July 29: New data from Juniper Research has revealed that the number of IoT (Internet of Things) connected devices will number 38.5 billion in 2020, up from 13.4 billion in 2015: a rise of over 285 percent.
While IoT ‘smart home’ based applications grab media headlines, it is the industrial and public services sector – such as retail, agriculture, smart buildings and smart grid applications – that will form the majority of the device base. This is due in no small part to a much stronger business case for these types of applications.
The new research,
The Internet of Things: Consumer, Industrial & Public Services 2015-2020, found that while the number of connected devices already exceeds the number of humans on the planet by over 2 times, for most enterprises, simply connecting their systems and devices remains the first priority.
According to Juniper Research, the IoT “represents the combination of devices and software systems, connected via internet, that produce, receive and analyse data. These systems must have the aim of transcending traditional siloed ecosystems of electronic information in order to improve quality of life, efficiency, create value and reduce cost.”
The research notes that the IoT, therefore, is as effective as the sum of its parts. Mere connections create data; however, this does not become information until it is gathered, analysed and understood. The analytics back-end systems of the IoT will therefore form the backbone of its long-term success.
