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