2016 Roundup Of Internet Of Things (IoT) Forecasts And Predictions

2016 Roundup Of Internet Of Things (IoT) Forecasts And Predictions

Bain predicts that by 2020 annual revenues could exceed $470B for the IoT vendors selling the hardware, software and comprehensive solutions.

McKinsey estimates the total IoT market size in 2015 was up to $900M, growing to $3.7B in 2020 attaining a 32.6% CAGR.

General Electric predicts investment in the Industrial Internet of Things (IIoT) is expected to top $60 trillion during the next 15 years.

IHS forecasts that the IoT market will grow from an installed base of 15.4 billion devices in 2015 to 30.7 billion devices in 2020 and 75.4 billion in 2025

Gartner predicts 6.4B connected things will be in use worldwide in 2016, up 30% from 2015, and will reach 20.8 billion by 2020.

IDC predicts global IoT revenue will reach $7.065B by 2020 from $2.712B in 2015, attaining a Compound Annual Growth Rate (CAGR) of 21.11%.

ATKearney predicts there will be a $1.9T productivity improvement, and $177B in cost reductions driven by IoT and realized by customers.

Verizon predicts the number of B2B IoT connections will increase to 5.4 billion by 2020.

According to GE Digital, the Industrial Internet has the potential to deliver up to $11.1T on an annual basis by 2025.

IndustryARC research predicts the Industrial IoT (IIOT) market will reach $123.89B by 2021.

Accenture estimates the Industrial Internet of Things (IIoT) could add $14.2T to the global economy by 2030.

Read the full article on Forbes here

IoT Forecast Roundup 2016