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IoT Market worth $153.2 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, Aug. 7, 2024 /PRNewswire/ — The IoT Market is expected to reach USD 153.2 billion by 2029 from USD 64.8 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 18.8% during the forecast period, according to a new report by MarketsandMarkets™.

Browse in-depth TOC on “IoT Market”

274 – Tables
53 – Figures
270 – Pages

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Scope of the Report

Report Metrics

Details

Market size available for years

2019-2029

Base year considered

2023

Forecast period

2024–2029

Forecast units

Value (USD Billion)

Segments Covered

by offering (platforms and services), application (asset management, supply chain management, business process optimization, workforce management, emergency & incident management, and other applications), focus area (smart manufacturing, smart transportation/mobility, smart healthcare, smart retail, smart cities, smart building, smart energy & utilities, smart agriculture, and other focus areas)

Region covered

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

Companies covered

AWS (US), Microsoft (US), Oracle (US), Cisco Systems Inc. (US), SAP (Germany), Avnet Inc. (US), IBM (US), Google (US), PTC (US), Software AG (Germany), Hitachi Ltd. (Japan), Telit Cinterion (UK), STC (Saudi Arabia), Alibaba Cloud (China), Braincube (France), Datadog (US), Bosch (Germany), Particle Industries Inc. (US), HQSoftware (Estonia), Clearblade (US), Ayla Networks Inc. (US), Losant IoT (US), IoT Factory (Belgium), Oxagile (US), Portainer.IO (New Zealand), Emnify (Germany), Sumatosoft (US).

The increasing adoption of technology is improving various sectors through up-to-date information and useful perspectives from IoT. The integration of cloud computing with IoT improves vast amounts of data analysis. Consequently; companies get aided not only in achieving operational efficiency but also in cost reduction, product/service innovation as well as providing ongoing growth together with investments in the IoT industry at large. This market can be subdivided into segments based on some factors such as offering, application, and focus area. The offering encompasses platforms and services, whereas application ranges from asset management to supply chain management, business process optimization, workforce management, and emergency & incident management among others. Under the focus area segment, there are aspects like smart manufacturing/smart transportation/mobility; smart healthcare/smart retail/smart cities/smart buildings/smart energy & utilities/smart agriculture etc. Through these various segments, one can gain insight into the changing IoT landscape and its possible implications for businesses in general.

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Based on offering, platform segment to hold the largest market size during the forecast period.

The most prominent market share in IoT among IoT platforms is expected, because they centralize the oversight and integration of various IoT devices and applications. Deploying, monitoring, and managing connected devices will be easier through these platforms resulting to increased effectiveness for large-scale projects. These tools are essential for handling and examining the large quantities of data produced by IoT devices, providing advanced data management and analytics features that allow for immediate insights and decisions based on data. Furthermore, IoT platforms offer the ability to scale to support the increasing amount of devices and users, along with the flexibility to incorporate emerging technologies. The main concerns about data safety and compliance with standards are resolved by security schemes based on identification, secret codes, and attack-finding methods. Their support for diverse usages in sectors such as smart cities, health care, and industrial automation is of importance thus making them strong players in the Internet Of Things (IoT).

Based on the application, emergency & incident management is expected to hold a higher growth rate during the forecast period.

The IoT Market is under increased growth in terms of emergency and incident management is quite high. Emergency situations need immediate response and coordination that require immediate monitoring needs offered through interconnected devices. Integrating IoT with AI and machine learning improves predictive analytics and decision-making, leading to improvised readiness and response. Enhanced awareness of the situation is accomplished using IoT devices like surveillance cameras and environmental sensors, offering detailed information for making well-informed decisions. The rising popularity of smart cities that use IoTs to improve city infrastructure has led to an increase in demand for advanced emergency response systems. Furthermore, organizations are being pushed towards implementing IoT solutions as there are increasing regulations on safety and emergency preparedness. The cost effectiveness and resource efficiency brought about by IoT technologies also contribute to their increasing prevalence. With investments made for IoT application in emergencies from both public and private departments alike reveal the great possibility of growth in this sector since there’s a need for data-oriented methods for managing incidents efficiently.

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Asia Pacific is expected to hold a higher growth rate during the forecast period.

The IoT Market in the Asia-Pacific region is set to witness an increased growth rate in the upcoming forecast period because of a combination of factors. The fast growth of cities and the construction of infrastructure in nations such as China and India are leading to increased interest in smart city technologies and modern infrastructure. In addition, a rising population in this area is increasing the need for consumer electronics and associated devices. The role of governments in this regard is evident through China’s “Made in China 2025″ program as well as India’s “Digital India” initiative meant to fast-track Internet of Things (IoT) digital transformation. In addition, innovations in IoT come from technological advancements and focus on research and development within the Asia-Pacific region. This results in the implementation of IoT in industries such as manufacturing to enhance automation processes thus leading to further market growth. Investing more into startup firms dealing with IoT coupled with improved 4G/5G network coverage enhances opportunity within the industry. These factors contribute collectively to building a strong basis for the fast expansion of the IoT industry across Asia-Pacific countries.

Top Companies in IoT Market:

The major vendors covered in the IoT Market are AWS (US), Microsoft (US), Oracle (US), Cisco Systems Inc. (US), SAP (Germany), Avnet Inc. (US), IBM (US), Google (US), PTC (US), Software AG (Germany), Hitachi Ltd. (Japan), Telit Cinterion (UK), STC (Saudi Arabia), Alibaba Cloud (China), Braincube (France), Datadog (US), Bosch (Germany), Particle Industries Inc. (US), HQSoftware (Estonia), Clearblade (US), Ayla Networks Inc. (US), Losant IoT (US), IoT Factory (Belgium), Oxagile (US), Portainer.IO (New Zealand), Emnify (Germany), Sumatosoft (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the IoT Market.

Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting

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Get access to the latest updates on IoT Companies and IoT Industry

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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One Country, Countless Journeys: Wego and the German National Tourist Office GCC (GNTO GCC) Inspire MENA Travellers to Discover Germany

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DUBAI, UAE, July 22, 2026 /PRNewswire/ — Wego, the number 1 travel app and the largest online travel marketplace in the Middle East and North Africa (MENA), has announced a strategic partnership with the German National Tourist Office GCC (GNTO GCC) to bring Germany’s distinctive character closer to travelers across the region, presenting a country where historic landmarks, regional traditions, creative cities, and striking natural scenery form part of the same journey.

Germany’s appeal lies in the contrasts travelers encounter from one destination to the next. A visit may begin among Berlin’s museums, contemporary neighborhoods, and architectural landmarks before continuing to Bavaria’s traditional towns and Alpine scenery. Elsewhere, Hamburg’s waterfront atmosphere, Cologne’s historic character, and Heidelberg’s picturesque setting reveal entirely different sides of the country.

The campaign which runs under the slogan ‘Germany – Simply inspiring’ will invite travelers to experience Germany through routes and journeys rather than individual attractions. Visitors can follow the Rhine past vineyards, riverside communities, and hilltop castles, travel through the wooded landscapes of the Black Forest, or explore historic towns where local traditions remain part of everyday life. Museums, design, music, architecture, and regional cuisine add further depth to each itinerary, connecting Germany’s past with its evolving cultural identity.

Speaking about the collaboration, Mamoun Hmidan, Chief Business Officer at Wego, said: “Travellers from the MENA region are increasingly looking for destinations that offer depth, variety, and the opportunity to enjoy different experiences within a single trip. Germany stands out by bringing together vibrant cities, rich cultural heritage, scenic landscapes, and distinctive regional experiences, making it an ideal destination for every type of traveller. Through our partnership with the German National Tourist Office GCC (GNTO GCC), we look forward to inspiring more travellers to discover Germany beyond its iconic landmarks and experience the diversity that makes every journey unique.”

Outdoor experiences will also play an important role in the campaign. From hiking and cycling to lake retreats, mountain escapes, and countryside journeys, Germany gives travelers the opportunity to move easily between urban exploration and nature. Its connected cities and regions allow visitors to create varied itineraries that may combine culture, relaxation, family experiences, shopping, and scenic discovery within one trip.

Yamina Sofo, Director of sales and marketing at the German National Tourist Office GCC (GNTO GCC), said: “Germany’s identity is shaped by the connection between heritage and modern life. Visitors can encounter centuries of history, vibrant cultural scenes, distinctive regional traditions, and varied natural landscapes as they travel across the country. Working with Wego gives us an opportunity to share these stories with more travelers from the GCC region and encourage them to experience Germany from different perspectives.”

The partnership will bring Germany’s regions and travel experiences to GCC audiences through editorial content, destination features, and practical trip-planning inspiration. By highlighting the country through its contrasts, local stories, and connected journeys, Wego and the German National Tourist Office GCC (GNTO GCC) aim to encourage travelers to see Germany not as a single experience, but as a destination that reveals something different at every stop.

About Wego

Wego is the number one travel app and the largest online travel marketplace in the Middle East and North Africa (MENA). Combining a dynamic travel marketplace with on-platform bookings, Wego enables travelers to easily search, compare, and book flights and hotels across hundreds of airlines, hotels, and online travel agencies. Beyond its B2C marketplace, Wego also operates WegoPro, a next-generation business travel platform, and WegoBeds, a MENA-focused bedbank. The company is dual-headquartered in Singapore and Dubai with offices in Bangalore and Mumbai.

For more information, visit www.wego.com

About the GNTB

The German National Tourist Board (GNTB) works on behalf of the Federal Ministry for Economic Affairs and Energy to represent Germany as a tourist destination and is funded by the Ministry in accordance with a decision taken by the German Bundestag. As the central organisation for promoting inbound tourism to Germany, the GNTB works closely with the German travel industry and private-sector partners and trade associations to develop strategies and marketing campaigns that promote Germany’s positive image abroad as a travel destination and encourage tourists to visit the country. The aim is to unlock future commercial potential and thus add value to the German economy by attracting international visitors to Germany.

The GNTB’s primary strategic areas of action are:

Targeted market research and detailed analysis of global travel trends and market-specific customer demandSupporting the German travel industry, which is dominated by small and medium-sized businesses, by sharing expertise and connecting German providers with the international travel trade.Raising awareness of the Destination Germany brand and enhancing the brand profile with a focus on digital transformation.

The ‘Germany. Simply inspiring’ brand profile represents a high-quality and service-oriented, travel destination in the market.

From its head office in Frankfurt, the GNTB manages 22 foreign representative offices in established and in high-potential source markets.

Follow GNTO’s accounts on social media:
https://www.instagram.com/germanytourismar/
https://www.facebook.com/germanytourismar/

 

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Jonah Launches its New Blog Builder Product Designed to Amplify GEO Strategies in Multifamily.

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WESTLAKE, Texas, July 22, 2026 /PRNewswire/ — Jonah, the leading provider of premium, fully integrated websites for the multifamily industry, launches its new Blog Builder product, a comprehensive blogging environment designed to amplify GEO strategies in multifamily.

Jonah, in response to the evolving AI generative results landscape and through their observation of the success of blog content for GEO enhancements, developed its Blog Builder product.

AI-generated results often surface highly specific content that directly answers the user’s search query. Because of their unique ability to present relevant and timely content that users are searching for, blogs are an ideal format for this content and are sourced more often in these generated results.

Jonah’s Blog Builder product was created to turn their client’s custom content into a GEO strategy. It is intended to be best understood by AI search engines, simple for clients to operate, and engaging for the prospective renter.

Blog Builder by Jonah is structured with standard Schema.org blog architecture in its backend to ensure the client’s content has the best opportunities to be read, understood, and surfaced by AI search engines. This gives clients the assurance that AI can understand their specific content automatically.

The blogging environment in itself is a highly tailored solution featuring categories and unlimited tagging with dedicated subpages for each, delivering additional searchable sources from one piece of content. These features, in addition to the schema, were developed to create a deeper environment for hosting this blog content, driving more surfacing power with less effort for the client.

The pagination, publishing details, and search features give the end user an engaging experience and the client full control over their content. The Blog Builder pulls from the property website’s distinct branding, bringing cohesion to the entire environment.

Multifamily clients can create unlimited posts with tailored tags, categories, and details in this comprehensive blogging environment, turning their custom content into GEO strategy, all with the power of Jonah’s Blog Builder.

About Jonah
Jonah builds beautiful, powerful, fully integrated websites exclusively for multifamily. Our industry-leading technology is designed to make your job easier and your properties more profitable. With the best shopping experience in multifamily, Jonah helps your portfolio generate more leads and drive more leases. Learn more about our property websites.

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China Southern Power Grid Showcases AI Innovations at World AI Conference

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SHANGHAI, July 22, 2026 /PRNewswire/ — China Southern Power Grid (CSG) showcased its latest AI-powered power systems and technologies integrating electricity, carbon and computing at the 2026 World AI Conference (WAIC) and the High-Level Meeting on Global AI Governance in Shanghai.

Among the highlights was MegaWatt Yunrui, an AI-native distribution network planning agent developed by CSG. In a live demonstration, the system automatically generated a comprehensive distribution network planning report — including risk assessment and grid topology recommendations — in just 10 minutes. The solution was named one of the conference’s Top 10 Signature Exhibits, becoming the only project from a central state-owned enterprise to receive the distinction.

This year, coordination between computing infrastructure and power systems was included in China’s Government Work Report for the first time. As CSG works toward becoming a global leader in electricity, carbon and computing coordination, the company has focused on building a fully proprietary end-to-end technology stack encompassing power-sector foundation models, intelligent robots and digital infrastructure. Among the exhibits were several technologies that the company described as domestic firsts and internationally advanced.

“We have integrated three systems that traditionally operated independently — electricity, carbon and computing — to establish China’s first industry-level electricity-carbon-computing coordination platform,” the company said. Built on the digital power grid, CSG has created a technology architecture spanning computing infrastructure, power-sector foundation models, AI agents and field devices. This end-to-end ecosystem supports the digital transformation of next-generation power grids through intelligent operations and coordinated capabilities across every layer.

At the core of the platform is MegaWatt Multimodal 2.0, a foundation model purpose-built for the power sector. At the application layer, MegaWatt Yunrui serves as an AI-native distribution network planning agent developed to support national energy security and the buildout of next-generation power systems. The company also introduced a range of digital infrastructure innovations, including PowerAtomOS, a proprietary unified operating system for power-sector IoT devices. Designed to provide centralized connectivity and management for hundreds of millions of connected devices, PowerAtomOS supports critical power equipment across virtually every operational scenario within CSG’s service area.

CSG said its strategy extends beyond deploying AI applications to building the technological foundation for the next generation of intelligent power systems.

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SOURCE China Southern Power Grid

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