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Internet of Things (IoT): Businesses to Spend Nearly $1 Trillion on IoT in 2017

By Dick Weisinger

Businesses are increasingly using the Internet of Things (IoT). A recent survey by Gartner found that about one third of IoT applications are driven by businesses; the remaining two thirds are consumer driven. Popular applications include smart buildings, automotive and healthcare.

  • 8.4 internet-connected devices will be in use globally in 2017, an increase of 31 percent over last year.  There will be 20.4 billion in 2020.
  • Biggest users of IoT technology are China, North America and Western Europe
  • Global businesses will spend $964 billion on IoT devices in 2017.  Examples include meters and remote cameras.

Bettina Tratz-Ryan, Gartner research vice president, said that “the numbers show that we are seeing a lot of momentum, especially when it comes to real-time manufacturing and the increases in electric metering for smart grids. It really shows that there is a dire need for business processes to get better data for organisations to understand what is happening on their manufacturing floors and within critical infrastructure. It’s not just a toy anymore, but is really starting to gain traction.”

 

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