Through market attractiveness analysis, total addressable market evaluation, company benchmarking matrices, interactive Excel dashboards, expanded supply chain intelligence, emerging startup coverage, and detailed product insights, The Business Research Company’s 2026 market reports provide more actionable and strategically valuable research.
IoT Market Value Analysis: What Growth Is Expected Over The Forecast Period?
The iot market has witnessed significant expansion in recent years. It is anticipated to grow from $599.39 billion in 2025 to $699.83 billion in 2026, at a compound annual growth rate (CAGR) of 16.8%. This growth during the historic period is attributable to connected device proliferation, automation in manufacturing, early smart city projects, declining sensor costs, and enterprise digitalization initiatives.
The iot market size is projected to experience significant expansion over the coming years. This market is predicted to reach $1304.85 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 16.9%. Factors driving this growth during the forecast period include the proliferation of 5G enabled iot, the rise of AI powered data analytics, extensive smart infrastructure initiatives, growing enterprise iot investments, and the need for real time operational insights. Key trends anticipated in the forecast period encompass the adoption of end to end iot platforms, widespread industrial iot deployment, cloud based iot management, the integration of edge computing, and the emergence of cross industry iot solutions.
Download A Free Sample Report For Comprehensive Market Insights:
IoT Market Growth Factors Supporting Long-Term Expansion
The continuous expansion of cloud computing is anticipated to accelerate the expansion of the IoT market in the future. Cloud computing involves delivering computing services such as servers, storage, databases, networking, software, and analytics via the internet, facilitating quicker innovation, adaptable resources, and cost efficiencies. Its growing uptake is largely due to its cost-effectiveness, enabling businesses to decrease capital outlays on physical infrastructure by paying solely for utilized computing resources. For the IoT, cloud computing offers vital support through scalable storage, real-time data processing, and uninterrupted connectivity, empowering IoT devices to effectively gather, analyze, and disseminate information across various networks. A relevant example is from April 2025, when the American Bar Association, a professional organization based in the U.S., reported that roughly 75% of lawyers utilized cloud computing for professional duties, marking an increase from 69% in 2023 and approximately 70% in 2022. Consequently, the heightened deployment of cloud computing fuels the expansion of the IoT market.
IoT Market Segmentation And Category Breakdown
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
IoT Market Trends Driving Strategic Industry Expansion
Leading companies in the multifamily housing green buildings sector are developing advanced technologies, such as green transformation (GX), to improve sustainability, energy efficiency, and environmental performance in residential developments. Green transformation (GX) describes the process of adopting sustainable practices, technologies, and innovations to minimize environmental impact and enhance energy efficiency. For instance, in September 2024, Hitachi Ltd., a Japan-based multinational conglomerate, launched a new model BuilMirAI Building IoT solution. The BuilMirAI Building IoT solution is a comprehensive platform designed to boost the management and operational efficiency of small and medium-sized buildings. This solution highlights green building practices, aligning with global trends favoring sustainability in construction and management. The company will deliver these solutions through monthly subscription plans, allowing customers to select services as needed, which reduces their investment costs and advances green transformation (GX) and digital transformation (DX) for small and medium-sized buildings. BuilMirAI connects various building facilities and systems, thereby facilitating better management and operational efficiency.
IoT Market Competitive Analysis Of Major Industry Participants
Major companies operating in the iot market are 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
Access The Complete IoT Market Report:
IoT Market Regional Distribution: Which Areas Drive Market Expansion?
Asia-Pacific was the largest region in the IoT market in 2025. North America was the second largest region in the global IoT market share. The regions covered in the iot market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Get in touch with us:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas: +1 310-496-7795
Asia: +44 7882 955267 & +91 8897263534
Europe: +44 7882 955267
Email us at: marketing@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.