Internet of Things (IoT) Market Size Report, Industry Share, Analysis, Growth, 2032

The Internet of Things (IoT) is a network of devices and objects that can communicate, collect, and exchange data without human intervention. These items, from appliances and vehicles to industrial machines, have sensors, software, and connectivity to collect and share data. Data-driven IoT technology improves efficiency, convenience, and decision-making in smart homes, healthcare, agriculture, transportation, and manufacturing.

This in return is driving market demand for IoT-enabled devices in manufacturing industries. Internet of Things (IoT) is diversely used in many end-use industries such as IT & telecom, retail, BFSI, healthcare, government, transportation, manufacturing, and others.

The Global Internet Of Things (IoT) Market Size Was Worth USD 373.38 Billion in 2023 and projected to USD 1855.51 Billion by 2032, with a CAGR of around 19.5% between 2024-2032.

The Internet of things (IoT) is forecasted to witness prominent market demand in North America. 

Some of the globally leading IoT market participants included in the report are Hewlett Packard Enterprise, Intel Corporation, Hitachi, Ltd, Amazon Web Services, Inc., Fujitsu Ltd., Cisco Systems, Inc., Huawei Technologies Co., Ltd, Micro Soft Corporation, Beyond Verbal, Affectiva, Noldus Information Technology, Lexalytics, Adoreboard, Cogito, Siemens AG, iMotions, NVISO, Gorilla Technology, Sensum, Oracle Corporation, AT&T, Inc., Bosch Software Innovations GmbH, Kairos, Sentiance, IBM, Google, Inc., and Tobii among others.