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IoT market update: Enterprise IoT market size reached $269 billion in 2023, with growth deceleration in 2024
2025-04-15 02:45:03| Spiritual Career Counseling
In shortThe enterprise IoT market size reached $269 billion in 2023, representing 15% growth year-over-year, according to the Global IoT Enterprise Spending dashboard (Q2/2024 update). Growth is expected to slow further to 12% in 2024 before re-accelerating in 2025.Economic concerns have impacted corporate spending in general, including for IoT. IoT hardware technologies are currently hit the hardest.China, India, and the US are expected to lead in spending growth regionally, while automotive and process manufacturers are set to lead by vertical.Spending growth for enterprise IoT software is expected to greatly outpace that of enterprise IoT spending in general.Why it matters?For enterprise IoT vendors: Market insights and forecasts can help vendors align their sales efforts with regional and industry trends and capitalize on future growth opportunities.For enterprises adopting IoT: Tracking market trends, drivers, and growth forecasts can help adopters make informed decisions about th... [ more ]
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Employment
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