IoT in Consumer Electronics Market Research Report- Global Forecast to 2032

IoT in Consumer Electronics Market Research Report Information By Product (Smart TV, Smartphones, Wearable Devices, Kitchen Appliances, and Others), By Connectivity (Bluetooth, NFC, Wi-Fi, and Others), And By Region (North America, Europe, Asia-Pacific, And The Rest Of The World) –Market Forecast Till 2032

ID: MRFR/SEM/0491-HCR | 145 Pages | Author: Aarti Dhapte | October 2023         

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Global IoT in Consumer Electronics Market Overview:


IoT in Consumer Electronics Market Size was valued at USD 48.9 Billion in 2022. The IoT in the Consumer Electronics market industry is projected to grow from USD 57.7 Billion in 2023 to USD 216.8 Billion by 2032, exhibiting a compound yearly growth rate (CAGR) of 18.00% during the forecast period (2023 - 2032). Increased utilization of IoT in smartphones and the changing lifestyles of people globally are the key market drivers enhancing growth of market.


Global IoT in Consumer Electronics Market Overview


Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review


IoT in Consumer Electronics Market Trends




  • The growing utilization of IoT in smart devices is driving market growth.




Market CAGR for IoT in consumer electronics is being driven by the rising utilization of IoT in smart devices. The market of consumer electronics is being driven by the development of cloud computing, increasing utilization of smartphones and tablets for operating IoT devices, and improvement in IoT security. The rising consciousness for fitness and increase in disposable income in developing economies is boosting the growth of the market. Further, the growing government initiatives to encourage green buildings are boosting market growth.


With the rising number of businesses, homes, and other establishments that uses the Internet for a different purpose, the requirement for IoT in consumer electronics is rising. The investments made by companies related to consumer IoT are creating new IoT technologies that are driving market growth. In addition, the surge in disposable income and rising understanding of the advantages of IoT are both assisting the consumer electronics industry. The rising demand for more convenience and an improved lifestyle, increasing government regulations for IoT device security, the rising necessity of home monitoring, mainly from remote places, and increasing usage of smart and multimedia devices. The rising demand for connected and wearable devices, and the increase in the utilization of IoT devices in automotive, and the increase in wireless platform fuels the consumer IoT market. IoT in the consumer electronics market provides many wearables which can be utilized for personal healthcare purposes as these devices can easily monitor important signs like pulse rate, body temperature, respiration rate, blood pressure, and others. These devices are connected to the smartphones of the clients, and the data are gathered in the app associated with it.


IoT devices are also utilized to ensure the safety and health of pets like health and activity trackers, invisible fences, smart feeders, and real-time GPS trackers. These devices make sure that pets are not lost and let their owner know how fit and healthy their pets are. These devices can help to schedule their playtime medication and food. The consumer IoT is also useful in asset tracking, allowing users to attach trackers to crucial assets that are likely to be lost or stolen. Thus, driving the IoT in Consumer Electronics market revenue.


IoT in Consumer Electronics Market Segment Insights:


IoT in Consumer Electronics Type Insights


The IoT in Consumer Electronics Market segmentation, based on type, includes Smart TVs, Smartphones, Wearable Devices, Kitchen Appliances, and Others. The smartphone segment dominated the market, accounting for the largest market revenue in IoT in Consumer electronics owing to the adoption of digital wallets increasingly. Further, the technological advancements in smartphones will help them to hold support several transactions and technologies and offer smooth, on-demand access to alternative digital assets.


IoT in Consumer Electronics Connectivity Insights


The IoT in Consumer Electronics Market segmentation, based on connectivity, includes Bluetooth, NFC, Wi-Fi, and Others. The Wi-Fi segment dominates the market for the connectivity segment of IoT in Consumer Electronics. The Wi-Fi offers easy access and short-range wireless connectivity in place of the recently employed Ethernet-based communication. All smart gadgets, inclusive of smartwatches, TVs, refrigerators, and other smart devices connected to a single Wi-Fi device, cloud TV, monitoring, and managing the connected devices became simple because of its simplicity and capability to minimize spectrum connectivity prices.


Figure 1: IoT in Consumer Electronics Market, by Connectivity, 2022 & 2032 (USD Billion)


IoT in Consumer Electronics Market, by Connectivity, 2022 & 2032 (USD Billi


Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review


IoT in Consumer Electronics Regional Insights


By region, the study gives market insights into the North America, Europe, Asia-Pacific, and the Rest of the World. The North American IoT in the Consumer Electronics market area dominates this market because of the rising demand for digital technologies and ongoing technological breakthroughs. Further, the firm infrastructure also motivates market expansion by allowing the utilization of cutting-edge technologies. The US is the largest contributor of the IoT in the consumer electronics market for the North American region.


Further, the prime countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, Japan, India, China, Australia, South Korea, and Brazil.


Figure 2: IoT in Consumer Electronics Market SHARE BY REGION 2022 (USD Billion)


IoT in Consumer Electronics Market SHARE BY REGION 2022 (USD Billion)


Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review


The Asia-Pacific IoT in Consumer Electronics Market accounts for the second-largest market revenue due to the market being fueled by the extensive use of the internet by businesses and large expenses made by local firms, people, and industries. Moreover, China’s IoT in the Consumer Electronics market held the largest market revenue, and the Indian IoT in the Consumer Electronics market was the fastest-growing market in the Asia-Pacific region.


Europe IoT in the Consumer Electronics market is expected to grow at the rapid CAGR from 2023 to 2032. This is due to increasing demand for digital technologies and rising technical advancements. Further, the German IoT in the Consumer Electronics market held the largest market revenue, and the UK IoT in the Consumer Electronics market was the fastest-growing market in the European region.


IoT in Consumer Electronics Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development in order to expand their product lines, which will help the IoT in the Consumer Electronics market grow even more. Market players are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, higher investments, mergers and acquisitions, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, IoT in the Consumer Electronics industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global IoT in the Consumer Electronics industry to benefit clients and increase the market sector. In recent years, the IoT in the Consumer Electronics industry has offered some of the most significant advantages to network connectivity. Major players in the IoT in the Consumer Electronics market, including Skylo Technologies Inc., Loriot, Alliot Technologies, Intel Corporation, Microsoft Corporation, Sony Corporation, IBM Corporation, Cisco Systems, Amazon Web, Services, Westbase.io., and others, are attempting to increase market demand by investing in research and development operations.


Skylo Technologies Inc. offers a satellite network solution for IoT connectivity. The company provides a geostationary satellite architecture that offers two-way connectivity. It offers a portable, integrated satellite transceiver and IoT hub which accumulates the data from offline sensors and distributes that data to the cloud. The company also provides a data platform that allows customers to access and manage hubs remotely. In March 2023, Non-Terrestrial Network (NTN) service provider and Monogoto, the Cloud-based network provider, Skylo Technologies, came up with an agreement to offer accessible and affordable solutions for NB-IoT Satellite connectivity for tracking products. The inclusion of the same hardware for both satellite and terrestrial communication will assist in expanding connectivity to the areas that were not accessible earlier, and regular software updates would be offered owing to the through of the terrestrial networks.


Loriot, founded in the year 2015, is a company that offers cloud-based gateways and servers for IoT, offering public, community, and private network IoT servers. The properties of the products provided are multitenancy, network latency management, and compatibility. Several gateways compatible are Multitech, Cisco, Gemtek, and others. The company also offers real-time data streaming to IoT platforms on Cloud like IBM Bluemix IoT, Amazon AWS IoT, and Microsoft Azure IoT. In November 2022, Loriot signed a contract with Disrupt-X, a UAE-based IoT platform for promoting IoT dissemination in Europe and other regions. The companies will invest in developing smart solutions to deliver innovative IoT products and service designs for the commercial, industrial, and residential sectors.


Key Companies in the IoT in the Consumer Electronics market include




  • Skylo Technologies Inc.




  • Loriot




  • Alliot Technologies




  • Intel Corporation




  • Microsoft Corporation




  • Sony Corporation




  • IBM Corporation




  • Cisco Systems




  • Amazon Web, Services




  • Westbase.io.




IoT in Consumer Electronics Industry Developments


March 2022: KaraMD announced Pure Health Apple Cider Vinegar Gummies, a vegan gummy aimed to aid ketosis, digestion regulation, weight management, and encourage greater levels of energy.December 2022: Vodafone UK and Alliot Technologies partnered to offer NB-IoT connectivity throughout the UK. The network of Vodafone will boost offerings of Alliot with scale, efficiency, and innovation. With this partnership, the investment will be made by Alliot in the latest technology to ensure an excellent experience for its clients, establishing them as the only NB-IoT connectivity provider in the UK.February 2023: Westbase.io. And Taoglas, the IoT distributor, partnered in order to offer innovative 4G/5G and IoT solutions to its customers in the European region. This will provide customers with reliable and high-performance solutions throughout construction, emergency services, logistics, connected health, smart cities, and other demanding applications.

IoT in Consumer Electronics Market Segmentation:


IoT in Consumer Electronics Type Outlook




  • Smart TV




  • Smartphones




  • Wearable Devices




  • Kitchen Appliances




  • Others




IoT in Consumer Electronics Connectivity Outlook




  • Bluetooth




  • NFC




  • Wi-Fi




  • Others




IoT in Consumer Electronics Regional Outlook




  • North America



    • US

    • Canada






  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific






  • Rest of the World




    • Middle East




    • Africa




    • Latin America







Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 48.9 Billion
Market Size 2023 USD 57.7 Billion
Market Size 2032 USD 216.8 Billion
Compound Annual Growth Rate (CAGR) 18.00% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, The Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Connectivity, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, Japan, India, China, Australia, South Korea, and Brazil
Key Companies Profiled Skylo Technologies Inc., Loriot, Alliot Technologies, Intel Corporation, Microsoft Corporation, Sony Corporation, IBM Corporation, Cisco Systems, Amazon web, Services, Westbase.io.  
Key Market Opportunities Increased government investment in IoT businesses.
Key Market Dynamics Rising utilization of IoT in smart devices and adoption with changing lifestyles.


Frequently Asked Questions (FAQ) :

The IoT in Consumer Electronics Market size was valued at USD 48.9 Billion in 2022.

The global market is foreseen to grow at a CAGR of 18.00% during the forecast period, 2023-2032.

The key players in the market are Skylo Technologies Inc., Loriot, Alliot Technologies, Intel Corporation, Microsoft Corporation, Sony Corporation, IBM Corporation, Cisco Systems, Amazon Web, Services, and Westbase.io.

The smartphone category dominated the market in 2022.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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