Global Connected and IoT Device Installed Base Forecast 2018–2028
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A total of 32 billion IoT and connected devices were deployed worldwide by the end of 2023, and projected to grow by 8% annually to 46 billion IoT devices by the end of 2028. Enterprise IoT continues to account for half the volume albeit declining slowly in relative terms. Mobile Computing was traditionally the second largest IP connected device domain accounting for 30% in the last decade. In 2021 however, the Connected Home overtook Mobile Computing as the second biggest category and is forecast account for twice as many IP connected devices by 2028 (35% domain share versus 17%). This report collates and updates top line forecasts from multiple TechInsights device services and provides a realistic assessment of the nature and future scale of the global connected and IoT device market.
