IoT has made solid progress over the last few years but remains very much in the nascent stage in terms of deployments, spend and share of the IT budget in global businesses. Estimates that put the IoT market value at $10T or more have a credibility problem. Can IoT really be bigger than the entire IT industry? Can IoT really be bigger than the Health Care sector which accounts for 10% of global GDP? The economic value potential of IoT is indeed huge but the opportunity for suppliers of products, and services is likely to be measured in US$ Billions not US$ Trillions. This report provides our updated forecast of the global IoT market spend by vertical market through 2025.

Strategy Analytics forecasts that global IoT revenues will increase from $152 billion in 2016, to $344 billion in 2025.  Service revenues will continue to dominate with hardware declining and connectivity revenue peaking.

By 2025, Asia Pacific will be the leading region, accounting for 38% of global IoT revenues, followed by North America and Western Europe. This report analyses the forecast data for global IoT revenues by year, by revenue category and by region.