Article contributed by Callum Turcan, Corum Group
M&A activity in the IoT sector is robust, with 60 deals seen in the first quarter of 2025, and it is on pace to match 2024 levels. There are an estimated 20.1 billion connected devices worldwide, a figure forecasted to rise to 39.6 billion by 2033 due to growing demand from all types of industries and sustained strength in smartphone sales on the consumer side.
Advances in telecommunications technology, such as 5G, enables the flow of vast amounts of data collected by IoT devices that enterprises use to monitor soil moisture, determine automotive health and more. The six trends driving M&A activity in the IoT sector include agriculture applications, remote patient monitoring, advanced analytics, AIoT, energy consumption monitoring and industrial IoT.
Starting with our first trend, agriculture applications. IoT devices are being used to continuously collect biological data on livestock so farmers can better care for their flock. Highlighting this trend, ULikeKorea, a developer of a livestock monitoring system that utilizes bio IoT capsules, sold a 51% interest to MeTech Holdings in March to target opportunities in US and Brazilian markets.
Moving on to our second trend, remote patient monitoring. This technology enables healthcare providers to look after a larger patient group safely. Showcasing this trend, VitalTech, a provider of AI-powered health monitoring software for patients and healthcare organizations, was picked up by CoachCare in March to complement its remote patient monitoring capabilities.
Pivoting to our third trend, advanced analytics. Generating insights from large data streams requires modern solutions. Illustrating this trend, FoxInsights, a developer of IoT-based remote fuel and other tank monitoring solutions with AI-powered analytics capabilities for the energy industry, was acquired by Banyan Software in January to provide the company with the resources and strategic support to enable its next growth phase.
Shifting to our fourth trend, AIoT. Merging AI and IoT technologies significantly enhances the capabilities of the system handling the data. Highlighting this trend, Grid4C, an AI-powered machine learning platform that analyzes data from connected devices, was bought by Bidgely in March to strengthen the core capabilities of its UtilityAI Platform.
Our fifth trend is energy consumption monitoring. Companies are leveraging IoT technologies to locate where they can cut down on power needs and reduce waste. Showcasing this trend, Sensorfact, a provider of AI-powered energy consumption monitoring software and sensors, was pocketed by ABB in January to offer its customers new ways to digitize their manufacturing operations.
Lastly, our sixth trend is industrial IoT. Enterprises are deploying sensors all over the plant floor and machinery to make production activities more efficient. Illustrating this trend, Fconn, a developer of industrial IoT solutions, sold a majority stake to Metriks.AI in February to enable its customers to collect data and analyze industrial machinery in real time.
Companies that map to any of the six trends are seeing strong demand as acquirers are sitting on trillions of dollars that they must deploy. Growth in the number of connected devices, advances in telecommunications technology and improvements in IoT capabilities are driving substantial buyer interest in the IoT sector.
If you would like to speak to an M&A advisor about your company and current market opportunity, please reach out to Corum Group.
