The global market for Internet of Things (IoT) Connectivity was estimated at US$11.8 Billion in 2023 and is projected to reach US$38.8 Billion by 2030, growing at a CAGR of 18.6% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Global Internet of Things (IoT) Connectivity Market - Key Trends and Drivers Summarized
Why Is Internet of Things (IoT) Connectivity Critical for the Future of Smart Devices?
The Internet of Things (IoT) connectivity plays a crucial role in linking billions of smart devices, enabling seamless communication, data exchange, and automation across different networks. IoT connectivity encompasses a wide range of communication technologies, such as Wi-Fi, Bluetooth, Zigbee, LPWAN (Low Power Wide Area Network), and cellular networks like 4G, 5G, and Narrowband IoT (NB-IoT). These technologies are designed to support various use cases, from consumer smart homes and wearable devices to large-scale industrial systems and smart cities. Reliable and efficient connectivity is essential to ensure that IoT devices can exchange data in real-time, monitor systems remotely, and enable automation, making it a foundational component for a wide array of industries, including manufacturing, healthcare, logistics, and agriculture.How Are Technological Advancements Shaping the IoT Connectivity Market?
Technological innovations, especially in 5G and LPWAN, are driving significant advancements in IoT connectivity. 5G technology is a game-changer for IoT, offering ultra-low latency, high-speed data transfer, and the capacity to support millions of devices within a small geographic area. This is particularly important for applications requiring real-time data processing, such as autonomous vehicles, smart factories, and telemedicine. LPWAN technologies, including LoRaWAN and NB-IoT, are expanding the reach of IoT connectivity in remote and rural areas where traditional cellular networks are not feasible. These technologies allow IoT devices to operate on low power for extended periods, enabling long-term monitoring in applications like agriculture and environmental management. The integration of edge computing with IoT connectivity is also emerging, providing real-time data processing closer to the source and reducing the dependency on cloud computing.How Do Market Segments Define the Growth of the IoT Connectivity Market?
Connectivity technologies include cellular, Wi-Fi, Bluetooth, Zigbee, and LPWAN, with LPWAN gaining traction due to its ability to support long-range communication with low power consumption. Applications span across consumer electronics, automotive, healthcare, and industrial automation, with industrial automation representing the fastest-growing segment as manufacturers increasingly rely on IoT to optimize operations and reduce downtime. End-user industries include manufacturing, healthcare, energy, agriculture, and logistics, with smart cities and transportation also emerging as significant areas of growth. The adoption of IoT connectivity is accelerating in regions such as North America, Europe, and Asia-Pacific, where smart infrastructure projects and industrial digitalization are key drivers.What Factors Are Driving the Growth in the IoT Connectivity Market?
The growth in the IoT connectivity market is driven by several factors, including the increasing number of connected devices, the deployment of 5G networks, and the demand for real-time data monitoring and automation. As IoT applications become more complex and widespread, reliable connectivity solutions are essential for managing large networks of devices and ensuring seamless communication. The rollout of 5G is accelerating this growth by providing higher bandwidth and lower latency, enabling advanced applications like smart cities, autonomous vehicles, and industrial IoT. Additionally, the growing trend of remote monitoring and management, particularly in sectors like healthcare and manufacturing, is fueling the demand for robust and scalable connectivity solutions.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Platform Component segment, which is expected to reach US$27.1 Billion by 2030 with a CAGR of a 19.1%. The Services Component segment is also set to grow at 17.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $3.3 Billion in 2023, and China, forecasted to grow at an impressive 17.6% CAGR to reach $5.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Internet of Things (IoT) Connectivity Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Internet of Things (IoT) Connectivity Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Internet of Things (IoT) Connectivity Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Internet of Things (IoT) Connectivity market such as AT&T, Aeris, Cisco Jasper, Emnify, Ericsson and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 167 companies featured in this Internet of Things (IoT) Connectivity market report include:
- AT&T
- Aeris
- Cisco Jasper
- Emnify
- Ericsson
- Hologram
- Huawei
- Moeco
- Orange Business Services
- Particle
- Sierra Wireless
- Sigfox
- Telefónica
- Telit
- Verizon Enterprise Solutions
- Vodafone
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned
- AT&T
- Aeris
- Cisco Jasper
- Emnify
- Ericsson
- Hologram
- Huawei
- Moeco
- Orange Business Services
- Particle
- Sierra Wireless
- Sigfox
- Telefónica
- Telit
- Verizon Enterprise Solutions
- Vodafone
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 156 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 11.8 Billion |
| Forecasted Market Value ( USD | $ 38.8 Billion |
| Compound Annual Growth Rate | 18.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 16 |
