Global IoT Services Market to Surpass US$551.3 Billion by 2030 as SMEs and Healthcare Drive Digital Transformation

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According to this new report from TechMarket Experts, a unit of Industry Experts, Inc., the Global Internet of Things (IoT) Services Market is expected to surge from US$304.1 billion in 2024 to over US$551.3 billion by 2030, growing at a compound annual growth rate (CAGR) of 10.4%. Key drivers include the accelerating digitization of industrial and consumer environments, the growing need for predictive analytics, and widespread IoT deployment across sectors like manufacturing, healthcare, utilities, and retail.

Enterprises are embracing IoT as a core pillar of digital transformation, moving beyond device deployment into orchestrated systems that enable real-time decision-making, automation, and strategic insights. North America led the global market in 2024, accounting for 35.5% of overall revenue, but the spotlight is shifting to Asia-Pacific, the fastest-growing region, which is forecast to grow at 13.4% CAGR through 2030.

In terms of services, Implementation remains the largest contributor, with businesses seeking seamless integration across diverse platforms and devices. However, Strategic & Advisory Services are gaining momentum as enterprises pursue long-term optimization, AI adoption, and security guidance, reflecting an 11.4% CAGR. Applications such as Predictive Maintenance and Asset Tracking are drawing heavy investment due to their measurable ROI and role in driving operational efficiency.

Among end-use industries, Healthcare leads in growth with a projected 13.2% CAGR, supported by the rise of connected medical devices and real-time patient monitoring systems. While Large Enterprises dominate in terms of value, the SME segment is growing faster, registering 12.4% CAGR, thanks to flexible, cloud-based IoT deployments and increasing affordability.

The study offers a detailed segmentation by service type, application area, company type, and industry sector, backed by regional analysis across five continents and deep dives into 29 countries. The report profiles 15+ leading companies, including IBM, Accenture, TCS, Capgemini, Siemens, Cognizant, HCLTech and Infosys, capturing their evolving strategies across sectors and geographies.

To learn more about the report or explore purchase options, please contact +1-320-497-3787 or visit Internet of Things (IoT) Services 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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