The Internet of Things is here and growing exponentially
Tuesday, October 24, 2017 8:53 am EDT
"The Internet of Things: a movement, not a market"
LONDON (October 24, 2017) – The number of connected Internet of Things (IoT) devices worldwide will jump 12 percent on average annually, from nearly 27 billion in 2017 to 125 billion in 2030, according to new analysis from IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions.
In a new free ebook entitled “The Internet of Things: a movement, not a market,” IHS Markit details how the IoT is revolutionizing the competitive landscape by transforming everyday business practices and opening new windows of opportunity.
According to the ebook, global data transmissions are expected to increase from 20 to 25 percent annually to 50 percent per year, on average, in the next 15 years.
“The emerging IoT movement is impacting virtually all stages of industry and nearly all market areas — from raw materials to production to distribution and even the consumption of final goods,” said Jenalea Howell, research director for IoT connectivity and smart cities at IHS Markit. “This represents a constantly evolving movement of profound change in how humans interact with machines, information and even each other.”
IHS Markit has identified four foundational, interconnected pillars at the core of the IoT movement: connect, collect, compute and create. The entire IoT is built upon these four innovational pillars:
New connections of devices and information
Enhanced collection of data that grows from the connections of devices and information
Advanced computation that transforms collected data into new possibilities
Unique creation of new interactions, business models and solutions.
“While internet-connected devices hold tremendous potential, many companies are having difficulty identifying a consistent IoT strategy,” Howell said. “The four Cs of IoT — connect, collect, compute, create — offer a pathway to navigate and take advantage of the changes and opportunities brought about by the IoT revolution.”
IHS Markit provides insight and analysis for more than 25 connectivity technologies in 34 application segments used for the IoT. For more information on wireless connectivity technologies and the opportunities offered by the IoT, visit technology.ihs.com/iot-research or call +1 844 301-7334.
IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and expertise for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 key business and government customers, including 85 percent of the Fortune Global 500 and the world's leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.