IoT Software Development Market was valued at USD 30 Billion in 2022 and is projected to reach USD 75 Billion by 2030, growing at a CAGR of 12.0% from 2024 to 2030.
However, the IoT Software Development Market outlook for the next decade, spanning from 2023 to 2033, indicates an even more substantial growth trajectory. Analysts predict that IoT will continue to expand as new applications emerge in industries like agriculture, logistics, and energy. The increased adoption of AI-driven automation and advanced sensors will provide new opportunities for developers, enabling more intelligent and autonomous devices. In particular, advancements in low-power wide-area networks (LPWAN) and the broader use of 5G technology will drive further demand for scalable, secure, and efficient IoT solutions.
The market’s growth is also fueled by the increasing demand for real-time data analytics and cloud-based IoT platforms. With more businesses prioritizing the integration of IoT into their operations, software development will play a pivotal role in ensuring seamless connectivity, data security, and operational efficiency. Furthermore, the rise of the Industrial Internet of Things (IIoT) is set to revolutionize industries like manufacturing and energy by providing enhanced predictive maintenance capabilities, operational visibility, and supply chain optimization.
The growth prospects of IoT software development extend far beyond the traditional applications, with new innovations paving the way for growth. Blockchain, AI, and edge computing technologies will continue to merge with IoT solutions, providing greater security, intelligence, and real-time responsiveness. As such, software developers in the IoT space are likely to focus on improving device interoperability, data management, and cybersecurity to meet the growing demands of industries and consumers alike.
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The Internet of Things (IoT) Software Development Market has experienced rapid growth from 2018 to 2022, reflecting an increased demand for connected devices, automation, and real-time data processing across various industries. The market saw significant advancements in technology, such as edge computing, machine learning, and 5G connectivity, which enhanced the capabilities of IoT devices. By 2022, the market size reached impressive levels, driven by industries like healthcare, manufacturing, retail, and smart cities, which sought to leverage IoT for improved efficiency and decision-making.
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Microsoft
Amazon Web Services (AWS)
Cisco Systems
PTC
IBM
Oracle
Salesforce
Siemens
Intel
GE Digital
Digiteum
Intellias
Mobisoft Infotech
MobiDev
e-Zest
Belitsoft
Computaris
Techila Services
PixelCrayons
SoftwareHut
ScienceSoft
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global IoT Software Development Market
Energy & Utilities
Healthcare
Smart Homes & Cities
Manufacturing
Transportation & Logistics
Retail
Others
Based on Types the Market is categorized into Below types that held the largest IoT Software Development market share In 2023.
Network Management Software
Application Management Software
Data Management Software
Device Management Software
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global IoT Software Development Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global IoT Software Development Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global IoT Software Development Market, By Type
6. Global IoT Software Development Market, By Application
7. Global IoT Software Development Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global IoT Software Development Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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