Security News > 2020 > May > Number of active IoT devices expected to reach 24.1 billion in 2030

At the end of 2019 there were 7.6 billion active IoT devices, a figure which will grow to 24.1 billion in 2030, a CAGR of 11%, according to a research published by Transforma Insights.

Public networks, which are dominated by cellular networks, will grow from 1.2 billion connections to 4.7 billion in 2030, growing market share from 16% to 20%. Private networks account for the balance of connections, 10% in 2019 and 8% in 2030.

Services, including connectivity, will account for 66% of spend, with the remainder accounted for by hardware, in the form of active IoT devices, modules and gateways.

The single biggest use case is Consumer Internet & Media devices, accounting for 1/3 of all devices in 2030.

Geographically, China, North America and Europe dominate, accounting for 26%, 24% and 23% respectively of the total value of the IoT market in 2030.

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