Massive IoT (mIoT) Market to reach $160 Billion by 2030; Utilising big data, cloud, edge computing, and artificial intelligence, Massive IoT revolutionises companies by gathering value from enormous datasets. It promotes creativity, increases product

The Massive IoT (mIoT) Market size is estimated to reach $160 Billion by 2030, growing at a CAGR of 7.1% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Massive IoT (mIoT) Market – By Connectivity (Field, Wireless), By Component (Software, Hardware, Services), By Platform (Device Management, Application Management, Network Management, Cloud Platform, Others), By End Use Industry (Manufacturing, Transportation, Healthcare, Retail, Residential, Energy and Utilities, Others) and By Geography - Opportunity Analysis & Industry Forecast, 2024-2030”.

Leveraging cloud, edge computing, AI, and big data, Massive IoT transforms industries by extracting value from massive datasets. By connecting and controlling devices, it optimizes processes, enhances productivity, and drives innovation. The affordability and miniaturization of IoT devices further fuel market growth.

In 2023, North America held the largest share of 37% in the Massive IoT (mIoT) Market. Global IT gigantic companies like Microsoft, Amazon, and Intel are based in North America, and they use platforms like Azure IoT, AWS IoT Core, and Intel's IoT solutions to propel IoT innovation. Additionally, these businesses make significant investments in R&D to increase IoT capabilities. North America's early adoption of IIoT technologies, particularly in manufacturing and logistics, has driven the region's dominance in the Massive IoT market. The tech-savvy population has further accelerated the adoption of IoT devices, including smart home systems, wearables, and connected appliances. The average U.S. household with internet access had 17 connected devices in 2023, according to new data released Jan. 10 at CES 2024 in Las Vegas by Parks Associates. Due to these features, North America is now the leading region in terms of technological development, deployment, and market size in the massive IoT market.

The miniaturization of IoT devices is a critical development in the massive IoT market, offering several advantages that drive adoption across industries such as healthcare, automotive, and consumer electronics. It enables IoT devices to fit into smaller spaces while retaining or even enhancing functionality. Smaller components reduce energy consumption and heat generation, which is crucial for battery-powered devices. In sectors like automotive, miniaturized components are vital for integrating advanced features into electric vehicles without increasing weight, which directly impacts performance and range. These advantages should be enhanced by additional developments in component design and materials as IoT use increases.

Industry 4.0, often referred to as the fourth industrial revolution, integrates advanced technologies like IoT, artificial intelligence (AI), robotics, and machine learning into manufacturing and industrial processes. IoT plays a significant role in predictive maintenance, enabling industries to monitor equipment in real-time and predict failures before they occur. IoT, combined with AI (AIoT), transforms raw data from industrial sensors into actionable insights. These insights enhance operational efficiency by enabling better resource allocation and process optimization. Therefore, massive IoT infrastructure and Industry 4.0 technologies combine to provide manufacturers with game-changing options that allow for increased productivity, cost savings, and innovation.

• In November 2024, Fibocom, a global leading provider of IoT (Internet of Things) wireless solutions and wireless communication modules, launched an LTE-only Cat 1bis module MG661-KR to accelerate the digital transformation of local IoT industries with high-performance, cost-effectiveness Cat 1bis wireless solution.

• In October 2024, Sequans Communications S.A. a leading provider of 4G and 5G semiconductors and modules for the Internet of Things, announced that, following the closing of its transaction with Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, it will focus its future investments on addressing the Massive IoT market opportunity with its 4G products and 5G roadmap.

• In October 2024, Tele2 and Cisco announced extension of their partnership to deliver advanced IoT solutions to businesses across industries. Tele2 and Cisco will work together to bring new capabilities to 2CONTROL, the Connectivity Management Platform (CMP) powered by Cisco IoT Control Center.

Key companies profiled in the Massive IoT (mIoT) Market are Cisco Systems Inc., IBM, Microsoft Corporation, Google Inc., Huawei Technologies Co., Ltd., Qualcomm, Ericsson, Verizon Communications Inc., Hitachi Ltd, Fibocom Wireless Inc. and others.

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