The Internet of Things (IoT) is one of the technological trends that are being adopted more vigorously both by the consumers as well as through its applications in different verticals and industries.
The IoT will continue to be adopted strongly in the coming years, according to the third edition of the Global IoT Executive Survey of Business Insider Intelligence. The report says, the IoT market is on pace to grow to over $3 trillion annually by 2026.
The survey includes nearly 400 responses from key executives around the world, including C-suite and director-level respondents. It forecast that the total number of IoT devices is expected to grow from $9 billion in 2017, $10 billion in 2019 to more than 64 billion IoT devices by 2025.
This year’s survey data shows that companies’ plans to invest in IoT solutions are accelerating with 5G on the horizon and an uptick in IoT adoption.