IoT Trends & Predictions
A look at recent IoT trends & predictions and a collection of our Internet of Things Trends reports.
IoT Trends
With a history that goes back twenty years, Telenor Connexion has witnessed and stimulated a number of technological shifts in M2M and the Internet of Things. The latest IoT trends have seen large-scale deployments become a reality, with IoT connection numbers growing into the billions. This is set to continue as more and more devices become connected and new use cases and business models are powered by IoT.
Recent trends in IoT have undoubtedly been impacted by the global coronavirus pandemic has undoubtedly affected the way IoT is developing. In a world where contact between humans is, for now, more limited, contact between devices, tools, and toys can help us to remain connected.
The Internet of Things (IoT) is one of the most prominent tech trends to have emerged in recent years. In simple terms, it refers to the fact that while the word internet initially referred to the wide-scale networking of computers, today, devices of every size and shape – from cars to kitchen appliances to industrial machinery – are connected and sharing information digitally, on a global scale.
Several trends continue to gather momentum, stimulating IoT’s prominence in 2021, from Industrial IoT devices to health-and-safety applications as COVID-19 continues to take center stage.
Here are a few facts, figures and trends, gathered across the web, that can help us understand where the IoT world is at, how it’s been impacted by the pandemics, and what to expect over the next few years:
Recent IoT Trends - Facts and Figures
- Analyst firm IoT Analytics reports that global IoT device connections reached 11.7 billion in 2020, outstripping non-IoT connections for the first time. The firm projects global IoT connections will reach 30 billion by 2025, driven by cellular IoT, low power wide area (LPWA) networks and wireless local area networks (WLAN).
- The connected car market is set to see accelerated growth in 2021, and sales should return to trend in early 2022, according to analyst firm ABI Research, which expects to see 115 million global connected car shipments, and a market value of US$83 billion in 2025.
- Wood Mackenzie Power & Renewables estimates that over the period 2020-2025, the total number of smart meters deployed will rise from about one billion to nearly 1.3 billion
- Berg Insight estimates that global cellular IoT module shipments increased by 14% to a new record level of 303 million in 2020. Annual revenues grew slower at 8% to reach US$3.4 bn. While the COVID-19 pandemic has affected demand in several major application areas in 2020, the global chipset shortage has had a broader impact on the market in 2021 and curbed growth of IoT device shipments in the near term. Until 2025, Berg Insight forecasts that cellular IoT module shipments will grow at a compound annual growth rate (CAGR) of 15.8% to reach 629.6 million units.
IoT Market Trends - A Global IoT Market Forecast
