The world is at the beginning of the digital revolution and the growth possibilities are endless. The analysts said that there are near about 4.9 billion connected devices and this number is likely to increase by four times during the next four to five years. Nearly 50 billion devices such as TV and smartphones will be connected by the end of 2020, said the report by the global research organization.
The surge of using connected ‘things’ – the network-based devices – over the next six years. The analysts said that there will be 5 billion connected things by end of next year and 25 billion by the end of 2020. While everyone is predicting the rise of the Internet of Things (IoT) and the emergence of using wireless devices at work and in the home is boosting the uptake of IoT. But there is no agreement on the sustaining of technology. Last year, Cisco, one of the companies offering the connected devices foreseen that near about 50 billion devices will be connected by the end of 2020.
Almost 71% of IT leaders are collecting data for IoT temporarily, global IoT spending is near about US$1.29 trillion within the next three years. The number of IoT and connected devices will be 62 billion by the end of 2024. For 2020, the installed IoT devices are expected to increase up to 31 billion. The overall Internet of Things is projected to value more than US$1 billion in 2017 and expected to rise the next ten years. In 2017, almost 20% of organizations were digitalized and now they are accepting other digital things for protecting their business initiatives using devices and services.