IoT market to exceed $1.1 trillion by 2030

According to MarketsandMarkets, the global IoT technology market is projected to grow from USD 959.3 billion in 2025 to USD 1,148.6 billion by 2030, at a CAGR of 3.7%, driven by connected devices, advanced connectivity, and automation. Key segments include processors, wearables, and industrial applications, impacting component suppliers, OEMs, and system developers.

Connected devices enable real-time monitoring and automation, while 5G, cloud computing, and AI further enhance IoT capabilities. Government initiatives in digital infrastructure and smart cities are also accelerating adoption in smart homes, wearables, industrial automation, and healthcare.

Processors, including microcontrollers, application processors, and DSPs, are expected to hold the largest market share, with strategies split between high-performance premium products and low-power, cost-effective chips. Wearables are the fastest-growing consumer segment, integrating health tracking, multimedia, and communication functions.

The Asia-Pacific region is expected to see the fastest growth through 2030, fueled by digital transformation, 5G investment, and a tech-savvy population.

https://www.eenewseurope.com/en/iot-market-to-exceed-1-1-trillion-by-2030/