The Internet of Things (IoT) is disrupting businesses, governments, and consumers and transforming how they interact with the world. Companies are going to spend almost $5 trillion on the IoT in the next five years — and the proliferation of connected devices and massive increase in data has started an analytical revolution.
To gain insight into this emerging trend, BI Intelligence conducted an exclusive Global IoT Executive Survey on the impact of the IoT on companies around the world. The study included over 500 respondents from a wide array of industries, including manufacturing, technology, and finance, with significant numbers of C-suite and director-level respondents.
Here are some key takeaways from the report:
- We project that there will be a total of 22.5 billion IoT devices in 2021, up from 6.6 billion in 2016.
- We forecast there will be $4.8 trillion in aggregate IoT investment between 2016 and 2021.
- It highlights the opinions and experiences of IoT decision-makers on topics that include: drivers for adoption; major challenges and pain points; stages of adoption, deployment, and maturity of IoT implementations; investment in and utilization of devices, platforms, and services; the decision-making process; and forward- looking plans.
This article originally appeared in BusinessInsider.com. To read the full article, click here.