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State of IoT Spring 2024

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A comprehensive 148-page report on the current state of the Internet of Things, including market update and forecast, latest trends, and more.
Document type: PDF, PPTX
Published: March 2024
Main author: Justina-Alexandra Sava
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About the report

The State of IoT – Spring 2024 report is a current IoT market assessment and comprehensive summary of recent market actions, including many detailed insights generated by the IoT Analytics team from Q2 2023 to Q4 2023. These insights are based on more than 30 (virtual) conferences and webinars, more than 100 individual interviews and discussions, and individual research results derived from different reports and models. The report also shows the results of our updated enterprise IoT market model and analyzes 56,000 earnings call transcripts from companies between Q4 2020 and Q4 2023.

The main purpose of this document is to broaden our readers’ knowledge of IoT and inform them about current trends shaping the market and short- and medium-term developments. All the discussed insights center around IoT-related topics but, in many instances, expand beyond IoT. The report presents a discussion of many current market developments, including the latest market environment and forecasts, regional and vertical focus areas, technology stack (cybersecurity, analytics/artificial intelligence [AI], platform/cloud, general software, connectivity, and hardware), and a discussion of investment and merger and acquisition (M&A) activities. Insights are substantiated with relevant examples and evidence.


Table of Contents

State of IoT – Spring 2024 (PDF)

  1. Overview and summary
    1. 1.1 Executive summary
    2. 1.2 How IoT Analytics defines the “Internet of Things”
    3. 1.3 Key findings from selected IoT Analytics reports in Q2 2023 –Q1 2024
  2. Global macroeconomic environment
  3. General IoT business sentiment
  4. Updated IoT market
  5. Major tech trend affecting IoT
  6. Current IoT trends – analysts’ take
  7. Recent IoT News
  8. IoT workforce developments
  9. IoT/ Digital sentiment by region
  10. IoT/ Digital sentiment by vertical/ industry
  11. IoT/ Digital sentiment by tech stack
  12. Investments and M&A activity
  13. IoT company revenues and stock performance
  14. About IoT Analytics


Justina-Alexandra Sava, Knud Lasse Lueth, Philipp Wegner

The report includes

  • Overview and summary
  • Global macroeconomic environment (indicators and their impact on IoT)
  • General IoT business sentiment (how macro themes affect IoT and the broader technology markets)
  • Updated IoT market (forecast on IoT enterprise spending and the number of connected devices)
  • The analysts’ take (analysts providing their views of current market developments and trends)
  • Recent IoT news (new regulations, government projects, product launches, and security breaches)
  • IoT workforce developments (layoffs and job postings by IoT broader technology vendors and end users)
  • IoT/digital sentiment by region (CEO quotes on short- and mid-term IoT/digital business sentiment)
  • IoT/digital sentiment by vertical/industry (CEO quotes on short- and mid-term IoT/digital business sentiment by segment)
  • IoT/digital sentiment by tech stack (CEO quotes on sentiment around software, cloud, platforms, cybersecurity, analytics/AI, connectivity, and hardware)
  • IoT start-up investment and M&A activity (top recent IoT-related investments, funding rounds, initial public offerings, and acquisitions)
  • IoT company revenues and stock performances (IoT-related revenues by IoT vendors and stock price performance)
  • About IoT Analytics (further info and upcoming reports)

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