What is the current IoT Devices Market size?

The IoT Devices Market is projected to register a CAGR of 23.25% during the forecast period (2024-2029) Read More

Who are the key players in IoT Devices Market?

Apple Inc., ABB Limited, Cisco Systems Inc, Google Inc. (Alphabet) and Samsung Electronics Co. Limited are the major companies operating in the IoT Devices Market. Read More

Which is the fastest growing region in IoT Devices Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in IoT Devices Market?

In 2024, the North America accounts for the largest market share in IoT Devices Market. Read More

What years does this IoT Devices Market cover?

The report covers the IoT Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the IoT Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

IoT Devices Market - Size, Share & Trends Analysis

IoT Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Connected IoT Devices Market is segmented by application type (connected & smart home, medical IoT, connected car, smart cities, industrial IoT, personal IoT), connectivity type (WPAN, WLAN, LPWA, cellular/M2M), and geography. The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.

IoT Devices Industry Overview

The IoT devices market is highly fragmented. Some prominent players include Apple Inc., Google Inc. (Alphabet), and Samsung Electronics Co. Limited. Players in the market are adopting strategies such as partnerships, joint ventures, and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

In November 2022, Samsung India unveiled its new Internet of Things (IoT)-enabled air purifiers. The new air purifier line contains two models, AX46 and AX32, with a one-button operation and guarantees to remove 99.97% of nano-sized particles, ultrafine dust, germs, and allergies. They also claim to easily remove potentially hazardous volatile organic compounds (VOCs), such as formaldehyde, ensuring that customers breathe clean air. Furthermore, Samsung announced SmartThings Home Life in August 2022, and the updated family hub links customers worldwide to an ecosystem of smarter living solutions that expand their home life experience.

In September 2022, Honeywell and Internet of Things Technologies Company (IoT-squared), a joint venture between Saudi Arabia's Public Investment Fund (PIF) and STC Group (STC), signed a Memorandum of Understanding (MoU) to advance the fields of logistics platforms, sustainable cities, and technologies which would drive the digitalization in Saudi Arabia. The strategic MoU supports the goals established in Saudi Vision 2030 for smart city development and expanding technology adoption in society.