Internet of Things (IoT) forecast for 2020

According to the latest article in Forbes, which relies on BCG‘s recent analysis, the future of IoT in the coming years still looks great:

  • B2B spending on IoT technologies, apps and solutions will reach $267B by 2020.
  • By 2020, 50% of IoT spending will be driven by discrete manufacturing, transportation and logistics, and utilities
  • Spending on IoT applications is predicted to generate $64.1B by 2020.
  • IoT Analytics spending is predicted to generate $21.4B by 2020.

Predictive maintenance, self-optimizing production, and automated inventory management will be the three top drivers for IoT market growth up through 2020.

ten-use-cases-for-iot-growth - Internet of Things - Blackboxparadox.com

I am pleased to see “predictive maintenance” mentioned in the “Top 3” drivers since my current company is focusing on this subject and I am personally responsible for the analytics side of it.

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This entry was posted in IoT, Internet of things, smart connected devices, IoT analytics, Money, business, investments, statistics, trends, Past, present, and future and tagged , , , , . Bookmark the permalink.

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