Global IoT Connectivity Market to Surpass US$60.8 Billion by 2030, Fueled by Smart Metering, LPWAN, and SME Expansion

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Fueled by demand for intelligent, SLA-driven connectivity solutions, the global IoT Connectivity Market is projected to grow from US$31.8 billion in 2024 to US$60.8 billion by 2030, registering a CAGR of 11.4%, according to a new report released by TechMarket Experts, a unit of Industry Experts, Inc. This shift reflects a broader trend in the IoT landscape, away from simple device-to-network communication, and toward outcome-oriented, platform-based services optimized for scale, security, and monetization.

The report notes significant momentum in edge-enabled connectivity, 5G RedCap commercialization, LPWAN deployments, and LEO satellite integration, all of which are expanding the IoT addressable market across emerging and underserved geographies. Enterprises are increasingly adopting Connectivity-as-a-Service (CaaS) models that bundle SIM provisioning, security, analytics, and dynamic pricing into a seamless, orchestrated offering.

Asia-Pacific dominates the market, capturing the largest regional share in 2024 and forecast to reach US$25.3 billion by 2030. The region also leads in growth, projected at 13.9% CAGR, underpinned by digitization in utilities, transportation, and agriculture across China, India, and ASEAN nations. Europe and North America remain critical for high-value use cases, private 5G networks, and edge-to-cloud architecture adoption.

By connectivity type, cellular technologies dominate use cases like automotive, logistics, and smart cities. LPWAN, however, leads in growth due to its low-cost, long-range capabilities that make it ideal for utilities, metering, and environmental monitoring. Among applications, smart metering stands out as the top-performing segment in both value and growth, projected to exceed US$15 billion by 2030. Cross-industry deployments, offering horizontal scalability across sectors, are the second-largest segment in 2024.

The market is also witnessing an SME-led surge in IoT adoption, with smaller businesses projected to grow at a 13.4% CAGR, outpacing large enterprises due to easier onboarding, pay-as-you-use pricing, and cloud-first solutions tailored to retail, agriculture, and light industrial use cases.

The report segments the market by connectivity type, application, company type, and industry sector, and covers five global regions along with 29 individual country markets. It profiles over 30 companies, including Vodafone, China Mobile, KORE Wireless, Telit, AT&T, Eseye, and others, with a focus on emerging connectivity business models, eSIM/iSIM innovation, edge and satellite convergence, and full-stack orchestration.

To learn more or request sample pages, visit: IoT Connectivity Market Report

About TechMarket Experts
TechMarket Experts, a unit of Industry Experts, Inc., is your trusted source for independent and unbiased market research reports focused exclusively on the Information Technology (IT) and IT-enabled services industries. We provide forward-looking insights and strategic data to empower corporate decision-makers, analysts, and innovators navigating the dynamic global tech landscape. For more information, visit https://techmarketexperts.com or contact us at +1-320-497-3787.

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