We all know that IoT is going to be (or has already become) the next big thing to change our daily life. For sure you’ve heard this tons of times, but don’t you wonder exactly how fast the industry is growing? Or, how many businesses out there are actually adopting this new technology? Here are some numerical information of the IoT industry we thought you might be interested in.
How the industry is going to evolve into in the next 5 years?
For starters, prediction is always difficult to make (especially when it comes to technological ones). There’re some differences among published surveys, but on average, they foresee the number of devices connected to the internet to reach at least 25 billion worldwide by 2020. Furthermore, over half of them are IoT devices.
What is the current adoption rate?
According to a survey of 512 business and IT executives by CompTIA, 60% of organizations have started IoT initiatives or have pilot projects underway and 23% plan to start within a year. More detailed statistics can be found here.
Who will be the bigger adopter of IoT?
It’s hard to say whether it’s businesses or consumers. On one hand, IoT solutions can help businesses increase operational efficiency, productivity, and therefore lower costs. On the other hand, consumers account for massive demand and buying power.
Gil Press, “Internet of Things by the Numbers: What New Surveys Found,” Forbes, September 2, 2016.
John Greenough, “How the ‘Internet of Things’ Will Impact Consumers, Businesses and Governments in 2016 and Beyond,” Business Insider, July 18, 2016.