Latvia IoT Devices Market (2025-2031) | Trends, Industry, Competitive Landscape, Value, Growth, Outlook, Share, Size & Revenue, Companies, Forecast, Analysis, Segmentation

Name: Latvia IoT Devices Market (2025-2031) | Trends & Outlook
Creator: 6Wresearch
License: https://www.6wresearch.com/privacy-policy
Keywords: IoT Devices Market, Latvia IoT Devices Market, Latvia IoT Devices Market Revenues, Latvia IoT Devices Market Share, Latvia IoT Devices Market Size, Latvia IoT Devices Market Outlook, Latvia IoT Devices Market Report, Latvia IoT Devices Market Competition, Latvia IoT Devices Market Overview, Latvia IoT Devices Market Trends, Latvia IoT Devices Market Forecast

Market Forecast By Application Type (Connected and Smart Home, Medical IoT, Connected Car, Smart Cities, Industrial IoT, Personal IoT, Other), By Connectivity Type (WPAN, WLAN, LPWA, Cellular/M2M, Other) And Competitive Landscape

Product Code: ETC7913708	Publication Date: Sep 2024	Updated Date: Nov 2025	Product Type: Market Research Report
Publisher: 6Wresearch	Author: Dhaval Chaurasia	No. of Pages: 75	No. of Figures: 35	No. of Tables: 20

Latvia Iot Devices Market Top 5 Importing Countries and Market Competition (HHI) Analysis

Latvia`s import shipments of IoT devices in 2024 saw a significant increase in concentration, with top exporting countries being Lithuania, Estonia, USA, China, and Italy. The high Herfindahl-Hirschman Index (HHI) indicates a concentrated market, which intensified further in 2024. The negative Compound Annual Growth Rate (CAGR) from 2020 to 2024 at -34.65% suggests a declining trend, with a steep growth rate decline of -70.94% from 2023 to 2024. This data highlights the challenging landscape for IoT device imports in Latvia, signaling potential shifts in market dynamics and competitive pressures.

Latvia Iot Devices Market Top 5 Importing Countries and Market Competition (HHI) Analysis

Key Highlights of the Report:

Latvia IoT Devices Market Outlook
Market Size of Latvia IoT Devices Market, 2024
Forecast of Latvia IoT Devices Market, 2031
Historical Data and Forecast of Latvia IoT Devices Revenues & Volume for the Period 2021- 2031
Latvia IoT Devices Market Trend Evolution
Latvia IoT Devices Market Drivers and Challenges
Latvia IoT Devices Price Trends
Latvia IoT Devices Porter's Five Forces
Latvia IoT Devices Industry Life Cycle
Historical Data and Forecast of Latvia IoT Devices Market Revenues & Volume By Application Type for the Period 2021- 2031
Historical Data and Forecast of Latvia IoT Devices Market Revenues & Volume By Connected and Smart Home for the Period 2021- 2031
Historical Data and Forecast of Latvia IoT Devices Market Revenues & Volume By Medical IoT for the Period 2021- 2031
Historical Data and Forecast of Latvia IoT Devices Market Revenues & Volume By Connected Car for the Period 2021- 2031
Historical Data and Forecast of Latvia IoT Devices Market Revenues & Volume By Smart Cities for the Period 2021- 2031
Historical Data and Forecast of Latvia IoT Devices Market Revenues & Volume By Industrial IoT for the Period 2021- 2031
Historical Data and Forecast of Latvia IoT Devices Market Revenues & Volume By Personal IoT for the Period 2021- 2031
Historical Data and Forecast of Latvia IoT Devices Market Revenues & Volume By Other for the Period 2021- 2031
Historical Data and Forecast of Latvia IoT Devices Market Revenues & Volume By Connectivity Type for the Period 2021- 2031
Historical Data and Forecast of Latvia IoT Devices Market Revenues & Volume By WPAN for the Period 2021- 2031
Historical Data and Forecast of Latvia IoT Devices Market Revenues & Volume By WLAN for the Period 2021- 2031
Historical Data and Forecast of Latvia IoT Devices Market Revenues & Volume By LPWA for the Period 2021- 2031
Historical Data and Forecast of Latvia IoT Devices Market Revenues & Volume By Cellular/M2M for the Period 2021- 2031
Historical Data and Forecast of Latvia IoT Devices Market Revenues & Volume By Other for the Period 2021- 2031
Latvia IoT Devices Import Export Trade Statistics
Market Opportunity Assessment By Application Type
Market Opportunity Assessment By Connectivity Type
Latvia IoT Devices Top Companies Market Share
Latvia IoT Devices Competitive Benchmarking By Technical and Operational Parameters
Latvia IoT Devices Company Profiles
Latvia IoT Devices Key Strategic Recommendations

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1 Executive Summary

2 Introduction

2.1 Key Highlights of the Report

2.2 Report Description

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3 Latvia IoT Devices Market Overview

3.1 Latvia Country Macro Economic Indicators

3.2 Latvia IoT Devices Market Revenues & Volume, 2021 & 2031F

3.3 Latvia IoT Devices Market - Industry Life Cycle

3.4 Latvia IoT Devices Market - Porter's Five Forces

3.5 Latvia IoT Devices Market Revenues & Volume Share, By Application Type, 2021 & 2031F

3.6 Latvia IoT Devices Market Revenues & Volume Share, By Connectivity Type, 2021 & 2031F

4 Latvia IoT Devices Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.2.1 Increasing adoption of smart home technology in Latvia

4.2.2 Government initiatives promoting IoT infrastructure development

4.2.3 Growing demand for connected devices in industries like healthcare and manufacturing

4.3 Market Restraints

4.3.1 Data security and privacy concerns among consumers

4.3.2 Lack of skilled workforce for IoT device development and maintenance

5 Latvia IoT Devices Market Trends

6 Latvia IoT Devices Market, By Types

6.1 Latvia IoT Devices Market, By Application Type

6.1.1 Overview and Analysis

6.1.2 Latvia IoT Devices Market Revenues & Volume, By Application Type, 2021- 2031F

6.1.3 Latvia IoT Devices Market Revenues & Volume, By Connected and Smart Home, 2021- 2031F

6.1.4 Latvia IoT Devices Market Revenues & Volume, By Medical IoT, 2021- 2031F

6.1.5 Latvia IoT Devices Market Revenues & Volume, By Connected Car, 2021- 2031F

6.1.6 Latvia IoT Devices Market Revenues & Volume, By Smart Cities, 2021- 2031F

6.1.7 Latvia IoT Devices Market Revenues & Volume, By Industrial IoT, 2021- 2031F

6.1.8 Latvia IoT Devices Market Revenues & Volume, By Personal IoT, 2021- 2031F

6.2 Latvia IoT Devices Market, By Connectivity Type

6.2.1 Overview and Analysis

6.2.2 Latvia IoT Devices Market Revenues & Volume, By WPAN, 2021- 2031F

6.2.3 Latvia IoT Devices Market Revenues & Volume, By WLAN, 2021- 2031F

6.2.4 Latvia IoT Devices Market Revenues & Volume, By LPWA, 2021- 2031F

6.2.5 Latvia IoT Devices Market Revenues & Volume, By Cellular/M2M, 2021- 2031F

6.2.6 Latvia IoT Devices Market Revenues & Volume, By Other, 2021- 2031F

7 Latvia IoT Devices Market Import-Export Trade Statistics

7.1 Latvia IoT Devices Market Export to Major Countries

7.2 Latvia IoT Devices Market Imports from Major Countries

8 Latvia IoT Devices Market Key Performance Indicators

8.1 Average number of connected devices per household in Latvia

8.2 Percentage of IoT infrastructure projects funded by government initiatives

8.3 Rate of IoT device penetration in key industries such as healthcare and manufacturing

9 Latvia IoT Devices Market - Opportunity Assessment

9.1 Latvia IoT Devices Market Opportunity Assessment, By Application Type, 2021 & 2031F

9.2 Latvia IoT Devices Market Opportunity Assessment, By Connectivity Type, 2021 & 2031F

10 Latvia IoT Devices Market - Competitive Landscape

10.1 Latvia IoT Devices Market Revenue Share, By Companies, 2024

10.2 Latvia IoT Devices Market Competitive Benchmarking, By Operating and Technical Parameters

11 Company Profiles

12 Recommendations

13 Disclaimer

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Export potential assessment - trade Analytics for 2030

Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.

By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.

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