Yesterday, Mobile Future member Verizon released its second annual State of the Market: Internet of Things report. Verizon uses IoT in a variety of vertical markets including smart cities, agriculture, tech, energy, healthcare, and transportation.
According to the report, there will be 25.6 billion connected devices in 2019 up from 9.7 billion in 2014!
What’s even greater? They predict that we are well on track for 30 billion connected devices by 2020. And the worldwide Internet of Things market spend will grow from $591.7 billion in 2014 to $1.3 trillion in 2019.
What’s next for the future of the Internet of Things and what does that mean for us consumers? According to Verizon, IoT adoption will grow significantly within the next 18 months. We can anticipate cleaner cities, the deliverance of better healthcare, and safer transportation and home security systems. Average consumers will become increasingly more comfortable using new IoT connected devices due to the simplicity, increased efficiencies, and tangible benefits that those devices will provide.
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