International Internet of Things Value Projected to Cross a USD one trillion Mark by 2024

Dublin, Nov. 26, 2021 (GLOBE NEWSWIRE) -- The "Global Internet of Things Market and Trends 2021" report has been added to's offering.

The report titled "Global Internet of Things Market and Trends 2021" offers a comprehensive overview of the new developments in the Internet of Things market and related technologies worldwide and provides insights into the possible future industry developments. Among other findings, the publication reveals that around half of global companies' senior executives strongly believed that the Internet of Things is the technology that will play a crucial role in supporting companies in their recovery after COVID-19.

International Internet of Things value was forecasted to cross a USD one trillion mark by 2024

Defined as a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs), Internet of Things (IoT) offers the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.

Both consumers and businesses are increasingly adopting IoT for numerous purposes and the technology is being implemented rapidly across the globe. Moreover, by 2024, international IoT market revenue was calculated to cross a USD one trillion point and by 2030 the number of connected devices will likely reach nearly thirty billion worldwide. Furthermore, observing the trend, global companies' executives defined the incorporation of IoT into their business as an important strategic objective, according to the surveys cited in this publication.

Already in 2020, a major proportion of the IoT revenue worldwide was attributed to the industrial Internet of Things, with transportation equipment, machinery manufacturing, as well as computer and electronic products manufacturing as the leading sectors.

Western Europe is going by leaps and bounds in consumer IoT adoption

According to the 2021 forecast cited in this market report, the largest number of IoT connections in 2030 will be registered in Europe, as compared to other global regions. Following the same estimates, the region will be followed by North America, Asia, Latin America and Middle East & Africa. This, however, comes as no surprise, as already in 2021, almost nine in ten of all West European and more than eight in ten of all East European connectivity service suppliers were the fast wireless link required for IoT optimization.

Further, the adoption of consumer IoT, including Internet-connected home energy management, security- and safety connections, home appliances, virtual assistants, TV, and game consoles, was substantially higher in Western Europe than in other EU countries, with the Netherlands, Iceland, Norway, and the UK among the leaders.

Meanwhile, in the United States, half of the adults who had to work from home during COVID-19, purchased new smart home devices to advance their homes and improve the working conditions. Additionally, smart lighting, and smart security cameras or video doorbells were the top two smart home product categories that US adults planned to purchase within the H2 of 2020 and H1 2021. In Asia, meanwhile, the adoption of IoT is also progressing, and by 2030, Southeast Asia was forecasted to lead the regional IoT adoption level.

Report Coverage

  • This report covers the global Internet of Things (IoT) market. IoT is defined as a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. The report offers insights into the state of IoT technology in different regions across the globe, recent and possible future developments, consumer preferences, technological advances and more.
  • In addition to the global data, major global regions in worldwide IoT are covered in the report, including Europe, North America, Asia, Latin America and the Middle East & Africa. The current status of IoT itself and data availability varied by region and country.

Key Topics Covered:

1. Management Summary

2. Global Market Overview

  • Overview of the Trends on the IoT Market and IoT Business Applications, September 2021
  • Overview of the Current State of IoT Technologies and Trends, June 2021
  • Revenue of the Internet of Things Market, in USD billion, 2019 & 2020 & 2024f
  • Number of The Installed IoT Connections, in billions, 2019-2030f
  • Mapping of Sectors, by IoT Recurring Revenue, in USD million, and CARG, in %, 2020-2030f
  • Number of Connected IoT Devices, by Wide- and Short-Range Devices, in millions, 2017-2026f
  • Mobile Subscriptions Number, by Category, incl. LTE and 5G, in millions, 2019 & 2020 & 2026f
  • Total Data Traffic, in EB/Months, and Mobile Data Traffic, in GB/Month, per Device, 2019 & 2020 & 2026f
  • Top 5 Government IoT Endpoint Electronics and Communications Revenue, by Use Cases, in USD billions, 2019-2021
  • Technologies that are Expected to Support Companies in Recovering from COVID-19, in % of Senior Executives, Summer 2020
  • Industrial IoT Revenue, by Segments, in %, 2020
  • Industrial IoT Data Generation, by Regions, in %, 2020 & 2025f
  • Regions' Market Shares of Industrial IoT Devices, in %, 2020
  • Number of Smart Home Devices in Active Use, in billions, 2020 & 2025f
  • Smart Home Devices Shipments, by Product Type, in millions, and Market Share, in %, 2020 & 2025f
  • Share of Individual and by Subscription Smart Home Devices Purchases, in % of Total, 2025f
  • Share of Households with Smart Home Automation in Use, in % of Total, 2025f
  • Top 4 Regions/Countries by Unit Shipments of Smart Devices Growth Rate, 2020-2025f

3. Europe

3.1. Regional

3.2. United Kingdom

3.3. Germany

3.4. France

4. North America

4.1. Regional

4.2. United States

4.3. Canada

5. Asia

5.1. Regional

5.2. China

5.3. Japan

5.4. South Korea

6. Latin America

6.1. Regional

6.2. Brazil

7. Middle East and Africa

7.1. Regional

7.2. MENA

7.3. SSA

7.4. Saudi Arabia

7.5. Kuwait

Companies Mentioned

  • Alora Labs
  • Amazon
  • Ericson
  • Google
  • Guarana Technologies
  • Jellyfish Technologies
  • LG Electronics
  • Macadamian
  • MistyWest
  • Poliance Software Development
  • Samsung
  • Sidekick Interactive
  • Sony
  • TheAppLabb
  • Xiaomi

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