IoT To More Than Double Over Next Decade
RCRWirelessNews, Thursday, June 12th, 2025
Growth decade - IoT devices to hit 40.6bn by 2034, with cellular IoT tripling, non-cellular LPWA tech like LoRaWAN almost quadrupling, and short-range IoT still top.
Diverse cases - IoT market to spiral 146% to $908bn, led by China, Europe, and North America, with expansion across the utilities, retail, and transport sectors.
SGP.32 standard - IoT spec for eSIM raises demand for 'eSIM orchestrators' to handle connectivity, compliance, billing, and device lifecycle across networks.
IoT is going from a 'market with potential into a major demand centre', according to Transforma Insights. A new forecast report from the firm says the total number of active IoT devices will more than double over the next 10 years to reach 40.6 billion, up from 17.7 billion today. Compound (CAGR) growth, from the end of 2024 to the end of 2034, is pegged at nine percent per year over the period. Annual device sales will grow from 4.3 billion to nine billion in the period, with a CAGR of eight percent.