BTA Blog

The Growth of IoT in Business

Posted by Darron Millar on 05 December 2018

 

The global volume of data is increasing exponentially along the growth of the Internet of Things (IoT) and the ubiquity of connected devices. In the global IoT market, the installed base of IoT devices reached 23.1 billion devices in 2018. This is expected to grow to 30.7 billion devices in 2020 and to 75.4 billion in 2025. Much of the newly generated data is valuable; it can be used to optimise manufacturing operations, track assets with increasing accuracy, target existing consumer services with high granularity, and create entirely new services and business models.

IoT opens the door to endless possibilities in the world of business. Devices, appliances, and even vehicles can connect and exchange data through a wired or wireless network. Almost every Internet-connected device in your workplace can communicate with other hardware and software… but how can this help your business?

 

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