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Global Consumer IoT Market Size, Share, Trends, Forecast: By Offering: Hardware, Software, Services; By Connectivity: Wired, Wireless; By Application: Automotive, Consumer Electronics, Healthcare, Home Automation, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Consumer IoT Market Outlook
The global consumer IoT market size reached nearly USD 252.42 billion in 2023. The market is projected to grow at a CAGR of 11.3% between 2024 and 2032 to reach a value of around USD 660.97 billion by 2032.
Key Trends in the Market
Consumer IoT refers to consumer devices or equipment equipped with the Internet of things (IoT) technology. IoT enables these devices to collect, share, and store data using the internet. Consumer IoT can be implemented in various aspects of daily life, such as asset tracking, healthcare, and entertainment, among others.
- The growing popularity of consumer IoT devices, such as smart light switches, smart locks, doorbell cams, and vice controllers, among others, is driving the market growth. Over the forecast period, the anticipated increase in penetration of IoT in daily life and advancements in smart home technology are likely to add to the consumer IoT market growth.
- Heightening penetration of consumer IoT in hybrid and electric vehicles is a key market trend. In addition, technological advancements in the automotive sector, growing car ownership, and the incorporation of tracking technology in modern vehicles are creating opportunities for the market expansion.
- The emergence of healthcare IoT technology is one of the crucial consumer IoT market trends. Consumers are rapidly adopting IoT wearables to reach their fitness goals and track their physical health. Moreover, the rising focus on preventative healthcare and growing health consciousness is anticipated to fuel the adoption of IoT devices, including wearables, in the coming years.
Market Analysis
Based on offering, the market is segmented into hardware, software, and services. The hardware segment is further divided based on type into processor, network infrastructure, and sensors, among others.
On the basis of connectivity, the market is classified into wired and wireless. The wireless segment is further divided based on type into Bluetooth, Wi-Fi, and NFC, among others. By application, the consumer IoT market segmentations include automotive, consumer electronics, healthcare, and home automation, among others. The major regional markets for consumer IoT include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global consumer IoT market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- IBM Corporation
- Amazon Web Services, Inc.
- Intel Corporation
- Hewlett Packard Enterprise Development LP
- Microsoft Corporation
- Schneider Electric SE
- TE Connectivity Ltd.
- Texas Instruments Incorporated
- NXP Semiconductors N.V.
- Infineon Technologies AG
- Others
Market Share by Application
Home automation accounts for a significant portion of the consumer IoT market share. This can be attributed to the heightening adoption of home automation systems to optimise energy efficiency, improve the functionality of appliances, and maximise home security. In addition, a rapid shift towards a convenient lifestyle is further propelling the adoption of consumer IoTs.
Market Share by Region
As per the consumer IoT market analysis, North America is likely to witness a healthy growth in the forecast period. The growing demand for smart devices and the increasing use of technology in everyday applications are major factors driving the adoption of consumer IoT in the region. Moreover, the strong foothold of IoT companies across well-established economies such as the United States of America is further bolstering the market.
Competitive Landscape
Microsoft Corporation is a leading technology corporation known for its Windows line of operating systems. The company also develops IoT solutions to provide secure, scalable, and open edge-to-cloud solutions. It was founded in 1975 and is headquartered in Washington, the United States.
IBM Corporation is a multinational technology company which was founded in 1911 and is headquartered in New York, the United States. The company offers IoT solutions to help businesses extract valuable insights to improve operations.
Infineon Technologies AG, founded in 1999, is a leading semiconductor company with expertise in IoT and power systems. Headquartered in Neubiberg, Germany, the company offers innovative services, solutions, and products for the automotive, telecommunications, and electronics sectors. Through its semiconductor solutions, the company aims to enhance the functionality and connectivity of IoT devices.
Other consumer IoT market players include Amazon Web Services, Inc., Intel Corporation, Hewlett Packard Enterprise Development LP, Schneider Electric SE, TE Connectivity Ltd., Texas Instruments Incorporated, and NXP Semiconductors N.V., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Offering |
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| Breakup by Connectivity |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Consumer IoT Market Analysis
8.1 Key Industry Highlights
8.2 Global Consumer IoT Historical Market (2018-2023)
8.3 Global Consumer IoT Market Forecast (2024-2032)
8.4 Global Consumer IoT Market by Offering
8.4.1 Hardware
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by Type
8.4.1.3.1 Processor
8.4.1.3.2 Network infrastructure
8.4.1.3.3 Sensors
8.4.1.3.4 Others
8.4.2 Software
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Services
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Consumer IoT Market by Connectivity
8.5.1 Wired
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Wireless
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.2.3 Breakup by Type
8.5.2.3.1 Bluetooth
8.5.2.3.2 Wi-Fi
8.5.2.3.3 NFC
8.5.2.3.4 Others
8.6 Global Consumer IoT Market by Application
8.6.1 Automotive
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Consumer Electronics
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Healthcare
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Home Automation
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Global Consumer IoT Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Consumer IoT Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Consumer IoT Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Consumer IoT Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Consumer IoT Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Consumer IoT Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 IBM Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Amazon Web Services, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Intel Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Hewlett Packard Enterprise Development LP
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Microsoft Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Schneider Electric SE
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 TE Connectivity Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Texas Instruments Incorporated
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 NXP Semiconductors N.V.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Infineon Technologies AG
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Consumer IoT Market: Key Industry Highlights, 2018 and 2032
2. Global Consumer IoT Historical Market: Breakup by Offering (USD Billion), 2018-2023
3. Global Consumer IoT Market Forecast: Breakup by Offering (USD Billion), 2024-2032
4. Global Consumer IoT Historical Market: Breakup by Connectivity (USD Billion), 2018-2023
5. Global Consumer IoT Market Forecast: Breakup by Connectivity (USD Billion), 2024-2032
6. Global Consumer IoT Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Consumer IoT Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Consumer IoT Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Consumer IoT Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Consumer IoT Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Consumer IoT Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Consumer IoT Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Consumer IoT Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Consumer IoT Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Consumer IoT Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Consumer IoT Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Consumer IoT Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Consumer IoT Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Consumer IoT Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Consumer IoT Market Structure
Key Questions Answered in the Report
The market reached a value of nearly USD 252.42 billion in 2023.
The market is estimated to grow at a CAGR of 11.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 660.97 billion by 2032.
The rising popularity of consumer IoT devices such as smart light switches and smart locks, the heightening penetration of consumer IoT in hybrid and electric vehicles, and the growing adoption of home automation systems to optimise energy efficiency are the major drivers of the market.
The key trends in the market include the emergence of healthcare IoT technology and the rapid adoption of IoT wearables for personal healthcare purposes.
Hardware, software, and services are the different segments based on the offerings of consumer IoT.
Wired and wireless are the major segments based on the connectivity of consumer IoT.
Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc., Intel Corporation, Hewlett Packard Enterprise Development LP, Schneider Electric SE, TE Connectivity Ltd., Texas Instruments Incorporated, NXP Semiconductors N.V., and Infineon Technologies AG, among others, are the key market players.
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