Connected IoT Devices Market

• Rising Adoption of Smart Home Devices is driving the market growth

The market for linked IoT devices is expanding significantly due to the increasing usage of smart home technology. Numerous goods fall under the category of "smart home devices," including smart speakers, thermostats, lighting controls, doorbells, security cameras, and other items. These gadgets are made to make life more convenient, use less energy, and give homeowners more control over their homes. Smart home gadgets have proliferated quickly as a result of the fusion of cutting-edge technology with consumer demand for a more connected and automated lifestyle, creating a thriving industry for the Internet of Things (IoT).

The promise of improved ease and seamless integration comes with the adoption of smart home technology. Homeowners may use voice commands or smartphone apps to remotely control a number of components of their houses thanks to IoT connectivity. For instance, a smart speaker can be used to control the thermostat, dim the lights, lock the doors, or even start the coffee maker while the user is at home or away. This degree of control and automation simplifies processes and streamlines daily routines, saving users time and effort.

The need for such technologies keeps growing as more people discover the convenience of smart home appliances, fueling market expansion.

Another compelling aspect driving the adoption of smart home appliances is energy savings. Many IoT-enabled gadgets are built to optimize energy use, which lowers utility costs and leaves a smaller environmental footprint. For instance, smart thermostats may learn household routines and modify heating or cooling based on occupancy, environmental factors, and user preferences. When a room is empty, smart lighting systems can be configured to automatically switch off, or they can be dimmed to conserve energy at specific times. Energy-efficient smart home technology is becoming more popular as environmental concerns gain traction, supporting the market.

The adoption of IoT devices in the house is significantly influenced by home security and surveillance. 

Due to real-time monitoring and notifications, smart cameras, doorbells, and security systems give homeowners more peace of mind. If these sensors notice suspicious behavior or unlawful access, they can transmit notifications to users' smartphones, enabling homeowners to take prompt action or, if required, call the police. The need for better home security has increased demand for smart home security solutions, which has helped the industry expand. This demand has been fueled by developments in camera technology and cloud-based storage.

A positive cycle of innovation and new product creation has also been aided by the proliferation of smart home ecosystems. Customers grow increasingly invested in the ecosystem as they add more smart gadgets to their homes, driving manufacturers to update their products and roll out cutting-edge solutions to keep up with changing consumer needs. Consumer interest and market expansion are further fueled by this never-ending innovation cycle. Thus, driving the Connected IoT Devices market revenue.

The Global Connected IoT Devices Market Industry is projected to experience substantial growth over the coming years. With an expected market size of 12.0 USD Billion in 2024, the industry is anticipated to expand significantly, reaching 62.2 USD Billion by 2035. This growth trajectory indicates a compound annual growth rate of 16.18% from 2025 to 2035. The increasing adoption of IoT devices across various sectors, including healthcare, manufacturing, and smart homes, is likely to drive this expansion, reflecting the growing importance of connectivity and automation in modern society.

The increasing consumer inclination towards smart home devices is a pivotal driver for the Global Connected IoT Devices Market Industry. As households adopt technologies that enhance convenience, security, and energy efficiency, the market is projected to reach 12.0 USD Billion in 2024. Smart thermostats, security cameras, and smart lighting systems exemplify this trend, as they integrate seamlessly into daily life. The growing awareness of energy conservation and home automation is likely to propel further adoption, indicating a robust growth trajectory for the industry.

The development of smart cities is a transformative driver for the Global Connected IoT Devices Market Industry. Governments worldwide are investing in IoT technologies to enhance urban living through improved infrastructure, transportation, and public services. Smart traffic management systems and waste management solutions exemplify how IoT can optimize city operations. As cities evolve into smart ecosystems, the demand for connected devices is likely to surge, contributing to the overall market growth. This initiative not only enhances the quality of life for residents but also drives economic development.

The push towards industrial automation is a crucial factor influencing the Global Connected IoT Devices Market Industry. Industries are increasingly adopting IoT solutions to optimize operations, reduce costs, and enhance productivity. For instance, smart sensors and predictive maintenance tools are being utilized to monitor equipment health and performance. This trend is expected to contribute to a compound annual growth rate of 16.18% from 2025 to 2035, reflecting the growing reliance on IoT technologies in manufacturing and logistics. The integration of IoT in industrial settings is likely to redefine operational efficiencies.

Technological advancements in connectivity, such as 5G and Wi-Fi 6, are transforming the landscape of the Global Connected IoT Devices Market Industry. These innovations facilitate faster data transmission and improved device interconnectivity, enabling a more efficient ecosystem. As a result, industries are increasingly leveraging IoT devices for real-time monitoring and automation. The anticipated growth in connected devices, driven by enhanced connectivity, suggests a significant expansion in market size, potentially reaching 62.2 USD Billion by 2035. This evolution underscores the importance of robust connectivity in driving IoT adoption.

The demand for real-time data analytics is becoming a driving force in the Global Connected IoT Devices Market Industry. Organizations are recognizing the value of data-driven decision-making, which is facilitated by IoT devices that collect and analyze data instantaneously. This capability allows businesses to respond swiftly to market changes and consumer preferences. As industries increasingly adopt IoT solutions for data analytics, the market is poised for substantial growth, with projections indicating a significant increase in connected devices. This trend highlights the critical role of analytics in enhancing operational effectiveness.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Connected IoT Devices Market dominated this market in 2022 (45.80%). Because of advancements in infrastructure, widespread use of cutting-edge networking technology, and expanding use of cloud computing. The North American market receives the majority of its input from the US. In addition, the region's market benefits greatly from the powerful market players and their enormous client bases. Further, the U.S.

Connected IoT Devices market held the largest market share, and the Canada Connected IoT Devices market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Connected IoT Devices Market SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The Asia-Pacific Connected IoT Devices Market accounts for the second-largest market share. The area is distinguished by a high density of people, the widespread use of smartphones, and the ongoing development of high-speed data networks. Additionally, a lot of local smartphone users use their portable devices to access social media. As a result, the area has enormous prospects for IoT adoption. Moreover, China’s Connected IoT Devices market held the largest market share, and the Indian Connected IoT Devices market was the fastest growing market in the Asia-Pacific region.

Europe Connected IoT Devices market is expected to grow at the fastest CAGR from 2023 to 2032. To improve urban living, sustainability, and resource management, many European cities have been actively exploring smart city projects. These programs rely heavily on IoT technologies, which have accelerated the adoption of connected devices across a variety of urban infrastructure systems. Further, the German Connected IoT Devices market held the largest market share, and the UK Connected IoT Devices market was the fastest growing market in the European region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Connected IoT Devices market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Connected IoT Devices industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Connected IoT Devices industry to benefit clients and increase the market sector. In recent years, the Connected IoT Devices industry has offered some of the most significant advantages to medicine. Major players in the Connected IoT Devices market, including Oracle Corporation (US), PTC Incorporation (US), Smith Micro Software, Inc. (US), Telit Communications PLC (Italy), Wind River Systems (US), Xively (US), Samsung Electronics Co.

Ltd. (South Korea), Motorola Inc. (US), Nokia Solutions Network (Finland), LG Corporation (South Korea), Hewlett-Packard (US), HTC Corporation (Taiwan), Apple Inc. (US), and Dell Inc. (US), among others, are attempting to increase market demand by investing in research and development operations.

Consumer electronics, information technology, mobile communications, and device solutions are all produced by Samsung Electronics Co. Ltd. (Samsung), a division of the Samsung Group. Televisions (TV), refrigerators, washing machines, air conditioners, medical equipment, printers, monitors, computers, network systems, and digital cameras are among the company's product offerings. Additionally, it produces tablets, smartphones, LCD and LED panels, mobile phones, and other accessories. The retail, hospitality, healthcare, financial, educational, transportation, and government sectors can all benefit from Samsung's solutions. In addition to Asia-Pacific, the corporation also operates in the Americas, Europe, Africa, and the Middle East.

Seoul, South Korea serves as the home base for Samsung.

Among the smart handheld gadgets that HTC Corp (HTC) creates and makes are smartphones and tablets. The company's product line includes PDA phones, virtual reality gear and related accessories, as well as other IoT products. Additionally, the company offers a variety of accessories for sale, including true wireless earbuds, adaptive audio earphones, USB type-c connections, power banks, and dual port car chargers. It provides products through important carriers, local retailers, online stores, and its own eStores. For smart mobile devices, it provides marketing, maintenance, and after-sales services, media streaming and download, as well as examination and consultation services.

The company conducts business throughout the Americas, Europe, and Asia-Pacific. HTC's headquarters are in Taipei's Taoyuan City.