The total Internet of Things (IoT) market in 2021 was worth around 181 billion U.S. dollars, and is set to rise to more than 622 billion U.S. dollars in 2030. The consumer sector continues to dominate, and is forecast to generate 183 billion U.S. dollars in revenue by 2030.
Internet of Things (IoT) revenue worldwide from 2020 to 2030 (in billion U.S. dollars), by vertical
| Characteristic | 2020 | 2021 | 2022* | 2023* | 2024* | 2025* | 2026* | 2027* | 2028* | 2029* | 2030* |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Agriculture, Forestry & Fishing | 2 | 2.3 | 2.7 | 3.2 | 3.7 | 4.3 | 5 | 5.8 | 6.7 | 7.7 | 8.9 |
| Mining & Quarrying | 0.6 | 0.6 | 0.7 | 0.7 | 0.8 | 0.8 | 0.9 | 0.9 | 1 | 1 | 1.1 |
| Manufacturing | 4.3 | 4.6 | 5.5 | 6.5 | 7.5 | 8.6 | 9.8 | 11.2 | 12.6 | 14 | 15.5 |
| Electricity, Gas, Steam & A/C | 12.6 | 15.1 | 18 | 20.7 | 23.4 | 26.1 | 28.7 | 31.2 | 33.6 | 35.9 | 37.9 |
| Water Supply & Waste Management | 1.7 | 2.1 | 2.7 | 3.4 | 4.2 | 5 | 5.8 | 6.5 | 7.2 | 7.9 | 8.5 |
| Construction | 0.6 | 0.6 | 0.7 | 0.8 | 0.9 | 1 | 1.1 | 1.2 | 1.2 | 1.3 | 1.4 |
| Retail & Wholesale | 20.6 | 22.1 | 25.2 | 28.2 | 30.5 | 32.6 | 34.4 | 36 | 37.6 | 39 | 40.5 |
| Transportation & Storage | 19.7 | 22.5 | 25.6 | 29 | 32.3 | 35.7 | 39.2 | 42.6 | 46.1 | 49.7 | 53.3 |
| Accommodation & Food Service | 4 | 4.3 | 5.1 | 5.9 | 6.6 | 7.2 | 7.7 | 8.2 | 8.7 | 9.1 | 9.6 |
| Information & Communication | 0 | 0 | 0 | 0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| Finance & Insurance | 3.9 | 4.5 | 5.2 | 6.2 | 7.1 | 8.1 | 9.1 | 10.2 | 11.4 | 12.6 | 13.9 |
| Professional, Scientific & Technical | 0.2 | 0.2 | 0.3 | 0.3 | 0.4 | 0.5 | 0.6 | 0.6 | 0.7 | 0.9 | 1 |
| Administrative | 5.5 | 6.6 | 7.9 | 9.5 | 11.2 | 13.2 | 15.4 | 17.8 | 20.3 | 22.8 | 25.2 |
| Government | 34 | 40.2 | 44 | 47.4 | 50.8 | 54.4 | 57.8 | 61.4 | 65.2 | 69.4 | 74 |
| Education | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Health & Social Care | 4.6 | 5.5 | 6.7 | 8 | 9.6 | 11.4 | 13.4 | 15.7 | 18.1 | 20.7 | 23.4 |
| Arts & Entertainment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Services | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Consumer | 35.2 | 43.5 | 53.9 | 66 | 79.3 | 93.9 | 109.8 | 126.8 | 144.7 | 163.4 | 182.8 |
| Cross-vertical | 32.1 | 38.2 | 47.3 | 57.3 | 67.6 | 77.3 | 86.7 | 96.1 | 105.5 | 115 | 124.4 |
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