IoT devices will surpass world population this year
This next year will be a big one for the growth of the Internet of Things (IoT) worldwide, as the number of deployed devices in 2017 will surpass the global human population for the first time.
That growth doesn’t figure to slow down anytime soon. According to analyst firm Gartner, a projected 20.4 billion IoT devices are expected to be deployed by the year 2020. The numbers for 2017 are projected to grow by 31 percent, hitting 8.4 billion total devices. Spending is also on the rise, with an estimated $2 trillion projected to be spent in 2017 alone.
Consumer devices represent the majority of this spending, with 63 percent of all IoT devices being owned by private individuals. The rest are business devices.
The trends between these two branches of the IoT are distinctive. On the consumer side, the majority of connected devices will feature smart TVs, kitchen appliances, vehicles and other domestic projects enhanced by mobile technology. For businesses,…
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