Iot Is Transforming The Automotive Industry And Accelerating Growth In The Iot Market: A Key Driver Powering IoT Market Growth In 2025

The IoT Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the IoT Market Size Expected to Be by 2034?
In recent times, the IoT market has expanded swiftly. Expected growth is from $535.97 billion by the end of 2024 to a sizeable $629.5 billion by 2025, with a compound annual growth rate (CAGR) of 17.5%. This historic period growth is due to an increasing number of connected devices, insights from data analytics, industrial automation, smart city initiatives and the transformation in healthcare.

Anticipated to witness significant surge in the approaching years, the IoT market's size is projected to swell to $1520.12 billion by 2029, growing at a compound annual growth rate (CAGR) of 24.7%. The expansion during the predicted phase can be linked to the deployment of 5g networks, increased adoption of edge computing, extensive growth in industrial IoT (iIoT), smart home and consumer IoT, and an emphasis on sustainability and energy efficiency. The anticipated market trends within this period include the utilization of blockchain for data integrity, interoperability standards, edge ai and inference, a focus on sustainable IoT solutions, and the growth of healthcare IoT.

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What Are the Emerging Segments Within the IoT Market?
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

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What Long-Term Drivers Are Shaping IoT Market Trends?
The growth of the IoT market is being propelled by its use in various sectors, including the automotive industry. The incorporation of IoT into the automotive field has provided new avenues for both global automobile manufacturers and their consumers. The automotive industry acknowledges IoT as a significant hub for diverse multipurpose applications. It facilitates improved communication, control, and data transmission at any point of transportation. Renowned corporations like Mercedes-Benz, Volkswagen, Volvo, Toyota, and Google Inc. are investing heavily in the creation of intelligent cars loaded with advanced features that promote healthier, more comfortable, and more enjoyable driving experiences. UBS predicts that by 2030, self-driving taxi fleets will account for 12% of all car sales, with around 26 million driverless taxis operating globally.

Who Are the Top Competitors in Key IoT Market Segments?
Major companies operating in the IoT market include 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

What IoT Market Trends Are Gaining Traction Across Different Segments?
Leading corporations in the multifamily housing green buildings industry are introducing progressive technologies like green transformation (GX) to amplify sustainability, energy efficiency and environmental performance in residential projects. GX stands for the act of embracing sustainable techniques, technologies and innovations that reduce environmental harm while boosting energy efficiency. For example, Hitachi Ltd., a multinational conglomerate based in Japan, rolled out a new model - the BuilMirai Building IoT solution, in September 2024. This solution is an all-in-one platform created to improve the management and operation of small and medium-sized buildings. It prioritizes eco-friendly building practices, mirroring the worldwide shift towards sustainable construction and managing practices. With a monthly subscription plan, the company makes these solutions accessible, permitting customers to select services based on their needs, which decreases their initial investment costs and encourages green transformation (GX) and digital transformation (DX) for smaller buildings. BuilMirai links various building facilities and systems, leading to superior management and operational efficiency.

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Which Regions Are Becoming Hubs for IoT Market Innovation?
Asia-Pacific was the largest region in the IoT market in 2024. North America was the second largest region in the global IoT market share. The regions covered in the IoT market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the IoT Market?
2. What is the CAGR expected in the IoT Market?
3. What Are the Key Innovations Transforming the IoT Industry?
4. Which Region Is Leading the IoT Market?

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