{"id":11982,"date":"2018-12-28T15:40:50","date_gmt":"2018-12-28T15:40:50","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=11982"},"modified":"2018-12-28T15:40:50","modified_gmt":"2018-12-28T15:40:50","slug":"10-charts-that-explain-iot-s-growth","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/10-charts-that-explain-iot-s-growth\/","title":{"rendered":"10 charts that explain IoT\u2019s growth"},"content":{"rendered":"<p>The internet of things (IoT) potential to reduce costs and enable new business models has made it one of the hottest and most-researched trends in recent years. The following ten charts shed some light onto IoT\u2019s explosive growth and what it likely means for our future.<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>By 2020, discrete manufacturing, transportation, logistics and utilities industries are projected to spend USD 40 billion each on IoT platforms, systems and services.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/thumbor.forbes.com\/thumbor\/960x0\/https%3A%2F%2Fblogs-images.forbes.com%2Flouiscolumbus%2Ffiles%2F2018%2F06%2FSpending-on-IoT-by-vertical.jpg\"><\/p>\n<ul>\n<li>Smart cities, connected industry and connected buildings are the top three IoT projects currently being implemented around the world.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/thumbor.forbes.com\/thumbor\/960x0\/https%3A%2F%2Fblogs-images.forbes.com%2Flouiscolumbus%2Ffiles%2F2018%2F06%2FIoT-Segments-and-Global-Share-of-IoT-Projects.jpg\"><\/p>\n<ul>\n<li>The IoT market will be worth USD 581 billion for ICT-based spend alone, growing at a compound annual growth rate (CAGR) of between 7% and 15%.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/thumbor.forbes.com\/thumbor\/960x0\/https%3A%2F%2Fblogs-images.forbes.com%2Flouiscolumbus%2Ffiles%2F2018%2F06%2FMcKinsey-IoT-Market-Size.jpg\"><\/p>\n<ul>\n<li>The North American IoT consumer electronics market is predicted to increase from USD 90 billion in 2017 to USD 180 billion in 2022, attaining a CAGR of 12.25%.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/thumbor.forbes.com\/thumbor\/960x0\/https%3A%2F%2Fblogs-images.forbes.com%2Flouiscolumbus%2Ffiles%2F2018%2F06%2FSize-of-the-Internet-of-Things-IoT-Market-by-Application-in-North-America-from-2017-to-2022-in-billions-of-U.S.-dollars.jpg\"><\/p>\n<ul>\n<li>The industrial IoT market is predicted to reach USD 123 billion in 2021, attaining a CAGR of 7.3% through 2020.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/thumbor.forbes.com\/thumbor\/960x0\/https%3A%2F%2Fblogs-images.forbes.com%2Flouiscolumbus%2Ffiles%2F2018%2F06%2FIIot-market-size.jpg\"><\/p>\n<ul>\n<li>Industrial IoT applications are relied on by 64% of energy companies for their digital transformation initiatives.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/thumbor.forbes.com\/thumbor\/960x0\/https%3A%2F%2Fblogs-images.forbes.com%2Flouiscolumbus%2Ffiles%2F2018%2F06%2FGE-Digital-Tranformation.jpg\"><\/p>\n<ul>\n<li>86 billion IoT sensors and devices will be in use in the consumer segment by 2020, growing at a 34.89% CAGR per year from 2017.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/thumbor.forbes.com\/thumbor\/960x0\/https%3A%2F%2Fblogs-images.forbes.com%2Flouiscolumbus%2Ffiles%2F2018%2F06%2FThe-Internet-of-Things-IoT-Units-Installed-Base-By-Category-2014-to-2020-in-billions-of-units.jpg\"><\/p>\n<ul>\n<li>Samsung, Qualcomm, LG, Huawei and Intel are the top five patent holders in the IoT industry today, together controlling over 13,300 patents.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/thumbor.forbes.com\/thumbor\/960x0\/https%3A%2F%2Fblogs-images.forbes.com%2Flouiscolumbus%2Ffiles%2F2018%2F06%2FIoT-Patent-Map.jpg\"><\/p>\n<ul>\n<li>Microsoft Azure IoT Suite is the most-favored platform by developers for enabling connected devices within their software projects.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/thumbor.forbes.com\/thumbor\/960x0\/https%3A%2F%2Fblogs-images.forbes.com%2Flouiscolumbus%2Ffiles%2F2018%2F06%2FAzure-IoT-Platform-1.jpg\"><\/p>\n<ul>\n<li>Chinese enterprises are mostly adopting IoT to increase competitiveness (23%); American companies, on the other hand, are mostly adopting IoT to reduce costs (19%).<img decoding=\"async\" src=\"https:\/\/thumbor.forbes.com\/thumbor\/960x0\/https%3A%2F%2Fblogs-images.forbes.com%2Flouiscolumbus%2Ffiles%2F2018%2F06%2FOvum-IoT-Goals-By-Country.jpg\"><\/li>\n<\/ul>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-11982 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='20 ways to achieve digital transformation'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/20-ways-to-achieve-digital-transformation\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/11\/20-ways-to-achieve-digital-transformation-infographic-2-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-7333\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-7333'>\n\t\t\t\t20 ways to achieve digital transformation\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Infographic: the true cost of a data breach'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/infographic-the-true-cost-of-a-data-breach\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/10\/financial-services-data-breach-infographic-1-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-11219\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-11219'>\n\t\t\t\tInfographic: the true cost of a data breach\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Video: Insurtech Innovation Day 2021'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/video-insurtech-innovation-day-2021\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/04\/Videozapis-vtorogo-onlajn-iventa-Insurtech-Innovation-Day-2021-150x150.jpeg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-15938\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-15938'>\n\t\t\t\tVideo: Insurtech Innovation Day 2021\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The internet of things (IoT) potential to reduce costs and enable new business models has made it one of the hottest and most-researched trends in recent years. The following ten charts shed some light onto IoT\u2019s explosive growth and what it likely means for our future. &nbsp; By 2020, discrete manufacturing, transportation, logistics and utilities &hellip;<\/p>\n","protected":false},"author":5,"featured_media":12013,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,367],"tags":[421],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/11982"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=11982"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/11982\/revisions"}],"predecessor-version":[{"id":11983,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/11982\/revisions\/11983"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/12013"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=11982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=11982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=11982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}