Global IoT Market 2025 Forecast: Inside the $1 Trillion Tech Revolution
Global IoT spending is projected to approach $1 trillion in 2025, up from $805.7 billion in 2023. Connected IoT devices are expected to reach 27 billion by 2025. Manufacturing leads spending, with $73 billion for operations and $68 billion for asset management in 2023. Semtech acquired Sierra Wireless for $1.2 billion in 2023; Vodafone and Microsoft announced a 10-year IoT partnership in 2024.