According to Gartner latest report, there will be 6.4 billion connected things in use worldwide in 2016, up 30% from 2015, and is expected to reach 20.8 billion by 2020. In 2016, 5.5 million new things will get connected every day and IoT will support total services spending of $235 billion, up 22% from 2015.
Gartner estimates that in consumer sector, there will be 4 billion connected things in use in 2016, and this number will rise to 13.5 billion in 2020. In terms of hardware spending, consumer applications will amount to $546 billion in 2016, while the use of connected things in the enterprise will drive $868 billion in 2016, the firm said.
Gartner has classified connected things into two classes: the first class consists of generic or cross-industry devices that are used in multiple industries, and second is vertical-specific devices that are found in particular industries.
“Connected things for specialised use are currently the largest category, however, this is quickly changing with the increased use of generic devices. By 2020, cross-industry devices will dominate the number of connected things used in the enterprise,” said Jim Tully, Vice President, Gartner.