TELECOMMUNICATIONS

Internet of Things (IoT) total annual revenue worldwide

from 2020 to 2030 (in billion U.S. dollars)
Internet of Things (IoT) total annual revenue worldwide from 2020 to 2030 (in billion U.S. dollars)
IoT global annual revenue 2020-2030

700

621.6
600 570.6

520.6
500 472.3
Revenue in billion U.S. dollars

425.4
400 380.1
336
293.2
300
251.6
213.1
200 181.5

100

0
2020 2021 2022* 2023* 2024* 2025* 2026* 2027* 2028* 2029* 2030*

Note(s): Worldwide; 2020 to 2022

Further information regarding this statistic can be found on page 8.
2 Source(s): Transforma Insights; ID 1194709
Internet of Things (IoT) total annual revenue worldwide from 2020 to 2030 (in billion U.S. dollars)
IoT global annual revenue 2020-2030

700 Your Headline

Your Notes:
621.6
600 570.6

520.6
500 472.3
Revenue in billion U.S. dollars

425.4
400 380.1
336
293.2
300
251.6
213.1
200 181.5

100

0
2020 2021 2022* 2023* 2024* 2025* 2026* 2027* 2028* 2029* 2030*

Note(s): Worldwide; 2020 to 2022

Further information regarding this statistic can be found on page 8.
3 Source(s): Transforma Insights; ID 1194709
Internet of Things (IoT) total annual revenue worldwide from 2020 to 2030 (in billion U.S. dollars)
IoT global annual revenue 2020-2030

Revenue in billion U.S. dollars

0 100 200 300 400 500 600 700

2020 181.5

2021 213.1

2022* 251.6

2023* 293.2

2024* 336

2025* 380.1

2026* 425.4

2027* 472.3

2028* 520.6

2029* 570.6

2030* 621.6

Note(s): Worldwide; 2020 to 2022

Further information regarding this statistic can be found on page 8.
4 Source(s): Transforma Insights; ID 1194709
Internet of Things (IoT) total annual revenue worldwide from 2020 to 2030 (in billion U.S. dollars)
IoT global annual revenue 2020-2030

Revenue in billion U.S. dollars Your Headline

Your Notes:
0 100 200 300 400 500 600 700

2020 181.5

2021 213.1

2022* 251.6

2023* 293.2

2024* 336

2025* 380.1

2026* 425.4

2027* 472.3

2028* 520.6

2029* 570.6

2030* 621.6

Note(s): Worldwide; 2020 to 2022

Further information regarding this statistic can be found on page 8.
5 Source(s): Transforma Insights; ID 1194709
Internet of Things (IoT) total annual revenue worldwide from 2020 to 2030 (in billion U.S. dollars)
IoT global annual revenue 2020-2030

700

621.6

600 570.6

520.6
Revenue in billion U.S. dollars

500 472.3

425.4

400 380.1

336

293.2
300
251.6
213.1
200 181.5

100
2020 2021 2022* 2023* 2024* 2025* 2026* 2027* 2028* 2029* 2030*

Note(s): Worldwide; 2020 to 2022

Further information regarding this statistic can be found on page 8.
6 Source(s): Transforma Insights; ID 1194709
Internet of Things (IoT) total annual revenue worldwide from 2020 to 2030 (in billion U.S. dollars)
IoT global annual revenue 2020-2030

700 Your Headline

Your Notes:

621.6

600 570.6

520.6
Revenue in billion U.S. dollars

500 472.3

425.4

400 380.1

336

293.2
300
251.6
213.1
200 181.5

100
2020 2021 2022* 2023* 2024* 2025* 2026* 2027* 2028* 2029* 2030*

Note(s): Worldwide; 2020 to 2022

Further information regarding this statistic can be found on page 8.
7 Source(s): Transforma Insights; ID 1194709
Internet of Things (IoT) total annual revenue worldwide from 2020 to 2030 (in billion U.S. dollars)
IoT global annual revenue 2020-2030

Description
Source and methodology information
The total Internet of Things (IoT) market worldwide was worth around 182 billion U.S. dollars in 2020, and is
Source(s) Transforma Insights forecast to rise to more than 621 billion U.S. dollars in 2030, tripling its revenue in ten years. Not only this, but
the number of IoT connected devices worldwide is forecast to triple during this span in time.
Conducted by Transforma Insights

Survey period 2020 to 2022

Region(s) Worldwide

Number of respondents n.a.

Major verticals and use cases
Age group n.a.

Special characteristics n.a.

Published by Transforma Insights All types of industry verticals and consumer markets use IoT devices, with the consumer segment accounting
for the largest share of the IoT devices market with approximately 35 percent of the total IoT device market in
Publication date July 2023 2020. This share is projected to grow over the next ten years to around 45 percent. Smartphones are the most
commonly used devices in the IoT consumer internet and media devices segment, acting as connectors
Original source Transforma Insights between many smart devices. Connected vehicles, payment terminals, smart grid, building automation, CCTV,
and security and fire alarms are other IoT use cases where global revenue is projected to reach, and in many
Website URL visit the website cases surpass, the mark of 50 billion U.S. dollars.

Notes: *Forecast

IoT revenue by region

The region with the largest share of the IoT market is China, with North America and Europe coming in at a
distant second and third in 2020. Over the next ten years, the market is forecast to lose some footing in the
Greater China area, with both North America and Europe closing the gap in terms of revenue revenues.