Earlier this month, Gartner hosted its seminal Gartner Symposium and ITxpo event, during which the organisation revealed their latest Internet of Things (IoT) predictions, and explored the value and impact IoT will have at a service and enterprise level.
According to Gartner estimates, the IoT will support total services spending of $235 billion in 2016, up 22% from 2015. These services are presently dominated by the professional category (in which businesses contract with external providers in order to design, install and operate IoT systems), however connectivity and consumer services will grow at a faster pace in the forthcoming years.
The key findings from the research include the following. In 2016:
- 4 billion connected things will be in use worldwide, up 30% from 2015
- 5 million new things will get connected every day
- In total, 20.8 billion things will be connected by 2020
Gartner also predicts that enterprises will play a critical role in strengthening the amount of revenue the IoT generates:
“Aside from connected cars, consumer uses will continue to account for the greatest number of connected things,” says Jim Tully, Vice President and Analyst at Gartner, “while enterprise will account for the largest spending.”
Driving this spend are enterprises who are turning to the IoT to help drive efficiencies and save on costs, enable new business models, and introduce new revenue streams. Being utilised across a wide variety of applications in each of these areas, the IoT is a flexible answer to many of today’s business problems – connecting businesses in new and improved ways.
Key to the success of Internet of Things deployments is a flexible connectivity solution which can be easily scaled across wide geographies and to high volumes, while still presenting a cost-effective answer that delivers a clear return on investment. To deliver all this, while staying secure, 4G LTE provides a clear connectivity answer.
The growth and widespread availability of 4G LTE , featuring high bandwidth and low latency performance capabilities, is a key enabler to IoT applications by allowing connected “things” to communicate anywhere, anytime. Easily scaled, with typically lower implementation costs than fixed line or satellite, cellular communications are fast becoming a leader in this space with recent reports finding that LTE will in fact be the leading IoT technology by 2019.
Westbase Technology is a leading provider of 4G LTE networking solutions which deliver enterprise-grade security and simplified cloud-management – perfect for enterprise IoT deployments.