Commentary

The Big Numbers in The Internet of Things

Some of the numbers associated with the Internet of Things are striking.

They range from the millions to billions to trillions.

Earlier this week, I aggregated many of the percentages around the IoT, as I wrote about here (The Internet of Things by the Percentages).

While many of the percentages, especially around growth, are huge, they hardly compare to the sheer numbers, either by units or dollars.

So here for your edification are some of the numbers around the Internet of Things, with the source of each:

  • $125 – Gold price point for an IoT connected Device (YouGov)
  • 24 million – Number of wristware devices that will be shipped this year (IDC)
  • 85 million – Number of wristware devices that will be shipped in four years (IDC)
  • $103 million – Company IoT budget within three years (Tata Consulting Services)
  • 172 million – Number of wearables that will be sold in three years (CCS Insight)
  • 197 million – Wearables to be shipped within five years (Tractica)
  • 223 million – Number of connected devices in the so-called white-goods market within five years (IHS Home Appliance Intelligence Service)
  • 400 million – Number of beacons projected to be in the marketplace within five years (ABI Research)
  • 466 million – Worldwide market for sensors in four years (IHS Technology)
  • 700 million – Number of addressable, smart connected home-appliances within five years (IHS Home Appliance Intelligence Service)
  • $670 million – Will be spent by retailers this year for hardware and installation costs related to the IoT (Juniper Research)
  • $2.5 billion – Amount retailers will spend on hardware and installation costs related to the IoT (Juniper Research)
  • $3 billion – The amount IBM said it will invest in the Internet of Things (IBM)
  • 13 billion – Number of connected devices installed this year (Juniper Research)
  • 25 billion – Things that will be connected to the Internet within five years (IC Insights)
  • 30 billion – Number of connected devices in 2020 (IDC)
  • 39 billion – Number of IoT devices that will be installed within five years (Juniper Research)
  • $300 billion – IoT opportunity in revenue and costs savings in five years (Juniper Research)
  • $1.7 trillion – Internet of Things market size by 2020 (IDC)
  • $8 trillion – Value that the Internet of Things will generate over the next decade (Cisco, DHL)

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Even if some of these projections are off by some percentage, the direction of the IoT market is pretty clear.

 

1 comment about "The Big Numbers in The Internet of Things".
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  1. Devika Girish from MobStac, October 5, 2015 at 12:13 a.m.

    Very informative read. Thanks for sharing, Chuck. With the recent rise in the demand for contextually relevant  experiences more and more businesses have been looking to adopt beacons to trigger their customers with the right offer at the right time. However, inspite of all the hype around beacons, many marketers even today do not know what all can beacons be put to use. For example one of the commonly tossed questions by our customers is, what is the difference between geofencing and beacons, particularly because both actually try to achieve a similar goal – identify a user’s proximity to a particular location and trigger an action accordingly. We have discussed the basic differences between geofencing and beacons here: http://blog.beaconstac.com/2015/09/beacons-vs-geofencing-which-location-aware-technology-should-your-business-use/


     

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