Riding the IoT Tidal Wave
21 billion. That is the number of IoT devices Gartner predicts will be online by 2020. And those 21 billion devices are expected to drive $1.7 trillion in revenue by 2020. Home and healthcare devices, wearables, and automotive technologies will continue to grow explosively over the next few years, so any enterprise working on a mobile strategy must keep an eye (or at least a remote sensor) on the IoT arena and consider how it will impact their areas of business.
The dropping prices of processors, sensors, and other IoT-related hardware are key to the growth of the IoT market, along with expanded internet connectivity and the growth of smart devices used to manage IoT devices. The cloud-based services that connect and drive the world of IoT are also experiencing massive growth – and they’re cheaper and easier to implement than ever before. To plan for this new world, enterprise mobility strategists should not only begin thinking about the new opportunities that IoT will bring to their doorstep, but also about the accompanying issues such as security, maintenance, privacy, and data management.