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U.S. IoT Market

United States Market Study on IoT: High Usage Predicted in Smart Transportation Sector

U.S. IoT Market Outlook (2024 to 2033)

The U.S. Internet of Things (IoT) market was valued at US$ 56.26 billion in 2023 and is expected to reach US$ 63.24 billion in 2024. During the assessment period (2024 to 2033), the market is projected to expand rapidly at a CAGR of 15.6% to climb to US$ 270.28 billion by the end of 2033.

The Internet of Things (IoT) is a network of mobile devices, computing devices, and other physical objects that are integrated with software, sensors, and network connectivity, enabling data collection and sharing between them and other systems over the Internet.

IoT pertains to the capability of everyday objects to establish internet connectivity and interact with other devices or systems. This connectivity empowers enhanced automation, data gathering, and decision-making processes. IoT gadgets include smart household appliances, wearable fitness trackers, industrial sensors, and self-driving automobiles.

In the United States, IoT is being utilized to increase efficiency, reduce costs, and improve customer experience in a variety of industries, including healthcare, agriculture, transportation, energy, and manufacturing. IoT is also driving smart cities, which use linked devices and sensors to improve urban infrastructure and services such as traffic control, trash management, and public safety.

  • The United States accounts for nearly 20% share of the global IoT market in 2024
  • In April 2021, Apple announced its new Air Tag product, which uses Bluetooth connectivity to enable users to track and locate items such as keys and wallets. This product represents Apple's entry into the IoT tracking market.
  • In January 2021, the United States government announced the launch of the National Artificial Intelligence Initiative Office, which will coordinate federal investments in AI research and development, including in the IoT space.
Attribute Key Insights

U.S. IoT Market Size (2024)

US$ 63.24 Billion

Projected Market Value (2033)

US$ 270.28 Billion

U.S. Market Growth Rate (2024 to 2033)

15.6% CAGR

Market Share of IoT Sensors (2023)


Demand Growth from Small- & Mid-sized Organizations (2024 to 2033)

9.1% CAGR

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What’s Influencing the Demand for IoT Systems and Services in the U.S.?

“Increasing Focus of Businesses on Automation and Improved Process Efficiency”

IoT technology provides several advantages to businesses, including enhanced efficiency, automation, and improved decision-making capabilities. Businesses in the United States obtain important data and insights by connecting multiple devices, sensors, and equipment to optimize their operations and boost their bottom line.

As businesses attempt to automate their processes and lessen their reliance on human labor. The COVID-19 pandemic pushed many companies to incorporate IoT technologies into their systems. Demand for IoT devices and services is thus expected to grow further in the future.

Acceptance and implementation of IoT technologies by businesses in the United States are projected to increase demand for the country's IoT market. This trend is anticipated to continue in the coming years as businesses attempt to optimize their operations and boost their bottom line by leveraging the benefits of Internet of Things technology.

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How is U.S. IoT Market Growth Being Hindered to Some Extent?

“High Security Risks Associated with IoT Solutions”

The IoT is a fast-expanding market in which numerous gadgets are linked to the internet to facilitate communication and exchange of data between them. The Internet of Things has several benefits, such as increased efficiency and convenience, but it also poses significant security risks.

A security breach in the IoT can have serious implications, ranging from data theft and privacy violations to physical damage and even death. Both consumers and organizations are becoming more conscious of the significance of IoT security.

To address these security problems, the IoT industry must prioritize security by developing comprehensive security mechanisms and standards across all devices and networks. Manufacturers must incorporate security features such as encryption, authentication, and secure communication protocols into IoT devices from the start.

  • In February 2024, IBM announced a collaboration with AT&T to develop new edge computing and 5G solutions for enterprise customers.
  • In December 2023, Amazon Web Services (AWS) launched AWS IoT SiteWise Edge, a new feature that enables industrial customers to collect and analyze data at the edge of their network.
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Category-wise Insights

Why Do IoT Sensors Occupy a Leading Share of the U.S. Market?

“Rising Adoption of Cloud Computing Technology and Need for Efficient Data Processing Systems”

Wide adoption of linked devices across a range of industries, including healthcare, retail, manufacturing, and transportation, has significantly increased the adoption of IoT in recent years.

IoT sensors are essential to the operation of IoT systems because they gather, store, and process the data produced by connected devices. Demand for high-performance IoT sensors is rising along with the number of connected devices.

It is anticipated that the use of cloud computing is anticipated to increase demand for IoT sensors in the United States. Businesses may scale their IoT systems in accordance with changing needs without having to make substantial financial investments thanks to cloud-based IoT solutions.

Requirement for quicker and more effective processing of IoT data as well as the adoption of cloud computing technology is likely to be the main drivers of the rising demand for IoT sensors in the U.S.

IoT sensors accounted for 11.7% of the U.S. market in 2023.

What is the Demand Outlook for IoT Solutions from Small- & Mid-sized Organizations?

“Wide Availability of Cost-effective IoT Solutions Boosting Their Demand from Small- and Mid-sized Businesses”

Affordability and cost-effectiveness are significant drivers for the rising demand for IoT solutions in small- and mid-sized businesses. In comparison to larger corporations, these organizations often operate with limited budgets and resources. They are aware of the costs associated with implementing new technologies. IoT suppliers who provide affordable solutions and show a positive return on investment are more likely to catch the attention of these organizations.

Small and mid-sized businesses can reap the benefits of linked devices and data analytics without straining their financial resources by delivering cost-effective IoT solutions. Through IoT adoption, they may optimize their operations, automate processes, increase efficiency, and minimize human labor. This cost-effectiveness translates into practical benefits like greater productivity, simpler workflows, lower operational expenses, and increased competitiveness. The U.S. IoT market is poised for growth as more small and mid-sized organizations recognize the value and affordability of adopting IoT solutions.

Demand for IoT solutions from small- & mid-sized organizations is anticipated to swell at a CAGR of 17.4% during the forecasted period.

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Competitive Landscape

To enhance their product portfolios and deliver more customized and advanced U.S. IoT  Market services in the United States, companies are increasingly prioritizing acquisitions and partnerships with their competitors

  • In June 2020, Microsoft acquired the IoT security company CyberX to enhance the security of its Azure IoT platform.
  • In October 2020, Intel acquired SigOpt, an AI optimization platform provider, to enhance its AI and ML capabilities for IoT applications.

Recent developments related to key players providing IoT market solutions in the U.S. have been tracked by analysts at Persistence Market Research, which will be accessible in the full report.

U.S. IoT Market Industry Report Scope

Attributes Details

Forecast Period

2024 to 2033

Historical Data Available for

2019 to 2023

Market Analysis

US$ Billion for Value

Key Market Segments

  • Solution
  • Organization Size
  • Industry

Key Companies Profiled


Available upon Request

Key Segments of U.S. IoT Market Industry

By Solution:

  • Hardware
    • IoT Sensors
    • IoT Gateways
    • IoT Controllers
    • Others
  • IoT Platforms/Software
    • Cloud-based
    • On-Premise
  • Services
    • Professional Services
    • Technology Consulting
    • Integration & Deployment
    • Support & Maintenance

By Organization Size:

  • Small- & Mid-sized Organizations
  • Large Organizations

By Industry:

  • Industrial Automation
  • Connected Healthcare
  • Smart Transportation
  • Smart Retail
  • Smart Building Automation & Security
  • Others

- Companies Covered in This Report -

  • IBM
  • Amazon Web Services, Inc.
  • Microsoft Azure
  • Google Cloud
  • Cisco
  • Intel
  • Qualcomm
  • Siemens
  • Verizon
  • Dell

- Frequently Asked Questions -

The United States IoT market was valued at US$ 56.26 billion in 2022.

The IoT market in the U.S. is predicted to swell at a 15.6% CAGR through 2033.

Revenue from IoT solutions in the U.S. is forecasted to climb to US$ 270.28 billion by 2033 end.

The IoT platforms/software segment is set to account for 52.6% share in 2023.

Industrial automation is expected to account for 29.1% market share in 2023.

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