IoT Connectivity Market Trends, Share and Future Demand 2023-2028

What is the Size of the IoT Connectivity Market ? : 

IMARC Group’s latest report, titled “IoT Connectivity Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the IoT connectivity market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market. the global IoT connectivity market size reached US$ 6.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 25.4 Billion by 2028, exhibiting a growth rate (CAGR) of 25.34% during 2023-2028.

IoT Connectivity Market Development:

IoT (Internet of Things) connectivity refers to the ability of IoT devices to connect and communicate with each other and other systems over the internet. This enables devices to share data and information and be controlled and managed remotely, leading to increased efficiency, productivity, and innovation. IoT connectivity is made possible through various technologies such as Wi-Fi, Bluetooth, cellular networks, and satellite networks. These technologies enable devices to connect to the internet and other devices, allowing them to exchange data and perform various functions. IoT connectivity is a key enabler of the IoT ecosystem, enabling the development of new applications and services that can transform industries and improve people’s lives.

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Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players being

  • Aeris
  • AT&T Inc
  • Cisco Systems Inc
  • Huawei Technologies Co. Ltd
  • Orange, Sierra Wireless
  • Sigfox
  • Telefonaktiebolaget LM Ericsson
  • Telefónica S.A
  • Telit, Verizon Communications Inc
  • Vodafone Group Plc

What is the Market Demand of IoT ? :

The global market is primarily driven by the significant growth of IoT devices and applications. In line with this, the increasing number of connected devices and the rising demand for reliable and secure IoT connectivity solutions are significantly contributing to the market growth. Furthermore, the development of new technologies and standards, such as 5G networks and edge computing, which can provide faster, more reliable, and more secure connectivity, is expected to positively influence the market.

Apart from this, the growing need for integrating the standalone and non-standalone components of the IoT ecosystem is catalyzing the market. Moreover, open-source IoT platforms offer a competitive edge over traditional connectivity platform providers, which offers numerous opportunities for the market. Additionally, the escalating new automation trends in industrial processes are propelling the demand for IoT connectivity to observe products continuously and troubleshoot quality defects in real-time.

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Key Market Segmentation:

Breakup by Component:

  • Solutions
  • Services

Breakup by Application:

  • Buildings and Home Automation
  • Smart Energy and Utility
  • Smart Manufacturing
  • Smart Retail
  • Smart Transportation
  • Others

Breakup by Enterprise Size:

  • Small and Medium-sized Enterprises
  • Large Enterprises

Breakup by End Use Industry:

  • BFSI
  • Healthcare
  • Travel and Hospitality
  • Defense and Aerospace
  • IT and Telecommunication
  • Retail and E-Commerce
  • Manufacturing
  • Others

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other) 

Key Highlights of the Report: 

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape 

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization. 

Report Coverage:

Report FeaturesDetails
Base Year of the Analysis2022
Historical Period2017-2022
Forecast Period2023-2028
UnitsUS$ Billion
Segment CoverageComponent, Application, Enterprise Size, End Use Industry, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries CoveredUnited States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies CoveredAeris Communications India Pvt. Ltd, AT&T Inc., Cisco Systems Inc., Huawei Technologies Co. Ltd., Orange, Sierra Wireless, Sigfox, Telefonaktiebolaget LM Ericsson, Telefónica S.A., Telit IoT Platforms, LLC, Verizon Communications Inc. and Vodafone Group Plc
Customization Scope10% Free Customization
Report Price and Purchase OptionSingle User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support10-12 Weeks
Delivery FormatPDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us: 

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. 

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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