Why IoT Matters to Enterprises, TEM Firms and ETMA Members


Today, there are more connected things than people in the world. Gartner calculates that approximately 8.4 billion IoT (Internet of Things) devices were in use in 2017. Total spending on IoT endpoints and services was almost $2 trillion in 2017, with two-thirds of those devices found in China, North America and Western Europe.
BI Intelligence, Business Insider’s premium research service, expects there will be more than 24 billion IoT devices on Earth by 2020. That equates to almost four devices for every human being on the planet. It is forecast that $6 billion will flow into IoT solutions, including application development, device hardware, system integration, data storage, security, and connectivity. Those investments will generate approximately $13 trillion by 2025.
Managing the exponential growth in connected things with IoT presents a challenge to enterprises and a business opportunity to ETMA members. ETMA members can help provide technology to manage inventory and costs. While connectivity costs for IoT devices may be small the huge number of connections will add up quickly and require new processes and technology to manage. ETMA members are well positioned to help. The IoT will make our environment — our homes and offices and vehicles — smarter, more measurable, and chattier.