Connected IoT Devices Market Segmentation:
Deployment (Public, Private)
In connected IoT devices market, public segment is set to account for revenue share of more than 64.9% by the end of 2035. The segment’s growth is attributed to large-scale investments by developed countries in building public cloud infrastructure. Rising investments in smart city development and intelligent traffic monitoring systems position the segment for rapid growth. Furthermore, public sector IoT deployment offers revenue streams in disaster management and water resource monitoring by creating opportunities for technology service providers and the government to collaborate. For instance, in October 2024, Actelis Network announced a new order from a major municipality in Germany for the modernization of secure critical IoT infrastructure through the expansion of its hybrid-fiber networking technology.
The private segment of the connected IoT devices market is emerging during the forecast period and is estimated to increase its revenue share. Rising adoption across retail, logistics, and healthcare is a major driver for the segment’s growth. IoT-enabled wearables and automation devices are reshaping consumer lifestyles and demands, creating profitable opportunities for industry stakeholders. Additionally, the proliferation of data-driven decision-making is expected to create steady revenue streams in the market.
Component (Solution, Service)
The solution segment of the connected IoT devices market by component is poised to hold a significant revenue share during the forecast period. Industry-specific solutions catering to verticals such as agriculture, manufacturing, healthcare, etc., boost end use of solutions. Growing reliance on cloud and edge computing provides opportunities for hybrid platform solutions. Additionally, rising security threats create opportunities to provide end-to-end security services. For instance, in August 2024, Nozomi Networks collaborated with Mandiant to provide security solutions for IoT threat detection & response via the Nozomi TI expansion pack.
Our in-depth analysis of the global connected IoT devices market includes the following segments:
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Component |
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