During the first three months of 2026, the Control and Sensor Systems subsector saw 35 deals or 36% of the total followed by the IT Services subsector at 19 deals or 20% of M&A deal volumes in the IoT sector. Significant activity also occurred in the Application Software space where there were 15 transactions, representing 15% of total deal volumes. Other noteworthy subsectors include Security, Mobility, Information Management, Enterprise Networking, and Energy & Power.