IoT forecast: connections, revenue and technology trends 2023–2032
03 April 2024 | Research
Ibraheem Kasujee | Mary Saunders
Forecast report | PPTX and PDF (17 slides); Excel | IoT Services
"China will drive the growth in the number of wireless IoT connections worldwide, which will pass 7 billion by 2032."
The total number of wireless IoT connections worldwide will increase from 2.9 billion at the end of 2022 to 7.3 billion in 2032. The worldwide growth rate (excluding China) will continue to be in the double digits throughout the forecast period, driven by increasing adoption in the automotive, utilities and smart buildings sectors.
This report provides:
- 10-year forecasts for the number of IoT connections and revenue, split by sector
- analysis of technology trends including the number of 2G, 3G/4G, 5G, NB-IoT, LTE-M and ‘other LPWA’ connections and connectivity service revenue worldwide, split by application
- an overview of the key industry sectors for IoT and their share of IoT connections and revenue
- data on the IoT revenue generated worldwide from hardware, applications and connectivity services.
Coverage
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Regions modelled
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Authors
Ibraheem Kasujee
Senior Analyst