The Global IoT Opportunity

  • The world is undergoing a phase of digital transformation. Ordinary objects and devices in the physical world are starting to communicate independently and exchange information online, thanks to increased programmability, memory storage capacity and sensor-based capabilities
  • The advent of the IPv6 internet protocol, which makes it possible to have 600 quadrillion addresses per square millimeter of earth’s surface, means that in theory all physical objects can have their own IP address, creating a world of intelligent objects in the Internet of Things
  • Around 10 billion of the 1.5 trillion things in the world are currently connected – meaning that more than 99% of physical objects remains unconnected
  • In May 2016, the IDC (International Data Corporation) predicted that the global IoT market spending would rise from $693 million in 2015 to $1.46 trillion in 2020, with a base of installed IoT endpoints exceeding 30 billion
  • The McKinsey Global Institute has estimated the Internet of Things market to be worth $11.1 trillion by 2025 
  • Whilst market size and growth times remain uncertain, it is safe to say that many industrial and consumer goods will be linked, analysed and automated in the years to come