Enterprise IoT Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Component (Hardware, Software, Services), By Enterprise Type (Small & Medium Sized Enterprise, Large Enterprise), By End-use (Manufacturing, Oil & Gas, Utilities, Transport, BFSI, IT & Telecomm, Healthcare, Others), By Region & Competition, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 292.77 Billion
CAGR (2026-2031)	14.93%
Fastest Growing Segment	Manufacturing
Largest Market	North America
Market Size (2031)	USD 674.73 Billion

Market Overview

The Global Enterprise IoT Market will grow from USD 292.77 Billion in 2025 to USD 674.73 Billion by 2031 at a 14.93% CAGR. Enterprise IoT encompasses the strategic deployment of interconnected sensors, devices, and software systems within massive organizational frameworks to collect data and automate industrial operations. The market is fundamentally propelled by the imperative for operational cost reduction and the demand for continuous asset visibility, which enables companies to implement predictive maintenance and minimize equipment downtime. Unlike temporary technological trends, these drivers represent a permanent shift toward digitized business environments where data transparency directly correlates with profitability. According to GSMA Intelligence, in December 2024, updated forecasts indicated that enterprise IoT connections will represent 63% of total global IoT connections by 2030, underscoring the dominance of the sector.

However, the market faces a substantial impediment regarding the cybersecurity of these expanding networks. As the number of connected endpoints grows, the potential attack surface for cyber threats widens significantly, causing organizations to hesitate in deploying extensive solutions due to concerns over data privacy and critical infrastructure breaches. This security paradox necessitates rigorous and often expensive protection protocols that can delay implementation timelines and increase capital expenditure, thereby slowing the overall pace of market expansion.

Key Market Drivers

The proliferation of high-speed connectivity solutions, particularly 5G and Low-Power Wide-Area Networks (LPWAN), serves as a fundamental engine for the Global Enterprise IoT Market. These technologies provide the robust infrastructure necessary to support massive machine-type communications and critical industrial applications where low latency and high reliability are non-negotiable. By enabling seamless data transmission across vast operational footprints, organizations can deploy complex sensor networks that were previously unfeasible due to bandwidth limitations or stability concerns. This infrastructure expansion is rapidly translating into tangible deployment figures. According to Ericsson, November 2024, in the 'Mobility Report', the number of Broadband and Critical IoT connections is projected to reach 2.6 billion by the end of 2025, reflecting the aggressive scaling of cellular capabilities within enterprise environments.

The integration of Artificial Intelligence (AI) and advanced data analytics further accelerates market growth by converting raw sensor data into actionable business intelligence. Enterprises are moving beyond simple data collection to leverage AI-driven algorithms that facilitate predictive maintenance, optimize energy consumption, and automate decision-making processes in real-time. This shift towards intelligent operations is delivering measurable financial returns, thereby validating the capital expenditure required for these advanced systems. According to Nokia, June 2024, in the 'Industrial Digitalization Report', 93% of enterprises achieved a return on investment within 12 months of deploying private wireless networks to support industrial use cases. Consequently, the commitment to this technological convergence is intensifying; according to Honeywell, July 2024, in the 'Industrial AI Insights' study, 94% of surveyed industrial executives plan to expand their utilization of AI to further enhance operational capabilities.

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Key Market Challenges

The Global Enterprise IoT Market faces a substantial impediment in the form of escalating cybersecurity risks which directly counteract the drive for digital transformation. As organizations integrate interconnected sensors and endpoints, they inadvertently widen the attack surface for malicious actors, creating a security paradox where the operational benefits are offset by vulnerabilities in critical infrastructure. This environment forces enterprises to prioritize rigorous risk mitigation over rapid expansion, resulting in delayed implementation timelines and increased capital expenditure for protective protocols. Consequently, many companies hesitate to fully scale their IoT initiatives, fearing that a breach could compromise sensitive data or disrupt industrial operations.

This cautious approach is reinforced by recent industry findings that quantify the growing threat to connected environments. According to the World Economic Forum, in January 2025, 72% of organizations reported an increase in cyber threats, with ransomware incidents specifically rising by 46% compared to the previous year. These figures illustrate a volatile landscape where the complexity of securing vast networks often discourages immediate investment. This prevailing insecurity compels decision-makers to slow their adoption rates, thereby dampening the overall growth momentum of the enterprise IoT sector.

Key Market Trends

The Adoption of Zero Trust Security Architectures is reshaping the market as enterprises abandon perimeter-based defenses to address the risks of converging operational and information technology. This approach prioritizes continuous identity validation and micro-segmentation, ensuring compromised sensors cannot serve as gateways to critical control systems. The urgency for this shift is driven by the exposure of legacy assets that lack native security yet require connectivity for modernization. According to Palo Alto Networks, October 2025, in the '2025 Device Security Threat Report', 48.2% of all connections from IoT devices to enterprise systems now originate from high-risk devices, necessitating rigorous isolation protocols to protect organizational infrastructure.

Simultaneously, the Integration of Satellite and Non-Terrestrial Connectivity is removing geographic constraints for massive IoT deployments in remote logistics and maritime sectors. This trend is accelerated by new standards allowing cellular devices to switch seamlessly between terrestrial 5G networks and satellite constellations without specialized hardware. This hybrid model ensures continuous asset tracking across regions where terrestrial infrastructure is economically unviable. According to the GSMA, April 2025, in the 'Satellite and NTN Tracker Q1 2025' report, the sector established 99 partnerships between mobile operators and satellite providers by February 2025, underscoring the rapid commercial scaling of these ubiquitous coverage solutions.

Segmental Insights

The Manufacturing segment currently stands as the fastest-growing category within the Global Enterprise IoT Market. This surge is predominantly driven by the accelerating transition toward Industry 4.0, where industrial facilities are evolving into smart factories through extensive connectivity. Manufacturers are increasingly adopting IoT solutions to enable predictive maintenance and real-time asset monitoring, which effectively minimize costly unplanned downtime. Additionally, the integration of automated systems facilitates streamlined supply chain management and operational efficiency. This critical demand for data-driven production optimization ensures the segment's continued expansion in the global landscape.

Regional Insights

North America maintains a leading position in the global Enterprise IoT market, driven by the early integration of connected solutions across industrial and commercial sectors. The region benefits from a robust ecosystem of major technology vendors and significant capital investment in high-speed telecommunications infrastructure. Additionally, frameworks established by the National Institute of Standards and Technology provide essential guidelines for security and interoperability, fostering corporate confidence in large-scale deployments. These factors collectively accelerate the implementation of automation and data exchange systems, ensuring North America remains the primary hub for enterprise connectivity solutions.

Recent Developments

• In December 2025, Nokia announced the advanced capabilities of its Cognitive Digital Mine (CDM), an AI-native industrial IoT platform tailored for mission-critical mining environments. The solution was designed to transform mining assets into intelligent, autonomous agents by combining ruggedized edge computing hardware with advanced real-time analytics. This platform enabled operators to maintain continuous asset tracking and predictive maintenance capabilities even in remote areas without reliable cloud connectivity. The technology was recognized for its ability to significantly reduce the total cost of ownership for connected assets and enhance safety and efficiency in the mining sector.
• In September 2025, Cisco and Tata Communications entered into a strategic collaboration to simplify the management of connected devices for enterprises worldwide. The partnership involved integrating Tata Communications' MOVE platform, which provides global cellular connectivity, with Cisco's cloud-based IoT Control Center. This integration was designed to enable businesses to deploy and manage large fleets of IoT devices across different countries and networks seamlessly. By addressing challenges related to fragmented connectivity and complex provisioning, the companies aimed to accelerate the rollout of IoT applications in industries such as automotive and logistics.
• In October 2024, Qualcomm Technologies launched the Qualcomm IQ series, a new portfolio of industrial-grade chipsets specifically engineered for challenging Industrial IoT (IIoT) environments. Unveiled at an industry event in North America, these processors were designed to support high-performance on-device artificial intelligence and operate within extreme temperature ranges. Alongside the hardware release, the company introduced the Qualcomm IoT Solutions Framework to assist enterprises in developing end-to-end solutions for sectors such as manufacturing, drones, and robotics. This initiative aimed to streamline the deployment of intelligent edge devices and improve operational efficiencies in industrial settings.
• In January 2024, Vodafone and Microsoft announced a ten-year strategic partnership designed to enhance digital platforms for more than 300 million businesses and consumers across Europe and Africa. As part of this collaboration, Vodafone committed to investing in the development of a standalone Internet of Things (IoT) business unit, while Microsoft agreed to invest in Vodafone's managed IoT connectivity platform. The companies planned to integrate Microsoft’s generative AI capabilities into Vodafone’s services to improve customer experiences and operational efficiency. This alliance aimed to scale IoT applications and cloud services for enterprise clients globally.

Key Market Players

• Microsoft Corporation
• IBM Corporation
• Cisco Systems, Inc.
• Intel Corporation
• Siemens AG
• Huawei Technologies Co., Ltd.
• SAP SE
• Oracle Corporation
• Amazon Inc.
• Alphabet Inc.

By Component	By Enterprise Type	By End-use	By Region
Hardware Software Services	Small & Medium Sized Enterprise Large Enterprise	Manufacturing Oil & Gas Utilities Transport BFSI IT & Telecomm Healthcare Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Enterprise IoT Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Enterprise IoT Market, By Component:

• Hardware
• Software
• Services

• Enterprise IoT Market, By Enterprise Type:

• Small & Medium Sized Enterprise
• Large Enterprise

• Enterprise IoT Market, By End-use:

• Manufacturing
• Oil & Gas
• Utilities
• Transport
• BFSI
• IT & Telecomm
• Healthcare
• Others

• Enterprise IoT Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE