The Internet of Things is fueling the data-based economy and bridging the divide between physical and digital worlds.
Consumers, companies, and governments will install more than 40 billion IoT devices worldwide through 2023.
The next five years will mark a pivotal transformation in how companies and jurisdictions operate, and how consumers live.
Being successful in the digital age doesn’t just require knowing the latest buzzwords; it means identifying the transformational trends – and where they’re heading – before they ever heat up.
Take the Internet of Things (IoT), for example, which now receives not only daily tech news coverage with each new device launch, but also hefty investments from global organizations ushering in worldwide adoption. By 2023, consumers, companies, and governments will install more than 40 billion IoT devices globally. And it’s not just the ones you hear about all the time, like smart speakers and connected cars.
To successfully navigate this changing landscape, individuals and organizations must understand the full extent and functionality of the “Things” included in this network, the key drivers of each market segment, and how it all relates to the work they do every day.
Business Insider Intelligence, Business Insider’s premium research service, has forecasted the start of the IoT’s global proliferation in The IoT Forecast Book 2018 — and the next five years will be transformational for consumers, enterprises, and governments.
Consumer IoT: In the US alone, the number of smart home devices is estimated to surpass 1 billion by 2023, with consumers dishing out about $725 per household — a total of over $90 billion in spending on IoT solutions.
Enterprise IoT: Comprising the most mature segment of the IoT, companies will continue pouring billions of dollars into connected devices and automation. By 2023, the total industrial robotic system installed base will approach 6 million worldwide, …read more
Source:: Business Insider