Fast Facts: 20B Connected ‘Things’ By End Of Decade

Contributor: Jason Koestenblatt
Posted: 11/23/2016
IoT
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One of the biggest buzzwords this decade is actually quite vague, but encompasses plenty. It’s called Internet of Things, or IoT, and essentially gives meaning to the network of physical objects that feature an IP address for Internet connectivity, along with the communication that occurs between those objects.

And as each year goes by, there are more and more of those objects hitting the market for a consumer base looking to be connected anytime, anywhere.

The rise is physical objects, or the “things” part of IoT, is staggering. Recent studies show the growth of IoT, in past years, but the remainder of this decade will is expected to see an incredible amount of growth.

According to Gartner, the IoT unit market sees a hockey stick curve increase between now and 2020. Take a look at the projection (figures in millions):

Year

2014

2015

2016

2020

No. of Devices

3,807

4,902

6,392

20,797

Percentage Increase

 

28.8%

30.4%

225.4%

In 2016, some 5.5 million new “things” were being connected every day, Gartner said.

Fast Facts is a weekly series where trends, growth, and data within the Enterprise Mobility space is highlighted. 

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Jason Koestenblatt
Contributor: Jason Koestenblatt