The global IoT market will be worth $14.2 trillion in 2030. Currently, there are 6.7 billion “data collecting devices” in use with 20 billion projected for 2020. Gartner predicts there will be 25 billion connected devices by 2021, and Accenture suggests that the global IoT market will be worth $14.2 trillion in 2030. The old-school internet (“the internet of pages”) is dying off partly for the same reasons IoT is about to take off: data collection.
Industrial IoT can have a huge impact on automation and quality control. It’s the ability to allow remote management of systems and to collect massive amounts of data, will be the biggest driving factor for its success.