships using competitive landscape insights.
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