Internet of Things development plan for the nearest 5 years according to Business Insider Intelligence29 June 2016
Business Insider Intelligence specialists has conducted a thorough research of the Internet of Things industry and provided the report showing IoT prospects for the nearest five years. According to experts, the rapid growth of the IoT devices amount is expected within the near future. Particularly, there will be over 34 billion samples in the world by 2020, which is three times more than we have now. Furthermore, the share of smartphones and tablets will be only one-third of all gadgets.
Having analyzed the current industry condition and trends, specialists concluded that in five years around $6 trillion will be spent for creating Internet of Things tools and equipment. IoT solutions will be widely applied in business, because the Internet of Things will allow to automatize production, reduce costs, increase productivity and offer customers the whole spectrum of new services.
Representatives of various countries, aiming to bring the economy to another quality level, will be also interested in innovations. And common consumers will actively purchase functional devices and bring significant income to the IoT ecosystem.