The amount IoT is predicted to drive in spending between 2016 and 2021. It has been touted as the “next Industrial Revolution” because of its impact on businesses, consumers and government.
The value IoT is expected to reach by 2024 as IoT takes over a greater share of the overall IT market. In that same year, M2M devices and services are predicted to be worth $2.5 trillion.
The number of connected IoT devices around the world is predicted to nearly quadruple between 2016 and 2025, increasing from 7.26 million to over 27.5 million.
Given the explosive growth in IoT technology, there are a number of challenges to consider when implementing, maintaining and improving your IoT solution.