IoT

• Over the next five years the Elevator IoT market will register a 15.8%% CAGR in terms of revenue, the global market size will reach $30230 million by 2025, from $16830 million in 2019.
• The adoption of Internet of Things technologies for commercial transportation could create a market worth nearly $308 billion by 2024, a 12 x increase from today.
• One in five businesses grew that investment by 50% or more, and IoT platform revenues are expected to reach $66 billion in 2020, an increase of 20% from last year.
• There will be over 40 billion connected IOT devices generating nearly 80 zettabytes of data by 2025..
• The number of cellular IoT connections in the retail industry will grow at a CAGR of 10.0% from 72.4 million in 2019 to 116.6 million connections worldwide in 2024.
• The number of cellular IoT connections in the global retail industry will grow at a compound annual growth rate of 10.0% during the next five years to reach 116.6 million connections in 2024.
• The global edge computing market will hit USD 6.72 trillion within 2 years and that by the end of 2021 the number of IoT devices will exceed 30 billion.
• By 2025, there will be 41.6 billion Internet of Things devices generating 79.4 ZB worth of data, which would equal 79.4 trillion GB.
• IoT security: The global Internet of Things market will reach half a trillion dollars by 2021.
• The total number of IoT connections will reach 83 billion by 2024, rising from 35 billion connections in 2020.
• The global Internet of Things market will be worth $1.1 trillion in revenue by 2025 as market value shifts from connectivity to platforms, applications and services.
• Consider the explosion of e-payments, the downloading of music, games, and books, the billions of devices to be connected by the IoT, or the impact of 3D printing, where computer designs will be widely downloaded and actual products will be produced by consumers.
• Applying IoT to the ever-increasing number of assets tracked across the globe has meant that the asset tracking market is set to reach $32 billion by 2024, growing at 14.9% CAGR.
• Global IoT spending is expected to return to double-digit growth rates in 2021 and achieve a compound annual growth rate of 11.3% over the 2020-2024 forecast period.
• The number of devices connected to the Internet of Things will reach 1.5 billion in 2022, and the number of Industrial IoT (IIoT) connections will exceed 3.5 billion by 2023.
• The Internet of Things (IoT) can help increase agricultural productivity by 70 pc by 2050.
• The internet of things medical devices is expected to reach $72,000 million by 2021 which is equal to the growth rate of compound annual growth of 26.2%.
• The global Internet of Things (IoT) healthcare market is projected to grow nearly 39% from 2020's $72.5 billion to a 2025 estimated projection of $188.2 billion, at a Compound Annual Growth Rate during the forecast period.
• The global internet of things (IoT) enabled industrial wearables market is poised to grow by $2.29 billion during 2020-2024, progressing at a CAGR of 14% during the forecast period.
• The global IoT in healthcare market is projected to grow from USD 72.5 billion in 2020 to USD 188.2 billion by 2025, at a Compound Annual Growth Rate of 21% during the forecast period.
• Data created by connected IoT devices will experience a compound annual growth rate of 28.7% over the next five years, creating 79.4 zettabytes of data by the year 2025.
• As the Internet of Things (IoT) peaks in the next five years, electromagnetic pollution will become the new public health issue.
• The total number of IoT connected devices will reach to 30.73 billion devices by the end of 2020.

Last updated: 04 October 2020