Enterprise IoT Market Size
| Study Period | 2019 - 2030 |
| Market Size (2025) | USD 354.36 Million |
| Market Size (2030) | USD 691.62 Million |
| CAGR (2025 - 2030) | 14.31% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Enterprise IoT Market Analysis
The Enterprise IoT Market size is estimated at USD 354.36 million in 2025, and is expected to reach USD 691.62 million by 2030, at a CAGR of 14.31% during the forecast period (2025-2030).
- The enterprise Internet of Things (IoT) market has emerged as a transformative force across industries, leveraging connected devices and advanced analytics to enhance operational efficiency, reduce costs, and unlock new revenue streams. Enterprise IoT solutions encompass a broad spectrum of applications, including smart manufacturing, supply chain optimization, asset tracking, energy management, and predictive maintenance. As businesses increasingly recognize the value of IoT-enabled insights, the market has witnessed robust growth. The convergence of IoT with other cutting-edge technologies like artificial intelligence (AI), blockchain, and cloud computing has further amplified its potential, enabling organizations to automate complex processes and improve decision-making.
- A significant driver of the enterprise IoT market is the growing availability of affordable sensors, connectivity solutions, and computing power. Advancements in wireless technologies, such as 5G, have accelerated the adoption of IoT by providing faster, more reliable, and lower-latency networks to support billions of connected devices. Moreover, the proliferation of edge computing has allowed enterprises to process data closer to the source, reducing latency and improving real-time analytics. These developments are critical for industries like manufacturing, healthcare, and transportation, where rapid response times and localized decision-making are essential.
- Despite its rapid expansion, the enterprise IoT market faces several challenges. Security remains a top concern, as the interconnected nature of IoT devices increases vulnerability to cyberattacks and data breaches. Regulatory compliance and data privacy issues also pose hurdles, particularly in regions with stringent data protection laws. Additionally, integration complexities and a lack of interoperability among diverse IoT platforms can hinder adoption. Enterprises must also contend with the challenge of managing vast volumes of data generated by IoT devices, which requires robust data storage, processing, and management capabilities.
- The enterprise IoT market is poised for sustained growth, driven by increased investment in digital transformation and a focus on sustainability. Industries are leveraging IoT to monitor and optimize resource usage, reduce waste, and achieve sustainability goals. The rise of subscription-based IoT platforms and services is also enabling smaller enterprises to access advanced IoT capabilities without significant upfront costs. As businesses continue to harness IoT’s potential, the market is expected to evolve with greater emphasis on standards, interoperability, and solutions tailored to specific industry needs.
- In August 2024, Hayo, a global leader in digital solutions for governments, enterprises, and service providers, unveiled its worldwide Internet of Things (IoT) platform. This platform caters to both Machine-to-Machine (M2M) and consumer IoT applications, making it versatile for mobile network operators (MNOs) and enterprises alike. MNOs have the option to white label Hayo’s platform, allowing them to resell it under their brand and capitalize on the burgeoning IoT opportunities globally. Furthermore, the surge in subscription-based IoT platforms and services is democratizing access, enabling smaller enterprises to leverage advanced IoT capabilities without hefty initial investments. As businesses increasingly tap into IoT's vast potential, the market is poised to prioritize standards, interoperability, and industry-specific tailored solutions.
Enterprise IoT Market Trends
Hardware Components Dominate the Market
- Hardware devices form the backbone of the enterprise Internet of Things (IoT) market, facilitating the smooth collection, transmission, and analysis of data vital to IoT systems. Essential hardware components encompass sensors, connectivity modules, IoT gateways, and specialized devices tailored for specific applications. Sensors, being the most widely deployed in this market, gather real-time data on parameters like temperature, pressure, motion, and environmental conditions. These devices play a pivotal role in sectors such as manufacturing, agriculture, healthcare, and smart cities, where data-driven decisions are paramount for enhancing efficiency and productivity.
- As intermediaries between edge devices and centralized data systems, IoT gateways are vital in enterprise IoT deployments. They not only aggregate data from sensors but also process it locally when needed and securely transmit it to cloud platforms. This capability is crucial for scenarios demanding real-time analytics and swift decision-making. Moreover, with integrated security protocols, gateways safeguard the transmission of sensitive enterprise data. The growing prominence of edge computing underscores the significance of gateways, as they mitigate latency and bolster operational efficiency.
- In October 2024, Vantiva unveiled the Vantiva IoT Commercial Gateway, a network infrastructure tailored for commercial venues like self-storage units, multifamily residences, hotels, and retail spaces. Boasting triband Wi-Fi 6E and five distinct IoT radios, this gateway ensures unmatched site-wide connectivity, laying a secure and forward-looking groundwork for Vantiva’s Smart Spaces offerings.
- Another pivotal hardware element is the connectivity module, especially cellular IoT variants. Technologies such as LTE-M and NB-IoT have risen to prominence, lauded for their expansive coverage and energy efficiency. These traits render them perfect for uses like asset tracking, remote oversight, and smart metering. With enterprises leaning more towards IoT for asset monitoring and process automation, the appetite for dependable and scalable connectivity solutions is on the rise. As per GSMA, the global number of Internet of Things (IoT) connections is expected to almost linearly grow through the period from 2020 to 2030, with an expected number of about 24 billion enterprise IoT connections in 2030.
- However, deploying these hardware devices isn't without challenges. Issues like interoperability and ensuring device and protocol compatibility can be daunting. Many enterprises find it tough to mesh IoT hardware with older legacy systems, complicating the implementation journey. Furthermore, with rising security concerns over device vulnerabilities and potential data breaches, there's a pressing need for robust hardware-level protection mechanisms, including encryption and authentication protocols.
North America Accounts For the Major Share
- North America is at the forefront of the enterprise IoT (Internet of Things) revolution, spearheading digital transformation across diverse industries through advanced connectivity, analytics, and automation. The region boasts tech giants like Microsoft, Cisco, Amazon Web Services (AWS), and IBM, all of which are pivotal in offering enterprise-grade IoT solutions. These solutions empower industries, including manufacturing, logistics, energy, and healthcare, to boost efficiency, optimize resource use, and gain real-time operational insights.
- North America stands out in the industrial IoT (IIoT) landscape, leading the charge in adopting IoT-driven manufacturing systems, predictive maintenance, and supply chain enhancements. Companies are harnessing platforms like AWS IoT Core and Siemens MindSphere to monitor machinery health, avert downtimes, and fine-tune energy consumption. The region's strong infrastructure, coupled with the rollout of 5G networks, strengthens IIoT deployments, facilitating the low-latency communication vital for applications such as autonomous systems and factory robotics.
- In October 2024, at Embedded World North America, Qualcomm Technologies, Inc. unveiled a cutting-edge product lineup for the Internet of Things (IoT). This move underscores Qualcomm's commitment to the AI era, especially in industrial applications. Their new Qualcomm® IQ series processors cater to demanding safety-grade environments, addressing the needs of extreme industrial applications. Furthermore, Qualcomm's IoT Solutions Framework, leveraging the IQ series chipsets, integrates top-tier edge AI tools and reference applications. This combination aims to streamline development, deployment, and bolster operational efficiencies.
- Beyond manufacturing, sectors like energy and utilities are witnessing a transformation, thanks to enterprise IoT applications. In both the U.S. and Canada, smart grids, IoT-driven renewable energy asset monitoring, and advanced distribution networks are becoming the norm. The transportation and logistics sectors also benefit significantly from enterprise IoT, with connected sensors and gateways enhancing shipment tracking, fleet management, and route optimization.
- According to IFR data, industrial robot shipments in 2022 reached approximately 553,000 units globally, with projections indicating significant growth to around 718,000 by 2026. In North America, this growth is closely tied to the expanding enterprise IoT market, where industries increasingly adopt connected robotic systems to enhance automation, efficiency, and data-driven operations.
- However, North America's enterprise IoT landscape grapples with challenges like interoperability, security concerns, and regulatory intricacies. As enterprises strive to meld IoT systems with legacy infrastructures, they must prioritize data security and adhere to evolving IoT standards. To navigate these challenges, organizations like the Industrial Internet Consortium (IIC) and North American regulatory bodies are actively developing frameworks and guidelines.
Enterprise IoT Industry Overview
The enterprise IoT market is highly fragmented, with key players including Microsoft Corporation, Samsung Electronics Co., Ltd., Siemens AG, Cisco Systems, Inc., and Qualcomm Incorporated. The competitive landscape is marked by intense innovation as companies strive to offer advanced IoT solutions tailored to various industries. Major players focus on expanding their product portfolios, integrating AI and edge computing for smarter IoT ecosystems. Strategic partnerships and acquisitions are common, enabling firms to enhance their capabilities and market reach. Regional players also contribute significantly by addressing localized needs and regulatory requirements. Overall, competition fosters rapid technological advancements and drives the adoption of IoT in enterprise applications globally.
Enterprise IoT Market Leaders
-
Microsoft Corporation
-
Samsung Electronics Co., Ltd.
-
Siemens AG
-
Cisco Systems, Inc.
-
Qualcomm Incorporated
- *Disclaimer: Major Players sorted in no particular order
Enterprise IoT Market News
- September 2024: Ericsson unveiled two advanced routers—the Cradlepoint R980 and S400. These routers aim to empower enterprises with smooth, secure, and scalable connectivity, facilitating advanced applications like AI, computer vision, and data analysis in IoT settings and vehicle networks. By integrating with Ericsson’s NetCloud platform, which features NetCloud SASE Secure Connect, these routers ensure easy deployment, efficient management, and strong zero-trust security for extensive IoT and vehicle endpoints.
- September 2024: Global technology leader, Zoho Corporation unveiled 'Zoho IoT', a versatile low-code platform tailored for businesses to craft and implement bespoke IoT (Internet of Things) solutions. With Zoho IoT, companies gain intelligent insights and enhanced operational analysis, due to the platform's ability to seamlessly collect and manage IoT device data in real-time.
Enterprise IoT Industry Segmentation
The enterprise IoT market refers to the deployment of Internet of Things (IoT) technologies within businesses to connect devices, systems, and processes. It enables real-time data collection, analysis, and automation, improving operational efficiency and decision-making. This market spans various industries, including manufacturing, logistics, healthcare, and retail, fostering innovation and digital transformation.
The Enterprise IoT Market is segmented by offering (hardware (sensors, actuators, edge devices/gateways, networking equipment (routers, switches), and other hardware devices), software, services (professional services, managed services)), by enterprise size (large enterprises, small and medium enterprises), by connectivity (wired, wireless (cellular (3g, 4g LTE, 5g), wi-fi, Bluetooth/BLE, Zigbee, LoRaWAN, NB-IoT satellite communication), by industry vertical (manufacturing, energy & utilities, transportation & logistics, retail, healthcare, agriculture, hospitality, government and other industry verticals), and geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa). the market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Offering | Hardware | Sensors | |
| Actuators | |||
| Edge Devices/Gateways | |||
| Networking Equipment (routers, switches) | |||
| Other hardware devices | |||
| Software | |||
| Services | Professional Services | ||
| Managed Services | |||
| By Enterprise Size | Large Enterprises | ||
| Small and Medium Enterprises | |||
| By Connectivity | Wired | ||
| Wireless | Cellular (3G, 4G LTE, 5G) | ||
| Wi-Fi | |||
| Bluetooth/BLE | |||
| Zigbee | |||
| LoRaWAN | |||
| NB-IoT | |||
| Satellite Communication | |||
| By Industry Vertical | Manufacturing | ||
| Energy & Utilities | |||
| Transportation & Logistics | |||
| Retail | |||
| Healthcare | |||
| Agriculture | |||
| Hospitality | |||
| Government | |||
| Other Industry Verticals | |||
| By Geography*** | North America | ||
| Europe | |||
| Asia | |||
| Australia and New Zealand | |||
| Latin America | |||
| Middle East and Africa | |||
| Hardware | Sensors |
| Actuators | |
| Edge Devices/Gateways | |
| Networking Equipment (routers, switches) | |
| Other hardware devices | |
| Software | |
| Services | Professional Services |
| Managed Services |
| Large Enterprises |
| Small and Medium Enterprises |
| Wired | |
| Wireless | Cellular (3G, 4G LTE, 5G) |
| Wi-Fi | |
| Bluetooth/BLE | |
| Zigbee | |
| LoRaWAN | |
| NB-IoT | |
| Satellite Communication |
| Manufacturing |
| Energy & Utilities |
| Transportation & Logistics |
| Retail |
| Healthcare |
| Agriculture |
| Hospitality |
| Government |
| Other Industry Verticals |
| North America |
| Europe |
| Asia |
| Australia and New Zealand |
| Latin America |
| Middle East and Africa |
Enterprise IoT Market Research FAQs
How big is the Enterprise IoT Market?
The Enterprise IoT Market size is expected to reach USD 354.36 million in 2025 and grow at a CAGR of 14.31% to reach USD 691.62 million by 2030.
What is the current Enterprise IoT Market size?
In 2025, the Enterprise IoT Market size is expected to reach USD 354.36 million.
Who are the key players in Enterprise IoT Market?
Microsoft Corporation, Samsung Electronics Co., Ltd., Siemens AG, Cisco Systems, Inc. and Qualcomm Incorporated are the major companies operating in the Enterprise IoT Market.
Which is the fastest growing region in Enterprise IoT Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Enterprise IoT Market?
In 2025, the North America accounts for the largest market share in Enterprise IoT Market.
What years does this Enterprise IoT Market cover, and what was the market size in 2024?
In 2024, the Enterprise IoT Market size was estimated at USD 303.65 million. The report covers the Enterprise IoT Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Enterprise IoT Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Enterprise IoT Industry Report
Statistics for the 2025 Enterprise IoT market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Enterprise IoT analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
