From now until 2020, the global Internet of Things is expected to grow at a CAGR of 36 percent. That’s according to a new report out this week.
While some believe the IoT is still in its infancy, PYMNTS continues to monitor this network through the IoT Tracker, sponsored by Intel, focusing on technology integrated into everyday objects and life. And the IoT is related to many more things than we can even fathom — from wearable technology related to Olympic dreams, to our pets and the food they eat. The allure that IoT brings has drawn in Verizon, which recently bought Fleetmatics, to Buick souping up its cars' bells and whistles, to its impact at sports stadiums.
Which is why this report may seem like a no-brainer, but the important part is the impressive data.
The new report covers the present situation compared to the potential growth of the IoT, taking into consideration the market size, as well as applications and services. While aimed at improving real-time business decisions related to data storage and computing capacity, the report does not consider the sales of hardware systems and devices used in IoT setup.
The market is divided into three segments — Americas, APAC, EMEA — based on geography. The report is based on market analysis from industry experts and discussion of key vendors in the market, such as Alcatel-Lucent, AT&T, Cisco Systems and Qualcomm.
Dozens of other game-changing vendors — Google, Dell, Siemens — are listed and included in the report, as well as lesser-known ones that are equally changing the IoT movement.
Every day seems to invite another element into the IoT. What is next? What are we overlooking?