Iot Communication Protocol Market To USD 23.94Billion By 2032, Owing To Expanding Smart Devices And Low-Latency Connectivity SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) The integration of IoT across industrial and consumer verticals is fueling demand for advanced communication standards.

Pune, June 27, 2025 (GLOBE NEWSWIRE) -- IoT Communication Protocol Market Size Analysis:

“ According to the latest SNS Insider report, the IoT Communication Protocol Market was valued at USD 16.95 billion in 2023 and is projected to reach USD 23.94 billion by 2032, growing at a CAGR of 4.2% from 2024 to 2032. ”

The U.S. market was valued at USD 4.76 billion in 2023 and is projected to reach USD 6.0 billion by 2032, growing at a CAGR of 2.64% during 2024–2032. Growth is fueled by the rapid expansion of smart home devices, 5G infrastructure, and enterprise IoT adoption across healthcare, automotive, and manufacturing sectors. Increasing investment in cybersecurity and protocol interoperability also supports long-term scalability.

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Major Players Analysis Listed in this Report are:

• Huawei Technologies (OceanConnect IoT Platform, LiteOS)
• Arm Holdings (Mbed OS, Cortex‐M33 Processor)
• Texas Instruments (SimpleLink CC3220 Wi‐Fi MCU, SimpleLink CC2652 Multiprotocol Wireless MCU)
• Intel (XMM 7115 NB‐IoT Modem, XMM 7315 LTE‐M/NB‐IoT Modem)
• Cisco Systems (Catalyst IR1101 Rugged Router, IoT Control Center)
• NXP Semiconductors (LPC55S6x Cortex‐M33 MCU, EdgeLock SE050 Secure Element)
• STMicroelectronics (STM32WL5x LoRaWAN Wireless MCU, SPIRIT1 Sub‐GHz Transceiver)
• Thales (Cinterion TX62 LTE‐M/NB‐IoT Module, Cinterion ENS22 NB‐IoT Module)
• Zebra Technologies (Savanna IoT Platform, SmartLens for Retail Asset Visibility)
• Wind River (Helix Virtualization Platform, Helix Device Cloud)
• Ericsson (IoT Accelerator, Connected Vehicle Cloud)
• Qualcomm (IoT Services Suite, AllJoyn Framework)
• Samsung Electronics (ARTIK Secure IoT Modules, SmartThings Cloud)
• IBM (Watson IoT Platform, Watson IoT Message Gateway)

IoT Communication Protocol Market Report Scope:

Report Attributes	Details
Market Size in 2023	US$ 16.59 Billion
Market Size by 2032	US$ 23.94 Billion
CAGR	CAGR of 4.2 % From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Segments	. By Type (Wi-Fi, Bluetooth, Zigbee, NB-IoT, Others) . By Application (Consumer Electronics, Automotive & Transportation, Building Automation, Healthcare, Others)
Key Growth Drivers	Rising Integration of IoT Devices Across Industries Drives IoT Communication Protocol Market Growth

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By Type: Wi-Fi Leads Adoption While Bluetooth Emerges as Fastest-Growing Standard

Wi-Fi remains the dominant segment in 2023 and accounted for a significant revenue share, due to its popularity in home and business settings, providing high bandwidth and device compatibility. With the growing number of connected appliances, offices, and medical devices, the convenience of integration and a strong ecosystem of Wi-Fi drive its market supremacy. The segment will also continue to lead through 2032, fueled by the proliferation of smart homes and offices.

Bluetooth is the fastest-growing market over the forecast period, driven by its usage in wearables, audio devices, and automotive infotainment units. Its power consumption is low, and it has improved data transfer capabilities, making it suitable for personal devices and near-field communication. BLE penetration in the healthcare and consumer electronics segments will keep driving its adoption over the forecast period.

By Application: Consumer Electronics Dominates, While Automotive & Transportation Grow Rapidly

The Consumer Electronics segment dominated the IoT communication protocol market in 2023 and accounted for a significant revenue share, due to the boom in connected devices like smartphones, smart TVs, and wearable tech. OEMs are incorporating IoT protocols at an accelerating rate to facilitate interoperability across devices and smart control functionalities. Improved user experience and connectivity requirements for living spaces are supporting segment growth.

The Automotive & Transportation segment is growing at the highest CAGR, driven by the development of connected vehicles, autonomous driving, and vehicle-to-everything (V2X) communication. OEMs are embracing IoT protocols for in-vehicle connectivity, fleet management, and predictive maintenance. With smart transport infrastructure in development, this segment will see rapid adoption in international markets.

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By Region: North America Dominates While Asia-Pacific Accelerates Rapidly

North America dominated the market in 2023 and accounted for 42% of revenue share, as a result of its established IoT ecosystem, robust regulatory environment, and early take-up across industrial and consumer markets. Key technology companies and telecos in the U.S. and Canada continue to spearhead innovation and protocol standardization.

Asia-Pacific region is the fastest-growing region over the forecast period, as China, India, and Japan make massive investments in smart infrastructure, smart agriculture, and automation in industries. Government-led digital transformation programs and increasing mobile penetration drive market growth throughout the region.

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