Celebrate the 9th Annual IoT Day with these 9 IoT Forecasts

The Internet of Things Council dreamed up this special day back up in 2010, and ever since, IoT Day has been celebrated with events and hackathons in nearly 20 countries around the world. In 2016, we celebrated with a list of 24 Cool IoT Facts, one for every hour of IoT Day. For 2017, we put together a list of the eight most interesting IoT advancements and deployments that happened that year. In true Calysto fashion, we celebrate IoT Day 2018 with a roundup of nine IoT forecasts that help paint the picture of IoT’s impending takeover in 2018 and beyond.

1. In 2018, Ericsson expects the number of IoT connected devices to surpass mobile devices.
2. By 2020, Cisco estimates that there will be 3.4 connected devices per person.
3. According to IDC, worldwide spending on the IoT is forecasted to reach $772.5 billion in 2018, an increase of 14.6% over the $674 billion that was spent in 2017.
4. McKinsey states that globally, an estimated 127 new devices connect to the Internet every second. A report from the McKinsey Global Institute approximates that the IoT could have an annual economic impact of $3.9 trillion to $11.1 trillion by 2025.
5. Accenture estimates the Industrial IoT (IIoT) could add $14.2 trillion to the global economy by 2030.
6. According to Machina Research, the connected health market will reach $36 billion by 2024.
7. Bain predicts B2B IoT segments will generate more than $300 billion annually by 2020, including about $85 billion in the industrial sector.
8. According to IDC FutureScape, by the end of 2020, close to 50% of new IoT applications built by enterprises will leverage an IoT platform that offers outcome-focused functionality based on comprehensive analytics capabilities.
9. According to Gartner, spending on IoT security is expected to reach $547 million in 2018.

With the number of connected devices set to top 11 billion – and that’s not even including computers and smartphones – in 2018, IoT will continue to be a hot topic. This year, IoT continues to transition from proof of concept to reality. Enterprises now have higher expectations for scale, scope and return on investment from their IoT initiatives. We’re pumped about the limitless possibilities for the IoT industry.

Happy #IoTDay!