2018 Roundup Of Internet Of Things Forecasts And Market Estimates

By April 8, 2019Product News

·         Worldwide technology spending on the Internet of Things to reach $1.2T in 2022, attaining a CAGR of 13.6% over the 2017-2022 forecast period according to IDC.

·         IoT Analytics predicts the global market for Internet of Things is expected to grow 37% from 2017 to $151B in 2018.

·         Ericcson is forecasting the number of cellular IoT connections is expected to reach 3.5B in 2023, increasing at a CAGR of 30%.

The combination of AI, machine learning and contextually rich, real-time data streams delivered by IoT sensors and networks is going to make IoT business cases compelling in 2019. IoT is the cornerstone of many organizations’ digital transformations, enabling them to optimize existing operations and excel at creating and pursuing exciting new business models.

In 2019 new Industrial Internet of Things (IIoT) platforms will be introduced that look to solve the most complex challenges manufacturers have of consolidating all production systems into a single data model. Manufacturers adopting IIoT and orchestrating analytics, BI, quality management, mobile technologies and the many benefits of real-time monitoring using IoT sensors will grow faster than the market, out-innovating their competitors in the process.

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