Gartner expects 20.8 billion connected things by 2020

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Analyst house Gartner expects the IoT industry to see 5.5 million new ‘things’ going live worldwide on a daily basis in 2016, ensuring a 30% year on year rise in connected things to 6.4 billion units at the end of year, taking the total to 20.8 billion by 2020.

Gartner vice president Jim Tully said: “Aside from connected cars, consumer uses will continue to account for the greatest number of connected things, while enterprise will account for the largest spending.”

Hardware spending on the enterprise will total $868 billion (£570.8bn) in 2016 while spending on consumer applications is expected to total $546 billion (£359bn) during the year.

Gartner segments connected things for the enterprise into two classes – generic or cross-industry devices and vertical-specific devices. Connected light bulbs, HVAC and building management systems are some of the products falling under generic or cross-industry devices, while vertical-specific devices include specialised equipment used in hospital operating theatres and tracking devices in container ships among others.

Tully added: “Connected things for specialized use are currently the largest category; however, this is quickly changing with the increased use of generic devices. By 2020, cross-industry devices will dominate the number of connected things used in the enterprise.”

Total services spending in the IoT is expected to see year-on-year growth of 22% to $235 billion in 2016. Though the professional category plays a leading role in services, connectivity services and consumer services are expected to see a higher rate of growth.

https://www.iottechexpo.com/wp-content/uploads/2018/09/iot-tech-expo-world-series.pngInterested in hearing industry leaders discuss subjects like this and sharing their IoT use-cases? Attend the IoT Tech Expo World Series events with upcoming shows in Silicon Valley, London and Amsterdam to learn more.

The show is co-located with the AI & Big Data Expo, Cyber Security & Cloud Expo and Blockchain Expo so you can explore the entire ecosystem in one place.

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