Global Internet of Things Market to Reach USD 2.72 Trillion by 2030, Driven by Low-Cost Sensors, Edge-AI, and Strong Growth in Manufacturing & Agriculture

Mordor Intelligence has published a new report on the Internet of Things Market, offering a comprehensive analysis of trends, growth drivers, and future projections.

Internet of Things Market Overview
The global Internet of Things (IoT) market is on track to expand from USD 1.35 trillion in 2025 to USD 2.72 trillion by 2030, growing at a compound annual growth rate (CAGR) of 15.04 %. This sustained growth reflects rising demand across industries for real-time monitoring, predictive maintenance, and data-driven decision-making. As 5G and low‐power wide‐area networks become widespread and sensor costs fall, IoT is shifting from experimentation to full-scale deployment.

North America currently accounts for the largest share of 32 .3%, but Asia‐Pacific is expected to overtake most regions with the fastest CAGR of approximately 15.1%. Meanwhile, the market's focus has broadened beyond manufacturing to now include agriculture, logistics, smart cities and more.

Report Overview: https://www.mordorintelligence.com/industry-reports/internet-of-things-iot-market?utm_source=openpr

Internet of Things Market Key Trends

1. Falling Sensor Prices & Device Proliferation

Sensor unit costs have plunged for instance, basic environmental sensors now go for under USD 5, and industrial-grade vibration sensors are priced between USD 50 and USD 100, compared to USD 200-500 five years ago. This affordability allows denser, more granular instrumentation across sectors, increasing the scope of real-world use cases and triggering more extensive deployments.

2. 5G and Low‐Power Networks Widen Coverage

With rollouts of 5G and LPWAN technologies gaining momentum in North America and Asia‐Pacific, connectivity options are more reliable and widespread. As a result, industries such as agriculture, logistics, and manufacturing can reach remote or mobile assets and access faster, cheaper links a major enabler for new IoT applications.

3. Edge‐AI Responds Faster, Enhances Security

Growing interest in edge or hybrid IoT deployment expected to grow at about 18 % CAGR through 2030 shows that organizations want AI processing close to the data source to meet security, latency, and sovereignty needs. This model reduces cloud dependency and enables quicker responses, critical in industrial automation and safety systems.

4. Asset Tracking Proves Essential
In 2024, asset tracking made up 22% of IoT market value. Logistics and shipping companies now rely on GPS modules and temperature sensors to track vehicles, containers, and cold-chain assets increasing supply-chain resilience. This trend highlights a growing link between IoT and service-level assurance

Check out more details and stay updated with the latest industry trends, including the Japanese version for localized insights: https://www.mordorintelligence.com/ja/industry-reports/internet-of-things-iot-market?utm_source=openpr

Internet of Things Market Segmentation:
By Component

Hardware

Sensors

Processors

Connectivity Modules

Gateways

Software / Platforms

Device Management

Data Management

Analytics

Security

Connectivity Type

Cellular (2G-5G)

LPWAN (NB-IoT, LoRaWAN, Sigfox)

Satellite

Short-Range (Wi-Fi, BLE, Zigbee)

Services

Professional

Managed

Integration

By End-user Industry

Manufacturing and Industrial

Transportation and Logistics

Healthcare and Life Sciences

Retail and E-commerce

Energy and Utilities

Residential and Smart Buildings

Agriculture

Government and Smart Cities

By Application

Asset Tracking and Fleet Management

Predictive Maintenance

Smart Metering

Remote Patient Monitoring

Smart Home and Appliances

Connected Vehicles and V2X

Environmental and Climate Monitoring

By Deployment Model

Cloud

On-premises

Edge / Hybrid

By Geography

North America

United States

Canada

Mexico

South America

Brazil

Argentina

Europe

Germany

United Kingdom

France

Spain

Italy

Russia

Asia Pacific

China

India

Japan

South Korea

ASEAN

Rest of Asia Pacific

Middle East and Africa

Middle East

Saudi Arabia

UAE

Turkey

Africa

South Africa

Nigeria

Egypt


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Key Players
Cisco Systems, Inc.
Cisco is a global leader in networking and provides IoT solutions including industrial routers, edge computing, and network security tools that support large-scale, real-time data operations.

Google, Inc.
Google offers IoT capabilities primarily through its Google Cloud Platform, combining scalable cloud services with AI and machine learning tools for connected devices and real-time analytics.

IBM Corporation
IBM supports IoT deployments with its Watson IoT platform, delivering analytics, asset management, and automation tools for industries like manufacturing, automotive, and logistics.

Microsoft Corporation
Through Azure IoT, Microsoft provides cloud-based solutions for device connectivity, data monitoring, and predictive insights, widely used in smart factories and connected infrastructure.

Huawei Technologies Co. Ltd
Huawei offers a complete IoT portfolio including connectivity hardware, cloud platforms, and industry-specific solutions, especially in smart cities, transportation, and agriculture, with strong presence in Asia and emerging markets.

Conclusion
The Internet of Things market is expanding steadily as more industries adopt connected devices to improve efficiency, safety, and decision-making. Advances in connectivity options, combined with more affordable sensors and smarter data processing at the edge, are helping businesses solve real-world challenges across manufacturing, agriculture, logistics, and smart cities. While the technology becomes easier to deploy and manage, organizations must also navigate issues like data security, integration complexity, and balancing cloud and edge computing needs. Overall, IoT is becoming an essential part of digital transformation strategies worldwide.

Industry Related Reports
Internet Of Things In The Energy Market:

The Internet of Things in the Energy Market Report is Segmented by Component (Hardware, Software and Analytics, Iot Platforms, and More), Application (Smart Grid Monitoring, Energy Management Systems, Predictive Maintenance, and More), Connectivity Technology (Cellular (2G-5G), Satellite IoT, and More), Deployment Model (Cloud, Edge, and More), End-User (Electric and Gas Utilities, Residential and Prosumer, and More), and Geography

To know more visit this link: https://www.mordorintelligence.com/industry-reports/internet-of-things-in-energy-sector-industry?utm_source=openpr

Iot Market In Qatar:

The Qatar Internet of Things (IoT) Market Report is Segmented by Component (Hardware, Software, and Services), Connectivity Technology (5G SA / Private 5G, NB-IoT / LTE-M, and More), Application (Smart Manufacturing, Smart City and Infrastructure, and More), and End-User Vertical (Manufacturing, Transport and Logistics, and More).

To know more visit this link: https://www.mordorintelligence.com/industry-reports/qatar-internet-of-things-iot-market?utm_source=openpr

Smart Lock Market:

Smart Lock Market is Segmented by Lock Type (Deadbolt, Lever Handle, and More), Communication Technology (Bluetooth, Wi-Fi, and More), Authentication Method (Pin-Code / Keypad, Biometric (Fingerprint, Face), and More), End User (Residential, Commercial Offices, and More) and by Geography.

To know more visit this link: https://www.mordorintelligence.com/industry-reports/smart-lock-market?utm_source=openpr

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This release was published on openPR.