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Number of Active IOT Devices till 2030

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At the top of 2019 there have been 7.6 billion active IoT devices, a figure which can grow to 24.1 billion in 2030, a CAGR of 11%, consistent with a search published by Transforma Insights.

Short-range technologies, like Wi-Fi, Bluetooth, and Zigbee, will dominate connections, accounting for 72% in 2030, largely unchanged compared to the 74% it accounts for today.

iot devices connectivity
image credit pixabay

Public networks growth

Public networks, which are dominated by cellular networks, will grow from 1.2 billion connections to 4.7 billion in 2030, growing market share from 16% to twenty. Private networks account for the balance of connections, 10% in 2019 and eight in 2030.

In revenue terms, the entire IoT market in 2019 was worth $465 billion, a figure which can rise to $1.5 trillion in 2030. Services, including connectivity, will account for 66% of spend, with the rest accounted for by hardware, within the sort of active IoT devices, modules, and gateways.

The consumer sector to dominate in terms of connected devices and finance

The consumer sector will dominate in terms of connected IOT devices, accounting for 65% of all connections, up from 62% in 2019. Of the enterprise segment in 2030, 34% of devices are going to be accounted for by ‘cross-vertical’ use cases like generic track-and-trace, office equipment, and fleet vehicles, 31% by utilities, most prominently smart meters, 5% by transport and logistics, 4% by the government, 4% for agriculture, and three each for financial services and retail/wholesale.

The single biggest use case is Consumer Internet & Media devices, accounting for 1/3 of all IOT devices in 2030. subsequent largest is sensible Grid, including smart meters, representing 14% of connections. Connected Vehicles, dominated by connected cars, is that the third biggest category, representing 7% of the worldwide installed base.

In financial terms, the most important vertical sector is consumer, generating $652 billion in revenue, or 43% of the entire market price. Cross-vertical applications account for twenty-four. The remaining 33% is sector-specific applications across sectors like energy, transport, retail, and healthcare.

“One of the advantages of building a highly granular set of forecasts is that we will uncover striking trends, like the large $500 billion revenue opportunity related to a various range of niche vertical-specific applications,” said Transforma Insights Founding Partner Matt Hatton.

Geographically, China, North America, and Europe dominate, accounting for 26%, 24%, and 23% respectively of the entire value of the IoT market in 2030.

 

Source: Helpnetsecurity

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