Magazine article Information Management

Gartner Study Finds a 31% Spike in IoT Worldwide

Magazine article Information Management

Gartner Study Finds a 31% Spike in IoT Worldwide

Article excerpt

Based on its recent study, research firm Gartner Inc. predicts there will be 8.4 billion Internet of Things (IoT) devices in use worldwide by the end of this year, which represents a 31% spike from the end of 2016, as summarized recently on NetworkWorld.com.

The number is expected to keep growing at a similar pace until 2020, when some 20 billion connected devices are expected to be in use, according to Gartner.

Nearly two-thirds of connected products will be consumer items, such as smart TVs, set-top boxes, and automotive devices. Such home items as connected door locks and lightbulbs, though popular with tech-savvy targets, have not yet reached the mass consumer market

Businesses spend more than consumers on IoT products - doling out $964 billion this year, while consumers will spend $725 billion, Gartner predicts. For the business market, vertical industries like health care and manufacturing lead the way with 1. …

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