IoT Industry News in 2024

IoT Industry Architecture and Representative Enterprises


The Internet of Things (IoT) refers to the "Internet of Everything." It connects various physical devices, sensors, software, and other technologies through the internet to facilitate data exchange and real-time control. It imbues everyday objects with intelligence and connectivity, enabling them to communicate, exchange data, and thus deliver more intelligent, automated functions and services.

Basic Architecture of the IoT Industry

The perception layer is the lowest level of the IoT, primarily responsible for collecting data, including basic chips, sensors, and various identification devices such as RFID, voice recognition, and visual imaging.

The transmission layer is mainly responsible for data transmission, divided into wired transmission (Bluetooth, WiFi, Zigbee) and wireless transmission (cellular, LPWAN), including communication modules, communication networks, communication gateways, etc.

The platform layer is responsible for processing data, including connection management platforms, device management platforms, application enablement platforms, business analysis platforms, etc.

The application layer is the top layer of the IoT, mainly focusing on application data, such as smart terminals, smart homes, smart cities, smart logistics, smart agriculture, smart healthcare, etc.

Key Technologies of the IoT

It can be divided into three aspects: sensor technology, communication technology, and data processing technology.

Sensor technology is the foundation of the IoT, acting as its sensory organs, collecting various environmental information to provide rich data sources. These data include but are not limited to temperature, humidity, location, light, etc., providing basic information for the IoT to perceive the surrounding environment, thus laying a solid foundation for subsequent data processing and applications.

Communication technology is crucial for the IoT. Communication technology, like the circulatory system of the IoT, is responsible for transmitting the data collected by sensors to the data processing center and carrying out corresponding processing. Communication technology covers various methods such as wireless communication and wired communication, such as Wi-Fi, Bluetooth, mobile communication, etc.

Data processing technology is the brain of the IoT. Data processing technology analyzes and processes the massive amount of collected data, extracts valuable information from it, and realizes intelligent applications.

Representative Enterprises at Each Level

Perception Layer

Chip manufacturers: Intel, Qualcomm, Nordic, Semtech, Huawei HiSilicon, MediaTek, Horizon Robotics, Cambricon, etc.

Sensor manufacturers: ROHM Semiconductor, STMicroelectronics, NXP Semiconductors, GoerTek, Siward, etc.

Perception and identification device manufacturers: Impinj, Alien Technology, Avery Dennison, Honeywell, Invengo, Hanwang Technology, iFlytek, Hikvision, etc.

Transmission Layer

Communication module manufacturers: Quectel, SIMCom, Telit, U-blox, Sequans, Fibocom, Topband, Feasycom, etc.

Communication networks: AT&T, Verizon, Vodafone, Nokia, China Mobile, China Telecom, China Unicom, etc.

Communication gateway: Cisco, Ericsson, Huawei, ZTE, H3C, etc.

Platform Layer

AWS, Azure, Baidu, Tencent, Alibaba

Application Layer

Diverse and fragmented: Apple, Samsung, Huawei, BYD, Li Auto, NIO, Tesla, Haier Smart Home, Midea, Tuya Smart, Dahua Technology, H&T

Focus Topics of the IoT Industry in 2024


Artificial Intelligence (AI) has become the theme of the current era, widely used in various fields, bringing great convenience to our lives. In the market, communication chips are gradually integrating AI functions, making devices more intelligent in data transmission and processing. In addition, various sensor terminals embed AI capabilities, making devices more sensitive in perception and response. Moreover, products at various levels such as edge network devices, servers, and software platforms are combining AI capabilities to meet the rapidly growing demand for intelligence in today's society. For example, Qualcomm's latest Snapdragon X Elite and X Plus chips and Microsoft's Copilot+ PC, which have been embedded in models from Lenovo, Dell, Samsung, and other manufacturers, feature powerful AI capabilities including built-in GPT, AI drawing, real-time subtitle translation, etc.

Digital Health

Using IoT technology to collect and analyze health data, achieve personalized health management, and preventive medicine. At the 2024 CES exhibition, a large number of innovative products in the field of digital health and medicine attracted attention.

Sustainable Energy

IoT technology can be applied in the field of energy management to achieve intelligent monitoring, optimization, and conservation of energy, promoting the development and utilization of sustainable energy. This is evident from the booming development of new energy vehicles and the "dual-carbon" industry.

AI, health, and energy are all related to the fate of humanity and the planet, serving as the original intention of technology to change lives. They are not only the focus topics of the IoT industry but also the focus topics of all industries worldwide.


With the increasing number of IoT devices, security threats are also constantly increasing, making cybersecurity a key concern of the IoT industry.


The high-speed and low-latency characteristics of 5G technology will drive the rapid development of the IoT industry, achieving connectivity of all things. While there is still significant demand for 4G, it will take time for 5G to be widely applied in industries such as industrial and manufacturing. The research and development of 6G have already begun.

Edge Computing

Edge computing transfers data processing and storage capabilities from the cloud to the device end, improving data processing efficiency and reducing network bandwidth requirements.


Wireless network technology is rapidly advancing, with WiFi 7 transmission speeds increasing from the original 9.6Gbps of WiFi 6 to 46Gbps. In 2023, WiFi 6 flourished in private networks, gradually gaining market share, although its market share is still smaller than that of WiFi 4 and WiFi 5. Quectel Communications released two communication modules supporting WiFi 7 technology at CES 2024, and it is expected that by 2027, the shipment volume of WiFi3 products will approach 20%.

Short-range Wireless Technology

In the field of short-range wireless technology, UWB and Nearlink are the most notable in 2024. At the beginning of 2024, Qualcomm released UWB chipsets for mobile phones, which are expected to be officially used in smartphones on the market in Q4, while Nearlink will make significant progress in 2024, no longer just a concept. Chips, modules, and some terminals will begin to be used.

Passive IoT

Passive IoT, represented by RFID, is a hot topic in the industry. Passive IoT uses energy harvesting technologies such as solar energy and vibration energy to achieve self-sufficiency of IoT devices, reducing the frequency of battery replacement and environmental pollution. In 2024, the global shipment volume of UHF RFID tags reached 44.8 billion PCS, with a growth rate exceeding 30%.


With the advancement of the times and the continuous evolution of technology, the IoT industry is experiencing unprecedented development opportunities. The continuous growth of demand has become an important driving force for the vigorous development of this industry, and this growing demand has also stimulated the demand and motivation for continuous technological innovation. The market size of the IoT is expected to reach 1.17 trillion USD by 2024 and is projected to reach 2.37 trillion USD by 2029, with a compound annual growth rate of 15.12% during the forecast period (2024-2029). At the same time, the IoT industry also faces some challenges and opportunities. In the future, more new business models and application scenarios will emerge, bringing more development opportunities to the industry.

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