Report Details:
15 Companies Covered
200 Pages
Increasing adoption of smart home technology will positively impact the Global Connected IoT Devices Market at a CAGR of 16.17% during the forecast period, 2025 to 2035
Market Research Future (MRFR) has published a cooked research report on the “Global Connected IoT Devices Market” that contains information from 2025 to 2035. The Connected IoT Devices market is estimated to register a CAGR of 16.17% during the forecast period of 2025 to 2035.
MRFR recognizes the following companies as the key players in the Global Connected IoT Devices Market — Oracle Corporation (US), PTC Incorporation (US), Smith Micro Software, Inc. (US), Telit Communications PLC (Italy), Wind River Systems (US), Xively (US), Samsung Electronics Co. Ltd. (South Korea), Motorola Inc. (US), Nokia Solutions Network (Finland), LG Corporation (South Korea), Hewlett-Packard (US), HTC Corporation (Taiwan), Apple Inc. (US), and Dell Inc. (US), among others.
Market Highlights
The Global Connected IoT Devices Market is accounted for to register a CAGR of 16.17% during the forecast period and is estimated to reach USD 62.21 Billion by 2035.
The connected IoT ecosystem is growing quickly because more and more people are using smart home devices like smart speakers, thermostats, lighting controls, and home security products. The use of advanced technologies like AI, machine learning, and 5G connectivity is making automation, remote control, and energy efficiency easier. More and more projects are being started to make cities smarter and automate factories. This is speeding up the growth of the market in many areas, such as manufacturing, utilities, healthcare, and retail.
The growth of real-time analytics for data-driven operations and government spending on IoT infrastructure is also making the future look bright for growth.
Segment Analysis
The Global Connected IoT Devices Market has been segmented based on Component, Deployment, and Application.
The Component segment is further bifurcated into Solution, Service. The Solution segment was attributed to holding the largest market share in 2024 due to increasing demand for IoT device management platforms across industrial and commercial sectors.
The Deployment segment is further bifurcated into Private, Public. The Public segment was attributed to holding the largest market share in 2024 as developed countries increasingly invest in cloud infrastructure supporting large-scale IoT deployments.
The Application segment is further bifurcated into Smart Homes, Smart Manufacturing, Smart Utilities, Smart Retail, Connected Health, Connected Logistics. The Smart Manufacturing segment was attributed to holding the largest market share in 2024, supported by digital transformation initiatives and the adoption of predictive maintenance technologies.
Region Analysis
By Region, the Connected IoT Devices Market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
North America held the largest share of 45.80% in 2022 due to technological advancements, strong cloud infrastructure, and high penetration of connected devices across industries. This is because infrastructure has improved, cutting-edge networking technology is becoming more common, and cloud computing is becoming more popular. The US gives the North American market most of its input. Also, the market in the area benefits a lot from the strong market players and their huge customer bases. The U.S.
Key Findings of the Study
• The Global Connected IoT Devices Market is expected to reach USD 62.21 Billion by 2035, at a CAGR of 16.17% during the forecast period.
• North America accounted for the largest market share in 2024.
• Based on Component, the Solution segment was attributed to holding the largest market in 2024.
• Based on Deployment, the Public segment was attributed to holding the largest market in 2024.
• Based on the Application, the Smart Manufacturing segment was attributed to holding the largest market in 2024.
• Key players include Oracle Corporation (US), PTC Incorporation (US), Smith Micro Software, Inc. (US), Telit Communications PLC (Italy), Wind River Systems (US), Xively (US), Samsung Electronics Co. Ltd. (South Korea), Motorola Inc. (US), Nokia Solutions Network (Finland), LG Corporation (South Korea), Hewlett-Packard (US), HTC Corporation (Taiwan), Apple Inc. (US), and Dell Inc. (US).