PUBLISHER: Grand View Research | PRODUCT CODE: 1679471
PUBLISHER: Grand View Research | PRODUCT CODE: 1679471
The global IoT devices market size was estimated at USD 70.28 billion in 2024 and is expected to grow at a CAGR of 16.8% from 2025 to 2030. This expansion is largely fueled by the convergence of technological advancements and growing innovations such as 5G connectivity, edge computing, and the increasing demand for real-time data analytics. These technologies are enhancing operational efficiencies across various sectors, including healthcare and manufacturing, and enabling the development of smarter products and services that cater to a more connected lifestyle, which is expected to present lucrative opportunities for the internet of things (IoT) devices industry in the coming years.
The increased adoption of smart devices is reshaping everyday life, with wearables, smart appliances, and home automation systems creating interconnected ecosystems that enhance convenience and efficiency. In industries, IoT devices are enabling real-time data collection and analytics, optimizing operations, and reducing costs. The rise of smart cities is another major driver, as governments and businesses invest in technologies for traffic management, energy distribution, and environmental monitoring to improve urban living standards.
The expansion of Industrial IoT (IIoT) is a significant trend, particularly in manufacturing. IoT devices are being employed to optimize production processes, reduce resource consumption, and enable predictive maintenance. These advancements are transforming factories into smart facilities capable of data-driven decision-making. Additionally, the automotive sector is leveraging IoT for connected vehicles, enabling features such as real-time monitoring, electric vehicle charging integration, and advanced payment mechanisms.
The push for sustainability and energy efficiency is further propelling the IoT devices industry. Sensor-based solutions are being widely adopted to monitor and manage energy consumption across homes, businesses, and public infrastructure. These technologies not only help reduce costs but also align with global environmental goals by promoting resource optimization and reducing carbon footprints.
Moreover, technological advancements such as 5G connectivity, edge computing, and the integration of AI and machine learning are revolutionizing the IoT devices industry. 5G networks provide faster data transmission with low latency, enabling seamless communication between devices. Edge computing enhances real-time data processing at the device level, while AI and machine learning enable predictive analytics and automation across industries. This trend is expected to drive the IoT devices industry's expansion in the coming years.
Global IoT Devices Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest technology trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global IoT devices market report based on component, end use, connectivity, and region: