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With 30 billion connected devices, IoT will be a $3 trillion market by 2020, says IDC

  1. The Internet of Things (IoT) market was estimated to be worth $1.3 trillion last year, and is projected to grow at a compound annual growth rate of 13 percent to reach $3.04 trillion in 2020 worldwide, according to the latest report from...

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  2. ddg4005

    ddg4005 TS Guru Posts: 362   +49

    I sense another unicorn being born. Maybe I've become jaded by all this technology but I am damn tired of hearing about the potential of markets that have yet to be realized.
     
  3. davislane1

    davislane1 TS Evangelist Posts: 3,566   +2,375

    Welcome to the business world. If you're only talking about markets that have already realized their potential, you're a day late and a barrel of money short. Not the position a news blog wants to be in.
     
    Ranger12 likes this.
  4. amstech

    amstech TechSpot Enthusiast Posts: 1,457   +606

    Agreed.
    Inflation is the blue collar excuse for all things and the destroyer of balance in society (among other things like incredible amounts of corruption & greed). However if you look at the last 10 years you will notice countless articles of massive job cuts everywhere.

    Number of devices used/purchased is directly tied to consumer wealth.
    It doesn't matter how big your watering hole is if there are no animals left to drink it.

    Without millions of people to make up for the difference and ridiculous made up inflation costs many of todays company's would be bankrupt or close to it.
     
    Last edited: Nov 10, 2014
  5. dividebyzero

    dividebyzero trainee n00b Posts: 4,891   +1,258

    Considering the vast bulk of connected devices and revenue* will derive from industrial Machine to Machine (M2M) technology, the steady economic metamorphosis from manufacturing to service to indolence is well in hand.

    * Assuming of course that the various consortiums (HSA, Intel+IBM etc) can actually agree on a common standard to make it happen of course :D:D:D
     
  6. captaincranky

    captaincranky TechSpot Addict Posts: 11,708   +1,887

    Of course 3 trillion dollars in 2020 dollars will only be worth about 300 billion dollars in today's money, but still an impressive number nonetheless.

    Well face it, 3,000,000,000.00 was engineered to be an impressive number. "Holey zeroes Batman, that's a lot of money"!
     

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