IoT global revenue 2020-2030, by vertical

Published by
Lionel Sujay Vailshery,
May 29, 2024
The total Internet of Things (IoT) market in 2021 was worth around 181 billion U.S. dollars, and is set to rise to more than 622 billion U.S. dollars in 2030. The consumer sector continues to dominate, and is forecast to generate 183 billion U.S. dollars in revenue by 2030.

Internet of Things (IoT) revenue worldwide from 2020 to 2030 (in billion U.S. dollars), by vertical

Characteristic202020212022*2023*2024*2025*2026*2027*2028*2029*2030*
Agriculture, Forestry & Fishing 2 2.3 2.7 3.2 3.7 4.3 5 5.8 6.7 7.7 8.9
Mining & Quarrying 0.6 0.6 0.7 0.7 0.8 0.8 0.9 0.9 1 1 1.1
Manufacturing 4.3 4.6 5.5 6.5 7.5 8.6 9.8 11.2 12.6 14 15.5
Electricity, Gas, Steam & A/C 12.6 15.1 18 20.7 23.4 26.1 28.7 31.2 33.6 35.9 37.9
Water Supply & Waste Management 1.7 2.1 2.7 3.4 4.2 5 5.8 6.5 7.2 7.9 8.5
Construction 0.6 0.6 0.7 0.8 0.9 1 1.1 1.2 1.2 1.3 1.4
Retail & Wholesale 20.6 22.1 25.2 28.2 30.5 32.6 34.4 36 37.6 39 40.5
Transportation & Storage 19.7 22.5 25.6 29 32.3 35.7 39.2 42.6 46.1 49.7 53.3
Accommodation & Food Service 4 4.3 5.1 5.9 6.6 7.2 7.7 8.2 8.7 9.1 9.6
Information & Communication 0 0 0 0 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Finance & Insurance 3.9 4.5 5.2 6.2 7.1 8.1 9.1 10.2 11.4 12.6 13.9
Professional, Scientific & Technical 0.2 0.2 0.3 0.3 0.4 0.5 0.6 0.6 0.7 0.9 1
Administrative 5.5 6.6 7.9 9.5 11.2 13.2 15.4 17.8 20.3 22.8 25.2
Showing entries 1 to 13 (20 entries in total)

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Release date

July 2022

Region

Worldwide

Survey time period

2020 to 2022

Supplementary notes

*Forecast

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