Internet of Things Predicted to Grow by 30% in 2016

A recent report by Gartner has indicated that the market for the Internet of Thing (IoT) is growing rapidly and should reach $235million in services spending next year.

This report suggests the number of connected devices will rise by 30%, resulting in around 6.4 billion units worldwide. Beyond that, Gartner foresees 20.8 IoT units around the globe by 2020.

Analysts also predict a significant growth in the prominence of IoT devices in business. These systems will become even more frequently used, spurring more organisations to contract third parties to deliver, install and operate such devices.

Gartner’s Vice President and a highly-credited analyst, Jim Tully confirms that: “IoT services are the real driver of value in IoT, and increasing attention is being focused on new services by end-user organisations and vendors.

“Aside from connected cars, consumer uses will continue to account for the greatest number of connected things, while enterprise will account for the largest spending,”

The report shows 4 billion connected devices in the consumer sector in 2016, with over 300% growth until 2020, when the number may rise to around 13.5 billion.

Tully added: “By 2020, cross-industry devices will dominate the number of connected things used in the enterprise.”