The Internet of Things (or IoT) sounds like one of those futuristic buzzwords that’s still just a little too far off to think much about. But the IoT — where once-unconnected things like watches, cars, healthcare equipment, etc. will be connected to the Internet — is already here, and it’s changing our health, how we build things, and how we get around, and creating billions of dollars in value across multiple sectors.
So let’s take a look at some of the most mind-blowing IoT stats and why all of it matters for investors.
Image source: Getty Images.
1. Research firm Gartner says that IoT devices have increased 31% from 2016 to 2017, hitting 8.4 billion connected “things” this year, and that the number will surge to 20.4 billion by 2020.
2. To help put the amount of IoT devices into context, consider that Ericsson predicts that the amount of IoT devices will surpass mobile devices by next year.
3. Spending on IoT devices and services will reach nearly $2 trillion this year. That spending will mostly be spread across North America, China, and Western Europe, where about 67% of IoT devices exist.
4. Consumers are still driving IoT device growth right now, and…