IoT (Internet of Things) Platforms Market Revenue to Attain USD 43.43 Bn by 2033

Published: 14 Nov 2025

Author: Precedence Research

Share :

Table of Content

1. IoT (Internet of Things) Platforms Market Revenue and Trends 2025 to 2033 2. What are the key drivers enabling the growth of the market? 3. Segment Insights 4. Regional Insights 5. IoT (Internet of Things) Platforms Market Coverage

IoT (Internet of Things) Platforms Market Revenue and Trends 2025 to 2033

The global IoT (Internet of Things) platforms market revenue surpassed USD 16.11 billion in 2025 and is predicted to attain around USD 43.43 billion by 2033, growing at a CAGR of 13.20%. The market is growing due to accelerating digital transformation efforts and surging demand for real-time connectivity, predictive analytics, and scalable device management solutions across industries.

What are the key drivers enabling the growth of the market?

Several key factors are driving the growth of the IoT (internet of things) platforms market. The surge in connected devices and the resulting explosion of sensor data have pushed businesses to adopt platforms capable of handling, managing, and analyzing massive data streams. Additionally, the increasing need for edge computing, integration of AI/ML, and the demand for low-latency decision-making are boosting platform investments. The shift from isolated solutions to unified, interoperable platforms helps simplify operations and reduce total cost of ownership (TCO). Furthermore, the growing adoption of IoT in sectors like industrial automation, smart cities, healthcare, and logistics is driving platform demand. Lastly, the scalability of cloud services, flexible payment models, and the focus on digital business strategies are encouraging more organizations to embrace IoT platforms.

Segment Insights

• By component, the platform software segment dominated the market in 2024, as it includes the core middleware, analytics, and application layers that enable comprehensive end-to-end orchestration across various IoT use cases.
• By deployment mode, the cloud-based / SaaS segment led the market in 2024, driven by its flexibility, scalability, and lower capital requirements, which make it the preferred choice for most IoT implementations.
• By connectivity technology, the cellular / mobile segment held the largest market share in 2024, as LTE, NB-IoT, 5G, and other mobile standards provide essential coverage and mobility for IoT device communication.
• By end-user / industry vertical, the manufacturing (smart factories / Industry 4.0) segment dominated the market in 2024, fueled by growing adoption of IoT use cases such as predictive maintenance, asset tracking, and digital twins in the manufacturing sector.

Regional Insights

In 2024, North America registered dominance in the IoT platforms market, driven by a confluence of factors. The region's advanced technological infrastructure, coupled with a strong emphasis on research and development, fostered an environment ripe for innovation and early adoption of IoT solutions. Furthermore, the presence of major tech companies and a high concentration of enterprises across various sectors, such as manufacturing and healthcare, fueled significant investment in IoT platforms. This combination of technological readiness, robust investment, and a proactive business environment solidified North America's leading position in the market.

Asia Pacific is experiencing the most rapid growth in the market, driven by significant industrial modernization efforts in countries like China, India, and those in Southeast Asia. Government initiatives promoting smart cities and advanced manufacturing further accelerate this growth. Supportive regulatory environments, coupled with substantial digital investment programs, are fueling the adoption of IoT technologies, positioning the Asia-Pacific region as a high-growth market, surpassing many established markets in terms of expansion.

IoT (Internet of Things) Platforms Market Coverage

Recent Development

• On October 7, 2025, AT&T and Ericsson jointly introduced a cloud-based AT&T IoT Marketplace, built on Ericsson’s Digital Experience Platform and hosted on Azure, to simplify contracting, provisioning, billing and accelerate IoT service monetization.  (Source: https://www.ericsson.com)

Get this report to explore global market size, share, CAGR, and trends, featuring detailed segmental analysis and an insightful competitive landscape overview @ https://www.precedenceresearch.com/sample/7028

You can place an order or ask any questions, please feel free to contact us at sales@precedenceresearch.com |+1 804 441 9344