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The IoT communication protocols market is anticipated to be worth US$ 24.6 Billion in 2032, with a CAGR of 4.5% between 2022 and 2032. Consumer electronics are integrating IoT communication protocols as they enable connectivity and communication across devices, giving data sharing a defined structure and making it possible for devices from various manufacturers to work together. Demand for IoT communication protocols that can support edge devices is expected to increase due to the popularity of edge computing. The usage of IoT has increased significantly recently all across the world, with 8.6 billion IoT devices present worldwide in 2019.
