Internet of things to expand 30 times over

The internet of things is expected to expand to 26 billion installed devices by 2020.  That’s according to new Gartner research.

They call it the EoT, and the internet of things essentially refers to machines communicating, sharing and creating data with other machines through the internet.  It does not include personal computers, tablets or smartphones.  The EoT’s projected growth to 26 billion units will amount to slightly less than a 30-fold increase from the 2009 number which was less than one billion.

“The growth in IoT will far exceed that of other connected devices. By 2020, the number of smartphones tablets and PCs in use will reach about 7.3 billion units,” said Peter Middleton, research director at Gartner in a recent statement. “In contrast, the IoT will have expanded at a much faster rate, resulting in a population of about 26 billion units at that time.”

Here are a couple of the more interesting research results…

• IoT product and service suppliers will generate incremental revenue exceeding $300 billion, mostly in services, in 2020, resulting in $1.9 trillion in global economic value-add through sales into diverse end markets.
• Verticals that are leading its adoption are manufacturing (15%), healthcare (15%) and insurance (11%).

“The fact is, that today, many categories of connected things in 2020 don’t yet exist,” Middleton added. “As product designers dream up ways to exploit the inherent connectivity that will be offered in intelligent products, we expect the variety of devices offered to explode.”

The reality is that the world is changing fast.  Technology is exploding with innovation and various industries and organizations of all sizes are adopting.  The internet of things includes a lot of new data.  With hosted business management software like Microsoft Dynamics AX on demand in the cloud you can see a variety of benefits like better insight and improved control over your business.  But one of the biggest benefits of deploying a solution like AX in the cloud is that the system has the agility to keep up with the changing market trends and immerging technologies.  Not to mention the fact that choosing a reliable product like Microsoft guarantees that the best software innovators in the world are behind the solution, always keeping it stat-of-the-art.

About goERPcloud

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