By Tim Maytom
When most people think of the Internet of Things, their minds go to wearables and smart devices in the home, but there is also a rapidly growing market for enterprise IoT tech, with 1.2bn business-use devices currently connected to the internet.
According to US mobile network Verizon, this number will grow at 28 per cent year-on-year for the next five years, hitting 5.4bn by 2020, as businesses invest more and more in devices that can save money and relay useful information.
Verizon states that the growth in IoT is being driven by a mix of technological, political and social benefits for businesses, with connected devices and the data they provide enabling businesses to predict customer behaviour, improve operational efficiency, and meet regulatory requirements more easily.
The report identifies key areas of growth in different verticals on both large and small scales. In energy and utilities, 10 per cent of electricity will be micro-generated by consumers and contributed directly to smart grids by 2025, with smart metering providing granular data and smart grids enabling greater user control.
In the public sector, digital signage, connected CCTV and fleet management will improve emergency responses, while smart streetlights, car sharing and infrastructure saves money and tackles …read more
Source:: Mobile App News