Summary

The IoT market was valued at $1,425.58 billion in 2024 and is estimated to reach $5,372.46 billion by 2034, exhibiting a CAGR of 14.1% from 2025 to 2034.
Internet of Things (IoT) describes the network of physical objects that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet. These devices range from ordinary household objects to sophisticated industrial tools. Over the past few years, IoT has become one of the most important technologies of the globe. IoT devices share data that is collected by IoT sensors or other edge devices where data is sent to the cloud server to be analyzed. These devices further communicate with other related devices and act on the information they get from one another. The devices do most of the work without human intervention, although people can interact with the devices. 
The growth of the IoT market is majorly driven by development of wireless networking technologies, increase in cloud platform adoption, and advent of advanced data analytics & data processing drives. However, data security & privacy concerns and high implementation & maintenance cost of IoT devices restrain the growth of the market globally. On the contrary, reduction in cost of connected devices and IoT traction among SMEs is expected to create lucrative opportunities for the expansion of the IoT market, globally.
The Internet of Things (IoT) is playing a key role in the transformation by helping companies improve profitability and optimize working capital. Through IoT, organizations seamlessly connect machinery and administrative systems via high-speed internet, enabling more streamlined and effective operations. 
Moreover, IoT is expected to witness more adoption and usage in future, as it allows organizations to improve their performance and productivity. In addition to enhancing operational efficiency, the IoT market plays an essential role in enabling data-driven innovation. By continuously collecting and transmitting data from connected devices, IoT ecosystems empower organizations to gain actionable insights into user behavior, equipment performance, environmental conditions, and supply chain activities. These insights not only improve productivity and service delivery but also open avenues for the creation of new revenue streams through predictive analytics, automation, and personalized services. Thus, the IoT market is experiencing rapid expansion, driven by technological advancements, increased adoption across industries, and supportive regulatory frameworks.
Segment Overview:
The IoT market is segmented into component, deployment, application, and region. By component, the market is divided into solution and service. Depending on deployment, it is segregated into on-premise and cloud. On the basis of application, it is bifurcated into commercial and industrial. The industrial segment is further divided into retail & ecommerce, energy & utilities, healthcare, transportation & logistics, manufacturing and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the IoT market include Amazon Web Services, Inc., Robert Bosch GmbH, Hewlett Packard Enterprise Development LP, IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Siemens AG, Telefonaktiebolaget LM Ericsson, ABB Ltd., Qualcomm Technologies, Inc., Zebra Technologies Corp, Thales, Advantech Co., Ltd., Hitachi, Ltd., Samsung SDS Co Ltd, Huawei Cloud Computing Technologies Co., Ltd., Alphabet (Google Inc.), and Armis Inc.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the iot market analysis from 2024 to 2034 to identify the prevailing iot market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the iot market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global iot market trends, key players, market segments, application areas, and market growth strategies.

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● 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
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● Free Industry updates and white papers.

Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
● Technology Trend Analysis
● New Product Development/ Product Matrix of Key Players
● Regulatory Guidelines
● Strategic Recommedations
● Additional company profiles with specific to client's interest
● Additional country or region analysis- market size and forecast
● Expanded list for Company Profiles
● Historic market data
● List of customers/consumers/raw material suppliers- value chain analysis
● Market share analysis of players at global/region/country level
● SWOT Analysis
Key Market Segments
By Application
● Consumer
● Industrial
○ Type
○ Retail and E-commerce
○ Energy and Utilities
○ Healthcare
○ Transportation and Logistics
○ Manufacturing
○ Others
By Deployment
● Cloud
● On-Premise
By Component
● Solution
● Services
By Region
● North America
○ U.S.
○ Canada
● Europe
○ UK
○ Germany
○ France
○ Italy
○ Spain
○ Rest of Europe
● Asia-Pacific
○ China
○ Japan
○ India
○ Australia
○ South Korea
○ Rest of Asia-Pacific
● LAMEA
○ Latin America
○ Middle East
○ Africa
● Key Market Players
○ IBM Corporation
○ Microsoft Corporation
○ Oracle Corporation
○ Siemens AG
○ ABB Ltd.
○ Qualcomm Technologies, Inc.
○ Thales
○ Advantech Co., Ltd.
○ Huawei Cloud Computing Technologies Co., Ltd.
○ Amazon Web Services, Inc.
○ Samsung SDS Co., Ltd.
○ Intel Corporation
○ Hewlett Packard Enterprise Development LP
○ SAP SE
○ Telefonaktiebolaget LM Ericsson
○ Zebra Technologies Corp
○ Hitachi, Ltd.
○ Alphabet (Google Inc.)
○ Armis Inc.
○ Robert Bosch GmbH

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.3.1. Moderate bargaining power of suppliers
3.3.2. Moderate-to-high bargaining power of buyers
3.3.3. Moderate-to-high threat of substitutes
3.3.4. Low-to-high intensity of rivalry
3.3.5. Moderate-to-high bargaining power of buyers
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Development of wireless networking technologies
3.4.1.2. Increase in cloud platform adoption for deployment of IoT
3.4.1.3. Advent of advanced data analytics and data processing
3.4.2. Restraints
3.4.2.1. High cost associated with implementation and maintenance of IoT platform
3.4.2.2. Increase in security & privacy concerns across industry verticals
3.4.3. Opportunities
3.4.3.1. Increase in use of IoT among SMEs
CHAPTER 4: IOT MARKET, BY COMPONENT
4.1. Overview
4.1.1. Market size and forecast
4.2. Solution
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Services
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
CHAPTER 5: IOT MARKET, BY APPLICATION
5.1. Overview
5.1.1. Market size and forecast
5.2. Consumer
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Industrial
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
5.3.4. Industrial IoT Market by Type
5.3.4.1. Retail and E-commerce Market size and forecast, by region
5.3.4.2. Retail and E-commerce Market size and forecast, by country
5.3.4.3. Energy and Utilities Market size and forecast, by region
5.3.4.4. Energy and Utilities Market size and forecast, by country
5.3.4.5. Healthcare Market size and forecast, by region
5.3.4.6. Healthcare Market size and forecast, by country
5.3.4.7. Transportation and Logistics Market size and forecast, by region
5.3.4.8. Transportation and Logistics Market size and forecast, by country
5.3.4.9. Manufacturing Market size and forecast, by region
5.3.4.10. Manufacturing Market size and forecast, by country
5.3.4.11. Others Market size and forecast, by region
5.3.4.12. Others Market size and forecast, by country
CHAPTER 6: IOT MARKET, BY DEPLOYMENT
6.1. Overview
6.1.1. Market size and forecast
6.2. Cloud
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis by country
6.3. On-Premise
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis by country
CHAPTER 7: IOT MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast By Region
7.2. North America
7.2.1. Key market trends, growth factors and opportunities
7.2.2. Market size and forecast, by Component
7.2.3. Market size and forecast, by Application
7.2.3.1. North America Industrial IoT Market by Type
7.2.4. Market size and forecast, by Deployment
7.2.5. Market size and forecast, by country
7.2.5.1. U.S.
7.2.5.1.1. Market size and forecast, by Component
7.2.5.1.2. Market size and forecast, by Application
7.2.5.1.2.1. U.S. Industrial IoT Market by Type
7.2.5.1.3. Market size and forecast, by Deployment
7.2.5.2. Canada
7.2.5.2.1. Market size and forecast, by Component
7.2.5.2.2. Market size and forecast, by Application
7.2.5.2.2.1. Canada Industrial IoT Market by Type
7.2.5.2.3. Market size and forecast, by Deployment
7.3. Europe
7.3.1. Key market trends, growth factors and opportunities
7.3.2. Market size and forecast, by Component
7.3.3. Market size and forecast, by Application
7.3.3.1. Europe Industrial IoT Market by Type
7.3.4. Market size and forecast, by Deployment
7.3.5. Market size and forecast, by country
7.3.5.1. UK
7.3.5.1.1. Market size and forecast, by Component
7.3.5.1.2. Market size and forecast, by Application
7.3.5.1.2.1. UK Industrial IoT Market by Type
7.3.5.1.3. Market size and forecast, by Deployment
7.3.5.2. Germany
7.3.5.2.1. Market size and forecast, by Component
7.3.5.2.2. Market size and forecast, by Application
7.3.5.2.2.1. Germany Industrial IoT Market by Type
7.3.5.2.3. Market size and forecast, by Deployment
7.3.5.3. France
7.3.5.3.1. Market size and forecast, by Component
7.3.5.3.2. Market size and forecast, by Application
7.3.5.3.2.1. France Industrial IoT Market by Type
7.3.5.3.3. Market size and forecast, by Deployment
7.3.5.4. Italy
7.3.5.4.1. Market size and forecast, by Component
7.3.5.4.2. Market size and forecast, by Application
7.3.5.4.2.1. Italy Industrial IoT Market by Type
7.3.5.4.3. Market size and forecast, by Deployment
7.3.5.5. Spain
7.3.5.5.1. Market size and forecast, by Component
7.3.5.5.2. Market size and forecast, by Application
7.3.5.5.2.1. Spain Industrial IoT Market by Type
7.3.5.5.3. Market size and forecast, by Deployment
7.3.5.6. Rest of Europe
7.3.5.6.1. Market size and forecast, by Component
7.3.5.6.2. Market size and forecast, by Application
7.3.5.6.2.1. Rest of Europe Industrial IoT Market by Type
7.3.5.6.3. Market size and forecast, by Deployment
7.4. Asia-Pacific
7.4.1. Key market trends, growth factors and opportunities
7.4.2. Market size and forecast, by Component
7.4.3. Market size and forecast, by Application
7.4.3.1. Asia-Pacific Industrial IoT Market by Type
7.4.4. Market size and forecast, by Deployment
7.4.5. Market size and forecast, by country
7.4.5.1. China
7.4.5.1.1. Market size and forecast, by Component
7.4.5.1.2. Market size and forecast, by Application
7.4.5.1.2.1. China Industrial IoT Market by Type
7.4.5.1.3. Market size and forecast, by Deployment
7.4.5.2. Japan
7.4.5.2.1. Market size and forecast, by Component
7.4.5.2.2. Market size and forecast, by Application
7.4.5.2.2.1. Japan Industrial IoT Market by Type
7.4.5.2.3. Market size and forecast, by Deployment
7.4.5.3. India
7.4.5.3.1. Market size and forecast, by Component
7.4.5.3.2. Market size and forecast, by Application
7.4.5.3.2.1. India Industrial IoT Market by Type
7.4.5.3.3. Market size and forecast, by Deployment
7.4.5.4. Australia
7.4.5.4.1. Market size and forecast, by Component
7.4.5.4.2. Market size and forecast, by Application
7.4.5.4.2.1. Australia Industrial IoT Market by Type
7.4.5.4.3. Market size and forecast, by Deployment
7.4.5.5. South Korea
7.4.5.5.1. Market size and forecast, by Component
7.4.5.5.2. Market size and forecast, by Application
7.4.5.5.2.1. South Korea Industrial IoT Market by Type
7.4.5.5.3. Market size and forecast, by Deployment
7.4.5.6. Rest of Asia-Pacific
7.4.5.6.1. Market size and forecast, by Component
7.4.5.6.2. Market size and forecast, by Application
7.4.5.6.2.1. Rest of Asia-Pacific Industrial IoT Market by Type
7.4.5.6.3. Market size and forecast, by Deployment
7.5. LAMEA
7.5.1. Key market trends, growth factors and opportunities
7.5.2. Market size and forecast, by Component
7.5.3. Market size and forecast, by Application
7.5.3.1. LAMEA Industrial IoT Market by Type
7.5.4. Market size and forecast, by Deployment
7.5.5. Market size and forecast, by country
7.5.5.1. Latin America
7.5.5.1.1. Market size and forecast, by Component
7.5.5.1.2. Market size and forecast, by Application
7.5.5.1.2.1. Latin America Industrial IoT Market by Type
7.5.5.1.3. Market size and forecast, by Deployment
7.5.5.2. Middle East
7.5.5.2.1. Market size and forecast, by Component
7.5.5.2.2. Market size and forecast, by Application
7.5.5.2.2.1. Middle East Industrial IoT Market by Type
7.5.5.2.3. Market size and forecast, by Deployment
7.5.5.3. Africa
7.5.5.3.1. Market size and forecast, by Component
7.5.5.3.2. Market size and forecast, by Application
7.5.5.3.2.1. Africa Industrial IoT Market by Type
7.5.5.3.3. Market size and forecast, by Deployment
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product mapping of top 10 player
8.4. Competitive dashboard
8.5. Competitive heatmap
8.6. Top player positioning, 2024
CHAPTER 9: COMPANY PROFILES
9.1. Robert Bosch GmbH
9.1.1. Company overview
9.1.2. Key executives
9.1.3. Company snapshot
9.1.4. Operating business segments
9.1.5. Product portfolio
9.1.6. Business performance
9.1.7. Key strategic moves and developments
9.2. Hewlett Packard Enterprise Development LP
9.2.1. Company overview
9.2.2. Key executives
9.2.3. Company snapshot
9.2.4. Operating business segments
9.2.5. Product portfolio
9.2.6. Business performance
9.2.7. Key strategic moves and developments
9.3. IBM Corporation
9.3.1. Company overview
9.3.2. Key executives
9.3.3. Company snapshot
9.3.4. Operating business segments
9.3.5. Product portfolio
9.3.6. Business performance
9.3.7. Key strategic moves and developments
9.4. Intel Corporation
9.4.1. Company overview
9.4.2. Key executives
9.4.3. Company snapshot
9.4.4. Operating business segments
9.4.5. Product portfolio
9.4.6. Business performance
9.5. Microsoft Corporation
9.5.1. Company overview
9.5.2. Key executives
9.5.3. Company snapshot
9.5.4. Operating business segments
9.5.5. Product portfolio
9.5.6. Business performance
9.5.7. Key strategic moves and developments
9.6. Oracle Corporation
9.6.1. Company overview
9.6.2. Key executives
9.6.3. Company snapshot
9.6.4. Operating business segments
9.6.5. Product portfolio
9.6.6. Business performance
9.6.7. Key strategic moves and developments
9.7. SAP SE
9.7.1. Company overview
9.7.2. Key executives
9.7.3. Company snapshot
9.7.4. Operating business segments
9.7.5. Product portfolio
9.7.6. Business performance
9.7.7. Key strategic moves and developments
9.8. Siemens AG
9.8.1. Company overview
9.8.2. Key executives
9.8.3. Company snapshot
9.8.4. Operating business segments
9.8.5. Product portfolio
9.8.6. Business performance
9.9. Telefonaktiebolaget LM Ericsson
9.9.1. Company overview
9.9.2. Key executives
9.9.3. Company snapshot
9.9.4. Operating business segments
9.9.5. Product portfolio
9.9.6. Business performance
9.10. ABB Ltd.
9.10.1. Company overview
9.10.2. Key executives
9.10.3. Company snapshot
9.10.4. Operating business segments
9.10.5. Product portfolio
9.10.6. Business performance
9.11. Qualcomm Technologies, Inc.
9.11.1. Company overview
9.11.2. Key executives
9.11.3. Company snapshot
9.11.4. Operating business segments
9.11.5. Product portfolio
9.11.6. Business performance
9.12. Zebra Technologies Corp
9.12.1. Company overview
9.12.2. Key executives
9.12.3. Company snapshot
9.12.4. Operating business segments
9.12.5. Product portfolio
9.12.6. Business performance
9.13. Thales
9.13.1. Company overview
9.13.2. Key executives
9.13.3. Company snapshot
9.13.4. Operating business segments
9.13.5. Product portfolio
9.13.6. Business performance
9.14. Advantech Co., Ltd.
9.14.1. Company overview
9.14.2. Key executives
9.14.3. Company snapshot
9.14.4. Operating business segments
9.14.5. Product portfolio
9.14.6. Business performance
9.15. Hitachi, Ltd.
9.15.1. Company overview
9.15.2. Key executives
9.15.3. Company snapshot
9.15.4. Operating business segments
9.15.5. Product portfolio
9.15.6. Business performance
9.15.7. Key strategic moves and developments
9.16. Samsung SDS Co., Ltd.
9.16.1. Company overview
9.16.2. Key executives
9.16.3. Company snapshot
9.16.4. Operating business segments
9.16.5. Product portfolio
9.16.6. Business performance
9.17. Huawei Cloud Computing Technologies Co., Ltd.
9.17.1. Company overview
9.17.2. Key executives
9.17.3. Company snapshot
9.17.4. Operating business segments
9.17.5. Product portfolio
9.18. Amazon Web Services, Inc.
9.18.1. Company overview
9.18.2. Key executives
9.18.3. Company snapshot
9.18.4. Operating business segments
9.18.5. Product portfolio
9.18.6. Business performance
9.19. Alphabet (Google Inc.)
9.19.1. Company overview
9.19.2. Key executives
9.19.3. Company snapshot
9.19.4. Operating business segments
9.19.5. Product portfolio
9.19.6. Business performance
9.20. Armis Inc.
9.20.1. Company overview
9.20.2. Key executives
9.20.3. Company snapshot
9.20.4. Operating business segments
9.20.5. Product portfolio