IoT apps

The IoT market continues its meteoric growth, reaching a new milestone in 2025

  • According to data provided by AltIndex, the IoT (Internet of Things) market continues its impressive growth.
  • After doubling since 2018, the global IoT market is set to reach $1 trillion by 2025.

 
Boosted by data processing tools based on Artificial Intelligence (AI) techniques and 5G communications, IoT technologies enable a wide range of devices and equipment to be connected in the home and in factories, providing real-time information.

The main mission of IoT technologies is to deploy a network of self-declaring connected devices that can communicate with each other and with users in real time. These technologies have found their way into automation, monitoring and control, and process analysis. They have thus become essential in a variety of business sectors, as well as in factories implementing Industry 4.0 principles.

Number of IoT connections worldwide (in billions), from 2018 to 2028.

Since 2021, the number of IoT connections has more than doubled, from 9.2 billion to 23.1 billion expected this year. By the end of the decade, this number is expected to climb by more than 70%, to nearly 40 billion.

With increased demand for IoT solutions across all industrial sectors, the overall market has thus doubled since 2018.

According to a study by Statista Market, 2025 marks the fifth consecutive year of double-digit growth in the IoT sector. Since 2021, the market has grown at a compound annual growth rate (CAGR) of 12%. Its increase of around $100 billion a year, has propelled it onto the list of billion-dollar business sectors.

Evolution of the global IoT market from 2022 to 2029 in billions of US dollars.

According to Statista, global IoT revenues are set to grow by 11.8% to reach $1.05 trillion this year, the highest figure this market has ever seen. The industrial and consumer segments of the IoT will be the main drivers of this growth. These two segments are expected to grow by 15% and 13% to reach $275 billion and $235 billion in revenues respectively.

The automotive IoT sector, the second largest in the market, is expected to grow by 9% to $274 billion. In the future, Statista expects global IoT revenues to continue to grow by around $120 billion a year. It is expected to reach a value of over $1.5 trillion by the end of the decade.