The global market for Internet of things (IoT) end-user solutions is expected to grow to 212 billion U.S. dollars in size by the end of 2019. The technology reached 100 billion dollars in market revenue for the first time in 2017, and forecasts suggest that this figure will grow to around 1.6 trillion by 2025.
The Internet of Things
The Internet of Things (IoT) is a term used to describe the continually growing network of internet connected electronic devices that are in operation around the world today. These devices often share data and information in order to provide added convenience and control to consumers and, in some cases, even allow users automate simple processes such as ordering supplies. Tens of billions of these IoT connected devices already exist around the world and this number will only grow as internet connectivity begins to become a standard feature for a great number of electronics devices. Although heavily integrated into the consumer electronics market, IoT extends far beyond handheld devices and home appliances; IoT subsystems such as industrial internet and connected cities aim at automating factories and urban areas rather than just households. Digital virtual assistants such as Amazon’s Alexa and Google Assistant serve as the bridge between this network of interconnected devices and their human users.
Forecast end-user spending on IoT solutions worldwide from 2017 to 2025
(in billion U.S. dollars)
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Statista. (February 5, 2019). Forecast end-user spending on IoT solutions worldwide from 2017 to 2025 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 08, 2024, from https://www.statista.com/statistics/976313/global-iot-market-size/?ref=hackernoon.com
Statista. "Forecast end-user spending on IoT solutions worldwide from 2017 to 2025 (in billion U.S. dollars)." Chart. February 5, 2019. Statista. Accessed November 08, 2024. https://www.statista.com/statistics/976313/global-iot-market-size/?ref=hackernoon.com
Statista. (2019). Forecast end-user spending on IoT solutions worldwide from 2017 to 2025 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 08, 2024. https://www.statista.com/statistics/976313/global-iot-market-size/?ref=hackernoon.com
Statista. "Forecast End-user Spending on Iot Solutions Worldwide from 2017 to 2025 (in Billion U.S. Dollars)." Statista, Statista Inc., 5 Feb 2019, https://www.statista.com/statistics/976313/global-iot-market-size/?ref=hackernoon.com
Statista, Forecast end-user spending on IoT solutions worldwide from 2017 to 2025 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/976313/global-iot-market-size/?ref=hackernoon.com (last visited November 08, 2024)
Forecast end-user spending on IoT solutions worldwide from 2017 to 2025 (in billion U.S. dollars) [Graph], Statista, February 5, 2019. [Online]. Available: https://www.statista.com/statistics/976313/global-iot-market-size/?ref=hackernoon.com