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.
“We’re still at an early stage for IoT,” said research author Steffen Sorrell. “Knowing what information to gather, and how to integrate that into back office systems remains a huge challenge.”
Additionally, interoperability hurdles owing to conflicting standards continues to slow progress. Nevertheless, there are signs that standards bodies and alliances are beginning to engage to overcome these hurdles.
The whitepaper, “IoT ~ Internet of Transformation,” is available to download from the Juniper Research website.
