(MENAFNEditorial)
The number of IoT (Internet of Things) connected devices will reach 38.5 billion in 2020 up from 13.4 billion in 2015: an increase of more than 285% according to new data from Juniper Research.
While IoT “smart home” based applications are grabbing media headlines it is the industrial and public services sector – such as retail agriculture smart buildings and smart grid applications – that will form the majority of the device base. This is due in no small part to a much stronger business use for these types of applications.
Michelin and John Deere for example have successfully transitioned their businesses towards being service-based companies through the use of IoT as opposed to their previous incarnations as product vendors.
The new research “The Internet of Things: Consumer Industrial & Public Services 2015-2020” found that while the number of connected devices already exceeds the number of humans on the planet by more than double for most enterprises simply connecting their systems and devices remains the first priority.
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