The need to understand the changes in your Industry may seem obvious, but the truth is that having a real perspective on what is going on is not always easy to come by.
Today we are going to talk about the 2020 predictions in IoT related to Industry. It is a fact already known that the Internet of Things potential helps your business to grow because reduces costs and enables new business models. And yes, it is very obvious to say IoT is one of the most-research emerging markets globally. Here we will see which are the 2020 predictions with different sources and visions of experts:
2020 predictions in IoT
Till $40B dollars in some concretes industries
According to Statista by 2020, Discrete Manufacturing, Transportation & Logistics, and Utilities Industries are projected to spend $40B each on IoT platforms, systems, and services. Moreover, Globally B2C Commerce ($25B) and Healthcare and Process Industries project to invest $15B each in IoT.
Smart Cities, Smart Industry and Smart Buildings
These three IoT projects are on the top of the IoT projects in progress. It depends on the part of the world we analyzed we will be talking of different sectors. For example, in the USA the leading IoT project is Connected Car. The source, in this case, is IoT Analytics.
Evolution of Digital Industrial Transformation
Many companies are conscious of the benefits of IIoT but are slow to transform. That was one of the summaries of the research, which General Electric did in 2017. At around 58% of the chiefs, who were interviewed, thought that IIoT is essential for attaining greater digital transformation.
«I think we’re still on the precipice of technological transformation and I think there will be additional tools within 5-10 years that will be astounding and compelling.» CFO, Manufacturing.
What about the number of sensors and devices?
Again Statista shares with us their vision. In Vertical-Specific the predictions are to grow from 1.64B units of sensors and devices to 3.17B in 2020. But 12.86 billion IoT sensors and devices will be in use in the consumer segment. A continued gap will get bigger in the coming years.
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