A new study from research firm Gartner suggests that there will be 25 billion connected devices in use by 2020, and that the Internet of Things (IoT) will support total services spending of $263 billion. At the moment, they are forecasting 4.9 billion devices during 2015, which will be an increase of 30 per cent from this year, and spending of $69.5 billion. It believes the IoT sector has already become a powerful force for business transformation, and its disruptive impact will be felt across all industries and all areas of society.
“The digital shift instigated by the Nexus of Forces (cloud, mobile, social and information), and boosted by IoT, threatens many existing businesses,” said Jim Tully, VP and distinguished analyst at Gartner. “They have no choice but to pursue IoT, like they’ve done with the consumerisation of IT.”
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“Government will take the number three spot as it invests in smart street and area lighting for energy saving reasons,” said Tully. “Utilities will move to the number one position because of investment in smart meters.”
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“The number of connected intelligent devices will continue to grow exponentially, giving smart things the ability to sense, interpret, communicate and negotiate," said Prentice. “CIOs must look for opportunities to create new services, usage scenarios and business models based on this growth.”
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