IoT market value in Italy 2016-2022, by field of application

The market value of the Internet of Things (IoT) sector has been experiencing steady growth in Italy, amounting to 8.3 billion euros in 2022, according to data provided by Osservatori Digital Innovation. The market value of the Smart Metering and Smart Asset Management sector increased from 950 million euros to 1.3 billion euros between 2017 and 2022. The Smart Logistics segment played a smaller, albeit significant, role: its market value grew over the same period, reaching 715 million euros in 2022.

Are households becoming safer, smarter, eco-friendlier panopticons?

Smart meters allow for the real-time measurement and management of utility consumption. In Europe, Italy has been the first country to widely adopt this technology: as of 2013, more than 90 percent of households had a smart meter. Another popular application of IoT devices in Italy was in home security: according to a survey conducted in 2016, about one in ten owners of IoT devices had installed a home security system. However, the adoption of IoT devices was not devoid of controversy. About a quarter of Italians who did not own any smart home devices had privacy concerns, while 64 percent were put off by the price.

Industry opportunities

The industry sector showed some enthusiasm for IoT technologies. In 2016, about one in two medium-sized and large companies had implemented or were planning to implement an IoT project. The main drivers for IoT adoption in enterprises were increasing operational efficiency and obtaining more data to provide new services to customers.