The Future of IoT

Goals

To analyze the future of IoT by determining the impact of 5G on IoT, including the increase in data speeds and bandwidth and decrease in latency, a list of ten companies that are considered key players in IoT, the top 3-5 challenges in the IoT market, 15 statistics and projections on the future of IoT, insights or eight statistics on the role of Microsoft Azure as a key player in the IoT industry, ten examples each of IoT applications and use cases in the construction, industrial, and autonomous vehicle industries, including lists of company names, and five pieces of recent news on network/IoT network expansion through mesh networks. This information will be used in a white paper seeking to educate business professionals on the current and future state of IoT.

Early Findings

Future of IoT Insights

  • The global Internet of Things (IoT) Market is expected to grow by US$ 136.5 Billion by 2024 at a CAGR of 4% within the 2018 – 2024 forecast period.
  • The number of cellular IoT connections is expected to reach 3.5 billion in 2023, growing at a 30% annual growth rate.
  • The global IoT tech is projected to be valued at $6.2 trillion by 2025, with the maximum value from healthcare being $2.5 trillion and manufacturing being $2.3 trillion.
  • Some key players in the global IoT market include IBM Corporation, Oracle Corporation, Intel Corporation, SAP SE, Microsoft Corporation, Amazon, Bosch Software Innovations GmbH, AT&T Inc, Cisco Systems, and Huawei Technologies.
  • Some examples of IoT applications in construction include safety and security, concrete curing, waste management and structural health monitoring, Building Information Modeling (BIM) optimization and digital twins, and operations maintenance.
  • Some examples of IoT applications in autonomous vehicles include automatic emergency detection and the generation of diagnostic data for manufacturers and drivers.
We found some proprietary research from one of our data partners which may be helpful:
    • Internet of Things (IoT) in Industry Verticals: IoT in Major Sectors and Outlook for Managed Services and Data Services 2017 – 2022. (Mind Commerce, $1,995)
    • 5G Autonomous Vehicles Business Models and Technical Considerations: Internet of Things Use Case Study. (IDC, $4,500)
If you'd like us to purchase any of these reports on your behalf, just let us know!

Summary of Findings

  • The preliminary hour of research shows that information on the future of IoT is publicly available, including the impact of 5G on IoT, the role of Microsoft Azure as a key player in the IoT industry, and IoT applications and use cases in the construction, industrial, and autonomous vehicle industries.
  • We uncovered some statistics and projections of the future of IoT as well as a list of ten companies that are considered key players in the IOT market.
  • We recommend continuing the research as follows.

Proposed next steps:

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