What is IoT Device?

The IoT Device Market encompasses the development, deployment, and integration of connected devices that enable real-time data exchange, remote monitoring, and automation across industries. These devices include sensors, actuators, and embedded systems that enhance operational efficiency, deliver actionable insights, and create innovative user experiences. From consumer electronics to industrial applications, IoT devices form the backbone of the broader Internet of Things ecosystem.

The IoT device market is transforming industries by enabling new revenue streams through advanced analytics and automation. It presents an easy path for companies to adopt cutting-edge solutions with scalable, plug-and-play IoT devices. These devices ensure safe operations by providing real-time insights that reduce downtime, improve predictive maintenance, and enhance security. The market also holds big potential for expanding IoT applications across verticals like healthcare, automotive, and agriculture, creating substantial growth opportunities.

Market Size:

IoT Device Market was valued at USD 130.8 billion in 2024 and is projected to reach a market size of USD 390.39 billion by 2030 at a CAGR of 20%.

Key Companies:

•    Smith Micro Software, Inc.
•    IBM Corporation
•    Bosch Security Systems GmbH
•    Aeris Communications, Inc.
•    Advantech Co. Ltd.
•    Sigfox
•    Quectel
•    Qualcomm
•    Renesas Electronics Corporation
•    Texas Instruments Inc.
•    Cisco
•    Cypress Semiconductor Corporation
•    Intel Corporation
•    MediaTek Inc.
•    Microchip Technology Inc.
•    Microsoft Corporation
•    NXP Semiconductors N.V.

Case Study:

Qualcomm’s IoT platform powers smart city infrastructure with connected devices that optimize energy usage and improve traffic flow. Their connected sensors offer real-time data analysis that contributes to cost savings and sustainability, making cities smarter and more efficient.

Popularity & Key Statistics:

•    70% of businesses are expected to integrate IoT devices by 2026.
•    IoT devices are projected to reduce operational costs by 20-30% for companies adopting them.
•    Demand for connected healthcare devices has surged by 45%, driven by increased health monitoring needs.

Market Segmentation:

By Type

•    Hardware
o    Sensors
o    Beacons
o    Smart Shelves
o    Point of Sale (POS) Devices
o    RFID Tags
o    Cameras and Surveillance Systems

•    Software
o    Analytics and Reporting Software
o    Supply Chain Management Software
o    Customer Experience Management Software
o    Inventory Management Software
o    Security Software
o    IoT Platform Software

•    Services
o    Consulting Services
o    System Integration
o    Deployment & Support Services
o    Managed Services

By End User

•    Supermarkets and Hypermarkets
o    Smart Inventory Management
o    Personalized Customer Experience
o    Supply Chain Optimization

•    Specialty Stores
o    Smart Fitting Rooms
o    RFID-based Product Tracking
o    In-store Experience Enhancements

•    Convenience Stores
o    Smart Shelving
o    Real-time Inventory Tracking
o    Energy Management Solutions

•    E-commerce
o    Order Fulfillment Optimization
o    Smart Logistics
o    Customer Behavior Analytics

•    Department Stores
o    Personalized Marketing
o    In-store Navigation Systems
o    Customer Service Automation

•    Automated Vending Machines
o    IoT-Enabled Vending
o    Remote Monitoring
o    Customer Interaction Solutions

•    Fashion and Apparel
o    Smart Fitting Rooms
o    Inventory and Supply Chain Management
o    Personalized Recommendations

What’s in It for You?

•    Uncover key trends shaping the future of IoT device technologies.
•    Discover high-growth areas such as automotive, industrial automation, and smart cities.
•    Identify key IoT device manufacturers and suppliers driving innovation.
•    Understand the evolving regulatory landscape and its impact on IoT adoption.
•    Gain insights into how IoT devices are driving business transformation and creating new revenue models.