Top 50 Companies in Internet of Things (IoT) Market: Statistics Report Till 2035
RELEASE DATE: Aug 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Internet of Things Market Size is projected To Grow from USD 434.1 Billion in 2024 to USD 5060.7 Billion by 2035, at a CAGR of 25.02% during the forecast period 2025–2035. The market for Internet of Things (IoT)s is in greater demand as the need for connected devices and systems is growing as a result of urbanisation and technology improvements, driving the growing adoption of smart homes and cities. Furthermore, improved data analytics and automation are made possible by the combination of IoT with AI and machine learning, which accelerates market expansion. The development of IoT technology is also greatly aided by government programs and expenditures in digital infrastructure.
Introduction
The Internet of Things (IoT) Size is a network of physical objects embedded with sensors and software that enables these devices to connect and exchange data over the internet. It has emerged as one of the most transformative technologies of the 21st century. Everyday items like kitchen appliances, vehicles, thermostats, and baby monitors can now communicate seamlessly through IoT, enhancing connectivity between individuals, processes, and things. The growing number of smart city projects, rising demand in the automotive sector, and expansion of online IoT product distributors are major drivers of the global IoT market. The rapid rise of e-commerce, fueled by smartphone ubiquity and customer preference for online shopping, also supports IoT growth. IoT devices can be monitored and controlled remotely via the internet or wireless protocols. Popular consumer products such as smart lighting, thermostats, security systems, and appliances are fueling market growth. Overall, IoT technology improves business operations by gathering and sharing data from connected devices, thereby enhancing customer experiences and accelerating market expansion.
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Internet of Things (IoT) Market Size & Statistics
- The Market Size for Internet of Things (IoT) Was Estimated to be worth USD 434.1 Billion in 2024.
- The Market Size is Going to Expand at a CAGR of 25.02% between 2025 and 2035.
- The Global Internet of Things (IoT) Market Size is anticipated to reach USD 5060.7 Billion by 2035.
- North America is expected to generate the highest demand during the forecast period in the Internet of Things (IoT) Market
- Asia Pacific is expected to grow the fastest during the forecast period in the Internet of Things (IoT) Market.
Regional growth and demand
Asia Pacific is expected to grow the fastest during the forecast period in the Internet of Things (IoT) market. The market for Internet of Things (IoT) is now growing in the Asia Pacific due to the adoption of new technologies and significant investments in smart city initiatives. Countries in the region, particularly China, are leading the way with extensive IoT deployments in smart city projects, encompassing areas such as transportation, energy management, and urban infrastructure. China's proactive approach has positioned it as the largest market for IoT in the region, with substantial government support and infrastructure development. While Japan has completed many of its smart city projects, other nations like India and Singapore are in various stages of development, contributing to the overall growth trajectory.
North America is expected to generate the highest demand during the forecast period in the Internet of Things (IoT) market. The Internet of Things (IoT) market with the quickest rate of growth throughout the study period is anticipated to be in North America. Broad use of networked devices, strong infrastructure, and cooperation between network, software, and hardware suppliers. Smart transport efforts in Canada are improving the efficiency and safety of commuters. Furthermore, Canadian companies are using IoT technologies to provide IoT infrastructure solutions and optimise operations. The growth of the IoT industry is aided by the region's profusion of public safety organisations, which also encourage the creation of smart citizen services.
Top 10 trends in the Internet of Things (IoT) Market
- Edge Computing Expansion
- 5G Integration
- AI and Machine Learning Integration
- IoT Security Enhancements
- IoT in Healthcare
- Smart Cities Development
- IoT in Agriculture
- Industrial IoT (IIoT) Advancements
- Sustainability and Energy-Efficient IoT
- Immersive Experiences with IoT
1. Edge Computing Expansion
Edge computing is gaining popularity because it uses less bandwidth and delay by processing data closer to its source. This is highly beneficial for real-time applications such as autonomous vehicles and industrial automation. By evaluating data locally, edge computing increases decision making speed and efficiency, enabling faster responses and less reliance on centralised cloud servers.
2. 5G Integration
The IoT is transforming due to the introduction of 5G networks, which provide lower latency, quicker data transfer rates, and the capacity to connect a large number of devices at once. Real-time data processing and smooth transmission are made possible by this improved connectivity, which facilitates sophisticated IoT applications in smart cities, driverless cars, and industrial automation.
3. AI and Machine Learning Integration
Integration of AI and ML is reshaping industries by fusing the advantages of both fields into intelligent, smooth systems. Multimodal AI, which integrates speech, pictures, video, and text for deeper AI comprehension, is a noteworthy trend. At the same time, AutoML and low-code platforms are democratising access by making it simple for non-experts to create models. Edge AI is becoming more popular, allowing for on-device, real-time processing that improves performance and privacy.
4. IoT Security Enhancements
The proliferation of IoT devices, ranging from industrial systems to smart homes, makes security improvements more important than ever. Advanced encryption techniques, zero-trust architectures, and AI-powered threat detection are examples of emerging solutions to counter complex and botnet-driven attacks. Security-by-design requirements are also being pushed towards producers by regulatory frameworks such as the UK Product Security Regulations and the EU Cyber Resilience Act.
5. IoT in Healthcare
In order to facilitate real-time data transmission and early intervention, the Internet of Things (IoT) is revolutionising healthcare by enabling remote patient monitoring through wearable sensors and smart medical devices that continuously check vital signs, glucose levels, prescription intake, and even mood. Hospitals are using smart beds and asset-tracking systems more and more to improve safety and streamline operations. These developments promote efficiency in both clinical and residential settings, increase care personalisation, improve outcomes, and lower readmission rates.
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Top 19 Companies Leading the Internet of Things (IoT) Market
- Siemens
- Microsoft
- PARTICLE
- HQ Software
- AWS
- Oracle
- Cisco
- Qualcomm
- LOSANT
- LITMUS AUTOMATION
- IBM
- Intel
- Hitachi
- GE Digital
- ARM
- Software AG
- ClearBlade
- Ayla Networks
- Others
1. Siemens
Headquarters: Munich, Germany
The industrial IoT-as-a-service platform Siemens, now called InsightsHub, was created by Siemens AG, which has its headquarters in Munich, Germany. This cloud-native technology, which is run by Siemens Digital Industries, which has its global headquarters in Nuremberg, Germany, allows for safe, scalable connectivity between machines, plants, systems, and products. It gathers real-time sensor data and facilitates edge computing, digital twins, advanced analytics, and AI-powered insights all inside an open PaaS ecosystem that is connected to Alibaba Cloud, AWS, and Azure.
2. Microsoft
Headquarters: Redmond, Washington, USA
A global leader in technology, Microsoft Corporation offers a wide range of services in the areas of software, hardware, cloud computing, artificial intelligence, and enterprise. Windows, Microsoft Office 365, the Azure cloud platform, Xbox game consoles, and Surface tablets are some of its best-known products. In addition, the business runs GitHub and LinkedIn and provides enterprise products like Teams and Dynamics 365. Microsoft supports individuals, organisations, and developers across industries globally by strategically emphasising innovation in fields including artificial intelligence, intelligent cloud, and productivity.
3. PARTICLE
Headquarters: San Francisco, California, USA
Particle offers a comprehensive IoT Platform-as-a-Service designed for companies and developers who want to create, connect, and control smart devices. A scalable cloud environment, worldwide connectivity such as Wi-Fi, cellular, Lorawan, satellite, IoT hardware, e.g., development kits, system-on-modules, asset trackers, and tools for over-the-air firmware updates, device monitoring, and real-time data insights are all included in the platform. Fortune 500 organisations, NASA, SpaceX, Keurig, Jacuzzi, and others trust Particle, which facilitates IoT innovation from prototyping to large-scale manufacturing.
4. HQ Software
Headquarters: Tallinn, Harju maakond, Estonia
HQ Software is a custom software development company that offers end-to-end solutions in a number of areas, such as online and mobile application development, AI, AR, IoT, software re-engineering, and consultancy. Finance, healthcare, e-learning, telecom, real estate, insurance, and e-commerce are among the industries it supports. From full-cycle application development and prototyping to integration and continuous improvements, the company offers customised services. HQ Software has collaborated with prominent entities such as the United Nations, HTC, BBC, SEGA, and Skoda.
5. AWS
Headquarters: Washington, USA
The extensive portfolio of more than 200 on-demand services provided by AWS, Amazon's full-service cloud computing subsidiary, includes computation, storage, databases, AI, IoT, analytics, security, media, and content delivery. It enables businesses, from start-ups to government agencies and corporations, to scale quickly, improve agility, cut costs, and experiment safely by utilising a global infrastructure of regions, availability zones, and edge locations.
Are you ready to discover more about the Internet of Things (IoT) market?
The report provides an in-depth analysis of the leading companies operating in the global Internet of Things (IoT) market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- Siemens
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- Microsoft
- PARTICLE
- HQ Software
- AWS
- Oracle
- Cisco
- Qualcomm
- LOSANT
- Others.
Conclusion
The Internet of Things (IoT) Market Size extensive use in smart cities, e-commerce, smart homes, and automobiles, is changing the way individuals, systems, and devices interact. With innovations like predictive car analytics, smart parking, and real-time inventory tracking, and supported by AI, cloud, and 5G, IoT is revolutionising processes into smooth, data-driven systems. Supported by sustainability initiatives and intelligent automation, the IoT market is poised to transform spaces and experiences through eco-friendly innovation, efficiency, and agility.
About the Spherical Insights & Consulting
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