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Internet of Things (IoT) Market: Accelerating at 19.4% CAGR with Cloud Technology| SkyQuest Technology

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WESTFORD, Mass., July 2, 2024 /PRNewswire/ — According to SkyQuest, the global Internet of Things (IoT) Market was valued at USD 318.8 billion in 2022 and is poised to grow from USD 380.6 billion in 2023 to USD 1572.37 billion by 2031, growing at a CAGR of 19.4% during the forecast period (2024-2031).

Internet of Things (IoT) refers to physical objects embedded with sensors and software to enable communication and share or transmit data. Growing demand for connected devices around the world and advancements in IoT technology are projected to drive the internet of things (IoT) market growth. The availability of low-cost sensors and rapid adoption of cloud technologies are also setting the tone for internet of things (IoT) market growth across the forecast period and beyond. The global Internet of Things (IoT) market is segmented into component and application, and region.

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Internet of Things (IoT) Market Overview: 

Report Coverage 

Details 

Market Revenue in 2023 

$ 380.6 billion 

Estimated Value by 2031 

$ 1572.37 billion 

Growth Rate 

Poised to grow at a CAGR of 19.4% 

Forecast Period 

2024–2031 

Forecast Units 

Value (USD Billion) 

Report Coverage 

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends 

Segments Covered 

Component, Focus Area and End Use Verticals

Geographies Covered 

North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Report Highlights 

Updated financial information / product portfolio of players 

Key Market Opportunities 

Government initiatives open door for investing in IoT market

Key Market Drivers 

Innovations in Sensor Technology to Boost Market Growth

Segments covered in Internet of Things (IoT) Market are as follows:

ComponentHardware, Software (Smart Surveillance, Data Management, Device Management, Application Management, Network Management), Services (Professional Services [Consulting, Implementation, Support & Maintenance], Managed Services)Focus Area Smart Manufacturing (Asset Tracking & Remote Management, Production Optimization, Workforce Management), Smart Transportation/Mobility (Traffic Management, Cargo Monitoring, Fleet Management, Ticketing & Toll Collection), Smart Energy & Utilities (Energy Efficiency, Energy Consumption, Energy Transmission & Distribution), Smart Retail (Geo marketing & Advertising, Smart Payment & Customer Experience), Connected Healthcare (Telemedicine, Clinical Operations Management, Imaging & Diagnostics), Smart Agriculture (Field & Crop Monitoring, Weather Monitoring), Smart Buildings (Identity & Access Management, Smart Water Management, Automation & Control), Other ApplicationsEnd Use Verticals Industrial, Commercial, Residential

Request Free Customization of this report:

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Any Functional IoT Device is Incomplete Without its Components

Hardware is a prominent sub-segment of the component segment as it brings in most revenue for internet of things (IoT) companies. Sensors, actuators, connectivity devices, and RFID tags are some key hardware components that are extensively used in IoT devices. Growing demand for advanced IoT devices is pushing companies to invest in the development of new hardware technology. Rising demand for remote monitoring in multiple industry verticals is also estimated to promote the use of advanced hardware components going forward.

The need for advanced software for IoT devices for data collection and analysis is projected to help the software sub-segment boost market development at a good pace. Increasing emphasis on process optimization and demand for custom applications are also slated to help this segment bolster internet of things (IoT) market growth. The launch of new digital transformation initiatives around the world is also projected to aid IoT software demand. The rising use of IoT devices in different automation applications is estimated to help the expansion of the service sub-segment. Integration of IoT devices with other advanced and smart technologies will also help internet of things (IoT) companies expand their revenue generation through services.

View report summary and Table of Contents (TOC):

https://www.skyquestt.com/report/internet-of-things-market

Smart Manufacturing Leading the Application Scope of IoT Technology

Rising emphasis on improving manufacturing facilities’ productivity and operational efficiency is promoting the adoption of smart manufacturing practices. Most smart manufacturing approaches rely on the utilization of the Internet of things and other connected technologies. The adoption of the Industry 4.0 trend is another key factor helping internet of things (IoT) adoption in smart manufacturing applications. The Internet of things (IoT) is important in almost all kinds of smart applications and the growing popularity of smart solutions around the world is slated to create new opportunities going forward.

Growing demand for better agriculture yield around the world has promoted the popularity of smart and precision agriculture. This trend is also estimated to bolster sales of IoT devices across the forecast period and beyond. Smart transportation and logistics are another application where IoT devices will be high in demand owing to rising demand for automation. High investments in smart infrastructure development will also create new opportunities for internet of things (IoT) providers in the long run

In conclusion, the internet of things (IoT) market has a lot of untapped potential in its sub-segments, where internet of things (IoT) companies can focus and generate impressive revenue going forward. Smart agriculture, smart transportation, and hardware are the top segments that are estimated to provide the best return on investment for internet of things (IoT) companies in the future. New companies as well as established market players can target the sub-segments to amplify their business scope.

 Related Reports:

Automotive IoT Market

Internet Of Things (IoT) Professional Services Market

IoT Security Market

5G IoT Market

IoT Sensors Market

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 

Contact:

Mr. Jagraj Singh

Skyquest Technology

1 Apache Way,

Westford,

Massachusetts 01886

USA (+1) 351-333-4748

Email: sales@skyquestt.com

Visit Our Website: https://www.skyquestt.com/

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LEAP Group Relaunches HumanView, a Growth Intelligence System Built to Explain Why Customers Behave the Way They Do

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Reimagined from the ground up, HumanView pairs statistical modeling with expert analysts to turn millions of real-world customer signals into business decisions

LOUISVILLE, Ky., Oct. 23, 2026 /PRNewswire/ — LEAP Group today announced the relaunch of HumanView, its growth intelligence service. The new version has been rebuilt from the ground up and now has a dedicated home at leapgroupnetwork.com/humanview.

HumanView analyzes what customers say and do across social platforms, e-commerce sites, review platforms, search behavior and user-generated content, including signals from Reddit, TikTok, YouTube, Meta, Amazon and Walmart+ that general AI tools cannot always access. Because the data reflects unprompted, real-world behavior, it avoids the response bias built into surveys and focus groups.

The service works in three layers. HumanView captures signals at scale, decodes millions of records through validated statistical models such as regression, correlation and clustering, and then relies on experienced analysts to interpret the patterns. Clients receive clear, human-validated insights instead of another dashboard.

“Machines find the patterns. Humans find the point,” said Alan Gilleo, CEO at LEAP Group. “The first version of HumanView showed us how much customers reveal when nobody is asking them questions. This version is built to explain why they act the way they do, and to put those answers in front of everyone making decisions, from product to service to marketing.”

HumanView focuses on three areas:

Growth Intelligence: customer motivations and how people perceive a brand and its competitors

Market and Category Intelligence: product pain points, service friction, unmet needs and competitive gaps

Audience Intelligence: new segments, positioning opportunities and gaps in the market

Every model is designed and validated by data scientists and benchmarked before it informs a recommendation.

To learn more about HumanView, visit leapgroupnetwork.com/humanview.

About LEAP Group
LEAP Group is a boutique marketing agency holding company with offices in Louisville, Indianapolis, Cincinnati and Chicago. Guided by the belief that brands should “Market Less. Matter More.,” LEAP gives clients access to specialized experts across its entire network. Learn more at leapgroupnetwork.com.

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SOURCE LEAP Group

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STEPHEN A. SMITH ADDRESSES WHITE HOUSE DINNER ATTENDANCE, REAFFIRMS COMMITMENT TO HBCUs AND PROTECTING CORPORATE INVESTMENT IN BLACK EDUCATION

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NEW YORK, Oct. 23, 2026 /PRNewswire/ — Stephen A. Smith, media mogul, New York Times bestselling author, and proud 1991 graduate of Winston-Salem State University, is addressing the public discussion surrounding his decision to attend a White House dinner with President Donald Trump, emphasizing his commitment to the long-term financial stability of Historically Black Colleges and Universities (HBCUs).

For Smith, the decision was rooted in a commitment to institutions that have educated generations of Black leaders, professionals, entrepreneurs, and public servants.

“I will always advocate for HBCUs and the students whose futures depend on them,” Smith said. “My reason for attending the White House dinner was to discuss the challenges these institutions face in securing long-term funding and to make the case that corporate America must continue to invest in them.”

Smith acknowledged federal support through the FUTURE Act while expressing concern that political tensions surrounding diversity, equity, and inclusion (DEI) could discourage private companies from supporting HBCUs. He maintains that these institutions deserve sustained corporate partnerships, philanthropic contributions, and public investment.

“If we truly believe in free-market capitalism, businesses should be able to support educational institutions and charitable causes without fear of criticism or repercussions,” Smith said. “HBCUs have made extraordinary contributions to this country. They deserve sustained public and private investment.”

Ashley Christopher, Esq., Founder and CEO of the HBCU Week Foundation, recognized Smith’s advocacy and decision to engage with the administration.

“Stephen A. Smith has been a powerful advocate for HBCUs, using his platform and influence to shine a national spotlight on our institutions,” expressed Christopher, “His continued support of HBCU Week helps advance our mission of connecting students with life-changing educational opportunities, and we are proud to have him as our ambassador.”

Since Smith became an HBCU Week Ambassador in 2019, the initiative has facilitated more than 15,000 on-the-spot college acceptances and raised and awarded more than $150 million in scholarships, according to the HBCU Week Foundation.

As public discussion continues, Smith is emphasizing the importance of ensuring HBCUs have the resources and partnerships needed to educate future generations and expand opportunities for students.

CLICK HERE to watch Smith’s full response to his White House visit.

MEDIA CONTACT:

media@mrsasinc.com

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SOURCE Straight Shooter Media

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Advantex Announces Completion of Financing and Extension of Maturity Date of Previously Issued Debentures

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TORONTO, Oct. 23, 2026 /CNW/ — Advantex Marketing International Inc. (CSE: ADX) (“Advantex”), a leader in the merchant cash advance and loyalty marketing products for merchants, today announced the completion of a $250,000 secured debt financing. Advantex issued a $250,000 non-convertible debenture which bears an interest rate at 12% per annum and matures December 15, 2027. The proceeds raised from this issuance of the Debenture will be used for working capital purposes.

Advantex has also extended the maturity of its existing $700,000 in 12% secured debentures from October 10, 2026 to December 15, 2027.

About Advantex Marketing International Inc.

Advantex provides working capital to merchants. Advantex also provides specialized marketing programs that enable members of Aeroplan to earn Aeroplan points at participating merchants.

Advantex shares trade on the Canadian Securities Exchange under the symbol ADX. For more information go to Advantex’s profile on www.sedar.com

Forward-Looking Information

This news release contains “forward-looking statements” within the meaning of applicable securities laws relating to the future business and operations of Advantex. Actual results and developments may differ materially from those contemplated by these statements. The business and operations of Advantex described herein is dependent on a number of factors and is subject to a number of risks and uncertainties. Factors that could cause actual results to differ material include, but are not limited to, changes in Advantex’s economic and competitive conditions including but not limited to the industry sectors in which Advantex operates.

The statements in this news release are made of the date of this release. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date the statements are made and Advantex undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

SOURCE Advantex Marketing International Inc.

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