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Internet of Things (IoT): Usage to Explode in Connected Vehicles, Smart Buildings, and Manufacturing
By all accounts the Internet of Things (IoT) is prepping for explosive growth. IoT refers not only PC and mobile devices connected to the internet, but also internet-enabled sensors and devices in industrial machines, home appliances, automobiles, buildings, and wearable devices.
Cisco predicts that the number of devices connected to the internet will double from 25 billion of 2015 to 50 billion by 2020.
IDC estimates the spending on IoT will double from $690 billion in 2015 to $1.3 trillion in 2019, 17 percent annual growth.
The use of IoT is increasingly being used for connected vehicles, smart buildings, manufacturing and transportation.
IC Insights said predicts that connected vehicles (passenger cars and light trucks) will be one of the fastest growing market category for IoT technology, showing more than 30 percent of annual growth.
Bettina Tratz-Ryan, vice president at Gartner, said that “smart commercial buildings will be the highest user of Internet of Things (IoT) until 2017, after which smart homes will take the lead with just over 1 billion connected things in 2018.”
Vernon Tuner, senior vice president and IoT Research Fellow at IDC, said that “manufacturing and transportation are both a good fit for IoT deployments. Both industries have been connecting their supply chains, products, customers, and even workers for some time now, and really embrace the value of business outcomes.”