IoT Installed Base to Grow to 26 Billion Units by 2020: Gartner - The New Indian Express

IoT Installed Base to Grow to 26 Billion Units by 2020: Gartner

Published: 12th December 2013 06:53 PM

Last Updated: 12th December 2013 06:53 PM

The Internet of Things (IoT), which excludes PCs, tablets and smartphones, would grow to 26 billion units installed in 2020 worldwide, an almost 30-fold increase from 0.9 billion in 2009, according to Gartner, Inc.

The Internet of Things is the network of physical objects that contain embedded technology to communicate and sense or interact with their internal states or the external environment.

IoT product and service suppliers will generate incremental revenue exceeding USD 300 billion, mostly in services, in 2020, Gartner, a leading information technology research and advisory firm, said.

It will result in USD 1.9 trillion in global economic value-add through sales into diverse end markets, Gartner, said in its report 'Forecast: The Internet of Things, Worldwide, 2013'.

"The growth in IoT will far exceed that of other connected devices. By 2020, the number of smartphones tablets and PCs in use will reach about 7.3 billion units," the report quoted Peter Middleton, research director at Gartner, as saying.

"In contrast, the IoT will have expanded at a much faster rate, resulting in a population of about 26 billion units at that time," it said.

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