Hardware

IoT market to reach $677B by 2025

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January 21, 2021

The global internet-of-things market is expected to reach $677 billion by 2025, according to research by BuyShares.co.nz. The market is also expected to grow by 53% during the forecasted period.

The consumer sector will dominate in IoT technology, with 40% of the market share. Following behind this sector will be the cross-vertical sector. The retail market will also see $28.4 billion in growth during the forecasted period.

China was the major market leader in 2019, with 60% market share and it will hold this position during the forecasted period, according to the research.