The Internet of Things (IoT) is everywhere and its use is growing fast. IoT is used by local governments to build smart cities. It’s used to build smart businesses. And, consumers are benefitting as it’s built into smart homes and smart cars. Industry analyst first estimates that over 20 billion IoT devices will be connected by 2020. That’s a 2.5x increase from the more than 8 billion connected devices in 2017*.
Manufacturing companies have the highest IoT spend to date of industries while the health care market is experiencing the highest IoT growth. By 2020, 50 percent of IoT spending will be driven by manufacturing, transportation and logistics, and utilities.