Gartner: IoT market growth shows no sign of slowing

#News(General) [ via IoTGroup ]

Gartner forecasts that the enterprise and automotive Internet of Things (IoT) market will grow to 5.8 billion endpoints in 2020, a 21% increase from 2019.
Utilities will be the highest user of IoT endpoints, totalling 1.17 billion endpoints in 2019, and increasing 17% in 2020 to reach 1.37 billion endpoints.
“Electricity smart metering, both residential and commercial will boost the adoption of IoT among utilities,” says Gartner senior research director Peter Middleton.
“Physical security, where building intruder detection and indoor surveillance use cases will drive volume, will be the second-largest user of IoT endpoints in 2020.”
Building automation, driven by connected lighting devices, will be the segment with the largest growth rate in 2020 (42%), followed by automotive and healthcare, which are forecast to grow 31% and 29% in 2020, respectively (see Table 1).
In healthcare, chronic condition monitoring will drive the most IoT endpoints, while in automotive, cars with embedded IoT connectivity will be supplemented by a range of add-on devices to accomplish specific tasks, such as fleet management.
IoT Endpoint Market by Segment, 2018-2020, Worldwide (Installed Base, Billions of Units)
Segment 2018 2019 2020 Utilities 0.98 1.17 1.37 Government 0.40 0.53 0.70 Building Automation 0.23 0.31 0.44 Physical Security 0.83 0.95 1.09 Manufacturing & Natural Resources 0.33 0.40 0.49 Automotive 0.27 0.36 0.47 Healthcare Providers 0.21 0.28 0.36 Retail & Wholesale Trade 0.29 0.36 0.44 Information 0.37 0.37 0.37 Transportation 0.06 0.07 0.08 Total 3.96 4.81 5.81
“Overall, end-users will need to prepare to address an environment where the business units will increasingly buy IoT-enabled assets without policies for support, data ownership or integration into existing business applications,” says Gartner research vice president Alfonso Velosa.

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