Internet of Things (IoT) Hardware Market to Cross $426 Billion by 2030: Analysis of Emerging Trends, Investment Opportunities and Business Strategies

The IoT hardware market offers key opportunities through AI-capable modules, secure edge hardware, and tailored device ecosystems. Manufacturing and healthcare sectors lead adoption, with Asia-Pacific experiencing rapid growth due to smart city initiatives. SMEs drive demand for affordable, scalable solutions.

Dublin, Nov. 26, 2025 (GLOBE NEWSWIRE) -- The "Internet of Things (IoT) Hardware - A Global Market Overview" has been added to ResearchAndMarkets.com's offering.

This report analyzes the global and regional IoT hardware market based on Hardware Type, Application, Company Type, and Industry Sector for 2021-2030, with forecasts from 2024 to 2030. It profiles major companies and examines the latest corporate and industrial trends.

The global Internet of Things (IoT) hardware market is experiencing rapid growth, driven by technological advancements in edge computing, AI integration, and niche-specific demands enhancing its strategic role in digital infrastructure. Expected to be valued at approximately USD 262.1 billion in 2024, IoT hardware represents around 35% of total IoT spending, highlighting its vital role in real-time, decentralized decision-making. Key components include sensors, secure modules, edge servers, storage, and embedded systems.

By 2030, the market is projected to reach USD 426.2 billion, with a CAGR of 8.4% from 2024. Growth is spurred by widespread adoption in sectors such as manufacturing, utilities, transportation, and healthcare. AI-capable modules, secure edge hardware, and vertically aligned device ecosystems are propelling expansion. Asia-Pacific leads the market, whereas North America is renowned for secure, standards-driven innovations. SMEs are increasingly pivotal, seeking cost-effective, scalable solutions tailored to their needs.

Prominent IoT hardware firms include Intel , Qualcomm , Texas Instruments , STMicroelectronics , Bosch Sensortec, NXP Semiconductors, Renesas, Advantech, Huawei, and Murata. These companies spearhead sensor development, secure microcontrollers, edge computing modules, and domain-specific innovations.

IoT Hardware Regional Market Analysis

Asia-Pacific dominates the global market with an estimated 35.5% share in 2024, driven by robust deployments in China, India, Japan, and South Korea. This dominance is due to aggressive smart manufacturing initiatives and digital infrastructure programs. North America is the second-largest market, led by early enterprise adoption, edge-native infrastructure, and innovation in healthcare, automotive, and energy sectors. Asia-Pacific is expected to witness the fastest growth, with a CAGR of 11.1%, supported by smart city initiatives and 5G deployments.

IoT Hardware Market Analysis by Hardware Type

The Modules & Sensors segment dominates the market, making up 77% of 2024's total. Its prevalence in industrial automation, environmental monitoring, and consumer electronics underscores its foundational role. The Security Hardware segment is the fastest-growing, with a projected CAGR of 12.3%, driven by increasing IoT security threats and regulations.

IoT Hardware Market Analysis by Application

Predictive Maintenance is the largest application area, contributing 19.3% to the market in 2024, widely adopted in industrial and manufacturing sectors. Smart Metering follows, driven by utility providers' efforts in remote diagnostics and grid optimization. It is also the fastest-growing segment, with a projected CAGR of 10.5%, propelled by smart grid rollouts.

IoT Hardware Market Analysis by Company Type

Large enterprises account for 68.5% of global market spending, driven by investments in industrial automation, smart manufacturing, and digital transformation. SMEs are the fastest-growing group, with a CAGR of 9.4%, driven by affordable IoT solutions and cloud-native platforms reducing setup complexity.

IoT Hardware Market Analysis by Industry Sector

Manufacturing represents 24.9% of market investment in 2024, reinforced by Industry 4.0 and predictive maintenance advancements. Healthcare is the fastest-growing sector, with a CAGR of 10.8%, driven by remote patient monitoring and IoT-enabled diagnostics.

Key Metrics

• Historical Period: 2021-2024
• Base Year: 2024
• Forecast Period: 2024-2030
• Units: Value market in USD
• Companies Mentioned: 35+

IoT Hardware Market by Geographic Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

IoT Hardware Market by Hardware Type

• Modules & Sensors
• Security Hardware
• Servers
• Storage

IoT Hardware Market by Application

• Predictive Maintenance
• Smart Metering
• Asset Tracking
• Remote Monitoring
• Smart Buildings

IoT Hardware Market by Company Type

• Large Enterprises
• SMEs

IoT Hardware Market by Industry Sector

• Manufacturing
• Utilities
• Transportation
• Retail
• Healthcare

Key Attributes

The key companies featured in this Internet of Things (IoT) Hardware market report include:

• ABB
• Advantech
• Bosch (Rexroth, Sensortec)
• Cisco
• Dell Technologies
• Dragino
• Emerson Electric
• Espressif Systems
• FOSSA Systems
• Garmin
• Honeywell
• HPE
• Infineon Technologies
• Libelium
• Lumotive
• MediaTek
• Microchip Technology
• Murata Manufacturing
• Myriota
• Nordic Semiconductor
• NXP Semiconductors
• Panasonic
• Particle.io
• Qualcomm
• Quectel Wireless
• Schneider Electric
• Seeed Studio
• Semtech
• Siemens
• STMicroelectronics
• Stratus Technologies
• Telit Cinterion
• Texas Instruments
• u-blox
• Wiliot
• Zebra Technologies

For more information about this report visit https://www.researchandmarkets.com/r/c4e9fz

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