IoT Communication Technologies Market is predicted to reach USD 21.66 billion at a CAGR of 6.30% during the forecast period

Market Research Future (MRFR) has published a cooked research report on the “Global IoT Communication Technologies Market” that contains information from 2018 to 2032. The IoT Communication Technologies market is estimated to register a CAGR of 6.30% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global IoT Communication Technologies market— Microchip Technology, MediaTek, Telit, Link Labs, Texas Instruments, NXP Semiconductors, EnOcean, Sequans Communications, Gemalto, STMicroelectronics and others.

IoT Communication Technologies Market Highlights

The global IoT Communication Technologies market is accounted to register a CAGR of 6.30% during the forecast period and is estimated to reach USD 21.66 Billion by 2032.

A variety of wireless and wired protocols that enable seamless connectivity and data sharing between IoT devices are included in the market for IoT communication technologies. The growing acceptance of IoT solutions across sectors, which offer effective and dependable communication alternatives including Wi-Fi, Bluetooth, Zigbee, LoRaWAN, and NB-IoT for a variety of applications and use cases, is what propels this market.

Segment Analysis

The global IoT Communication Technologies market has been segmented based type and end use.

On the basis of type, Wi-Fi, Bluetooth, Zigbee, Others. The Wi-Fi segment dominated the market, accounting for 37.23% of market revenue in 2022. It is straightforward and affordable to use existing networks for IoT connectivity because many environments already have Wi-Fi infrastructure.

Based on End Use, Aerospace & Defense, Automotive, Information and Communication Technology, Automation, Power and Energy, Healthcare. The information and communication technology category generated the most income (38.52%) in 2022. The ICT industry enables IoT deployments in a number of businesses.

Regional Analysis

The global IoT Communication Technologies market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe IoT Communication Technologies market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The IoT Communication Technologies market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World IoT Communication Technologies market comprises of Middle East, Africa, and Latin America.

The North America IoT Communication Technologies Market dominated this market in 2022 (45.80%). The region's dominance is due to applications in sectors like smart cities, healthcare, industrial automation, and transportation.

Moreover, the second-largest market share belongs to the IoT Communication Technologies market in Europe. The region has experienced rising investments in IoT activities as a result of initiatives like Industry 4.0 and smart city initiatives.

Additionally, from 2023 to 2032, the IoT Communication Technologies Market in Asia-Pacific is anticipated to see the quickest CAGR. The region's dense population and growing urbanisation are the main drivers of the rising need for IoT technologies.

Furthermore, the rest of the world's IoT Communication Technologies market is divided into the Middle East, Africa, and Latin America. The market for IoT communication solutions is expanding quickly in Latin America as a result of rising digitization and widespread IoT use. With technologies like Wi-Fi, Bluetooth, and LoRaWAN being widely used to offer seamless connectivity and data sharing in IoT applications, nations like Brazil, Mexico, and Argentina are leading the industry.

Key Findings of the Study

• The global IoT Communication Technologies market is expected to reach USD 21.66 Billion by 2032, at a CAGR of 6.30% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the increasing demand for IoT technologies is stimulated mostly by the region's large population and growing urbanisation.


• Based on type, the Wi-Fi segment was attributed to holding the largest market in 2022.


• Microchip Technology, MediaTek, Telit, Link Labs, Texas Instruments, NXP Semiconductors, EnOcean, Sequans Communications, Gemalto, STMicroelectronics and others.