Residential consumers and commercial building owners-operators continue to adopt new Internet of Things (IoT) devices for their dwellings and buildings. Buyers are realizing benefits from the latest IoT technologies that can enhance energy management, provide greater controls, and increase comfort. This trend is also fueled by a growing awareness that connected devices can enable greater efficiencies through intelligence at the edge of networks and cloud-based IoT solutions. Nonetheless, the adoption of IoT devices has encountered persistent challenges. One is an interoperability issue, which happens when devices are unable to communicate or share data with other connected products because they are built on different platforms or use different communications protocols. Another is the concern about security risks that have surfaced from IoT devices that can be commandeered by bad actors exploiting vulnerabilities in the systems. A third is a level of uncertainty around the IoT device value proposition, which remains unclear for some potential adopters. Despite the challenges, the IoT market has shown resilience, and supply-side stakeholders recognize the need to solve these hurdles. According to Navigant Research, global residential and commercial IoT device revenue is expected to grow from $29.4 billion in 2016 to $123.8 billion in 2026. This Navigant Research report analyzes the market for residential and commercial IoT devices. Global market forecasts for IoT device revenue attributed to the residential and commercial sectors, segmented by device, sector, and region, extend through 2026. The report highlights the expected trends related to residential and commercial IoT devices and examines the potential market size.