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8 Statistics That Prove IoT will become Massive from 2018

As estimated by an IHS survey, there was more than 20 Billion connected devices globally in 2017. Is 2018 th
With the world becoming more connected than
Click on allow ever, 2018
to subscribe will be a significant period for Internet Of Things
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greater investments, widespread adoption, rise in
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that ofyou
would make IoTtheapp development services, and a place in t
industry
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industries and economies alike.
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In addition to this, there will be a rise in demand for IoT Mobile apps that would connect the devices, makin
see a new found demand for an IoT Application Development company, which would have the necessary cap

Only with the support of the capable institutes, the world will be able to witness an array of innovations and
beyond.

It is in 2018 that IoT will transform from its image of being a less paid attention to technology into the one t
globally and see major investments that will further its growth and innovation capabilities.

Here are the factors that will expand in 2018 to help define the path for IoT’s future in the world –

Greater Data Security

Heightened investments in Smart Homes and Smart Cities

IoT Cloud Platform will consolidate quicker

These factors that will get a greater share of focus in 2018, will contribute towards making IoT mainstream.

Wit the support ready, let us look at the 8 Internet of Things Statistics that validates how IoT’s future will be

1. The International Internet of Things (IoT) industry is expected to rise to $8.9T in 2020 from $2.99T in
Annual Growth Rate (CAGR). Percent of IoT usage in Industrial manufacturing is projected to grow fro
spending. Life sciences and IoT Application in Healthcare are also expected to grow to $1.335T in 2020

Source

2. The IoT market is set to rise from its valuation of $157B in 2016 to estimated $457B by 2020, accomplis
industry’s market share is going to be ruled by three sub-domains; Smart Cities – 26%, Industrial – 24%,
will be followed by 14% Smart Homes, 7% Connected Cars, 4% share in Smart Utilities, and 3% in Wearab
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Source

3. Bain forecasts that the B2B IoT market will make over $300 Billion yearly by 2020, which includes $85
estimated that the most competition in IoT will be seen in industrial and enterprise segments. Bain forec
by the year 2020, with the B2B apps being estimated at over $300B.

Source

4. $6T is expected to be spent on the Internet Of Things (IoT) solution industry within the time range of
The number of IoT investments made by the businesses will increase from its $215B valuation of 2015 to
consumer IoT spending will increase from $72B to $236B.

Source

5. The B2B expenditure on IoT technologies, solutions, and apps will get up to €250B ($296.8B) by 2020.
expenditure is expected to raise $23.7B by year 2020. It is estimated that from 2015 to 2020, the revenue
stack will have managed to make at least 20% CAGR.

Source
6. Refining the customer experiences (70%)
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subscribe safety (56%) are two domains enterprises have
to notifications
Attaining cost efficiencies, bettering the organization
And get information abilities,
that would make and gaining the supply chain visibility (53
you the industry
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of data that is generated using IoT solutions.
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Enterprises expect that the IoT solutions will increase the revenue and open up new markets in the wor
Enterprise IoT Mobile Apps, worldwide.

Source

7. By 2020, the mounted base of Internet of Things devices is also expected to grow to 31B globally. And
devices.

Source

8. The premium research institute, McKinsey Global has estimated that IoT will make a yearly economic
$3.9T to $11.1T by the year 2025. Their prediction scenario consists of use cases and diverse settings incl
environments, and healthcare.
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Now that you know how big the IoT market
leader straight is going
in your to be from 2018 on, let us delve a little into an element t
inbox

innovations and growth – Mobile

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The Need of IoT Application Development

Suppose you are outside, going office, and suddenly you remember you left the microwave on. If this happe
have to return back home and switch the microwave off, but with IoT Mobile Apps, you can switch the conn

{Read Also: Mobile Application Development Guide: Everything Worth Knowing}

While this is one example, there are a number of ways in which mobile apps have become an integral part o

It is impossible to talk about connecting devices without a mention of the only element that will be the brid

There has been a constant demand for support required for building an IoT app, while it comes with its own
too loud to ignore. From Healthcare and Consumer electronics to Retail and connected Wearable Apps, ther
Mobile Apps have placed themselves in the middle of the Internet of Things revolution.

Are you ready to become a part of the time when the world will become connected?

Related Articles:

Continue exploring the landscape of product design with these helpful resources:
“Possibilities of IoT Application in the Healthcare Sector,��?

“How Much Does it Cost to Develop an IoT App?,��?

“Explained: What is Internet of Things and How does it work?,��?


Shivam Srivastav is the Marcom Manager at Appinventiv. He is a dynamic marketing strategist who b
ways that are digestible to the end users. Shivam plans strategies to cross the technical corporate sp
 language that they can relate to - value, knowledge, and solutions. In order to reach the masses of u
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