Fast Facts: Are Enterprise IoT Forecasts Just Hype?

In the fast-paced IT industry, new statistics and data are released daily. Each week, Enterprise Mobility Exchange publishes Fast Facts, taking a look at interesting or noteworthy information impacting businesses.

The proliferation of enterprise-grade Internet of Things (IoT) has been spouted about endlessly in 2017, with forecasts predicting a nearly incomprehensible level of connected devices over the next half decade. But within those forecasts no true realization of ROI – either in terms of productivity or money – have been cited, and there may be a reason for that.

In a new report from Mobile Experts, a drilled-down focus looks at the state of IoT and suggests the quick-moving market isn’t going to be as robust as many think. Previous forecasts, also reported on by Enterprise Mobility Exchange, suggest in excess of 20 billion connected devices by decade’s end. Not so, says Mobile Experts, who forecast just six to 10 billion devices in that time frame.

In addition to the smaller number of connected devices – which excludes RFID tags – the report goes on to explain IoT’s growth has much to do with wireless connectivity technologies. Those 70 or so technologies currently in action, however, will be consolidated down to 20, maybe 25 over the long term based on a handful of factors.

So is IoT more hype than hope? It’s clearly in action now, and will only grow as mobility expands, but we’ll only truly know its impact as industries embrace transformation over the long term.

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