IoT has already become a well-known technology in the era of digital transformation. IoT can be seen as the next-gen interconnection paradigm which will allow connectivity amongst folk’s machines and devices without human intervention. It is the high-technology behind smartest cities, self-driving cars, and smart homes. A simple IoT app can make a huge difference in potential value by collecting insights and data for companies about not only who they are speaking to, but when, where, how much, and in which way.

Industry analysts have started calling IoT-the Industrial Revolution 4.0. Current efforts are focussed to interconnect IoT infrastructure and cloud-based technology which supplements the potentials of the Internet of Things While IoT machines and devices automate things, bring effectual communication between devices, save cost and time, there is one thing still concerning the consumers i.e. IoT security. There have been so many events that have made the IoT gadgets challenging to trust.

Highlights for IoT Statistics

The Internet of Things is now considered as the next big thing. IoT statistics reports are demonstrating how technical innovations will have a critical role in banking and finance, marketing, economy, healthcare, as well as government organizations.

• The global IoT market hit $100 billion in revenue for the first time in the year 2017, and experts suggest that this number will jump to about USD 1.6 trillion by 2025.

• As suggested by Forbes, its IoT market may get double and will hit around USD$520 billion by the end of 2021. The fame of IoT-connected gadgets has result to an increase in the development as well as the demand for IoT apps. However, IoT app development still has its set of challenges and security issues that cannot be ignored.
• Cisco IoT statistics also proposed a more modest number of approximately thirty billion IoT devices by the year 2020.
• FinancesOnlne IoT market trends hint that B2B IoT devices will grow to 5.4 billion in 2020 from 2.5 billion in 2017.
• McKinsey’s IoT growth stats say, there are around 127 new IoT things connecting to the net each second.
• According to Gartner’s IoT penetration stats, there will be almost 25 billion IoT devices in the whole world. On the flip side, Intel’s report forecasts 200 billion or more IoT devices connected to the Internet.

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