According to IHS, in 2015, there were about 15.4 billion connected devices. And this number is likely to increase to 30.7 billion, which again will take a great jump to 75.4 billion by 2025. Further, Intel’s projection is even bigger in terms of numbers. The company forecasts that there will be over 200 billion connected […]
Updated 18 October 2023
Global Delivery Head at Appventurez
According to IHS, in 2015, there were about 15.4 billion connected devices. And this number is likely to increase to 30.7 billion, which again will take a great jump to 75.4 billion by 2025. Further, Intel’s projection is even bigger in terms of numbers. The company forecasts that there will be over 200 billion connected devices which we will be witnessed by the end of this year.
Are the current IoT market trends a clear indication that the technology will emerge even stronger and better in the coming year?
Whether we are ready or not, the Internet of Things is taking over the world.
IoT, the giant ecosystem, is growing and shifting rapidly. IoT devices are everywhere, be it security cameras or coffee makers, from smart toothbrushes to smartwatches, connected cars to air quality sensors; IoT is everywhere.
In short, IoT will be changing our lives and making them more efficient and easier, all the while impacting areas like Industrial IoT healthcare, smart home market, and many more.
Witnessing billions of devices connecting each other every day is fascinating for the bystanders and businesses.
Before heading towards the IoT statistics and the upcoming years, let us take a quick detour and figure out out how businesses getting benefitted from IoT:
IoT is opening the door for new business opportunities and helping companies and IT pioneers to reap its advantages. IoT- driven innovations are certainly building strong business cases along with increasing the return on investments. Moreover, IoT innovations come with the potential to transform the way businesses and consumers approach the world.
There are several security challenges of IoT and its services that are integrated with video cameras and sensors to help monitor the workplace to ensure equipment safety and protection against physical threats or other damage.
When connected with several devices to the internet, IoT allows businesses to be smarter and faster with real-time operational insights while reducing operating costs.
IoT offers just-in-time training for workers, employees while improving labor efficiency and ultimately increasing organizational productivity.
With the help of sensors and connectivity, IoT apps for business automation improve tracking of assets, be it machinery, equipment, tools, etc., helping organizations benefit from real-time insights.
Improved productivity, asset utilization, and process efficiencies can save business expenditures along with leading an increase in the ROI.
Now, when we are done with how IoT will benefit businesses around, it is the right time to validate these benefits and see how IoT’s future in the world will look like in the coming years.
When we question what will the future of IoT bring to the stakeholder, several statistics emerge, clearing the clouds of doubts, unsureness, confusion.
As per IoT Analytics, Smart cities are a major and emerging concept in IoT. Over one-fifth of all publicly announced IoT projects involve IoT-driven “smart cities” of some kind, with most smart cities (45 percent) announced in Europe.
These striking Internet of Things market forecasts and numbers are pointing towards the need for IoT-based mobile applications connecting devices and ideas together. A need is leading to a sound demand for Internet of Things app development companies like Appventurez.
Q. What is the most popular market for IoT?
The worldwide market for IoT end-user solutions is expected to grow to $ 212 billion in size by the end of 2019. The technology reached over 100 billion dollars in market revenue for the first time in 2017. It is predicted that this figure will receive 1.6 trillion by 2025.
Q. What are the latest trends in IoT?
With the latest technologies such as 5G and cloud computing, IoT can improve operational efficiency, reduce costs, improve decision-making, and enhance customer experience. 5G, Healthtech, AIoT, Intelligent edge computing, and many more latest Internet of Things technology trends are available in the market.
Q. What are examples of IoT?
Several examples of IoT devices in the market include smart mobile, smartwatches, smart fire alarms, smart bicycles, fitness trackers, and smart security systems.
Global Delivery Head at Appventurez
Ashish governs the process of software delivery operations. He ensures the end product attains the highest remarks in qualitative analysis and is streamlined to the clientele’s objectives. He has over a decade of experience as an iOS developer and teams mentorship.
Posted : 18 July 2019
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