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Smart home IoT overtakes enterprise IoT

Enterprise solutions have been the driver of the Internet of Things in recent years. In the 2020s, however, smart home technology and wearables are expected to take over the growth.

10 Nov. 2017
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Smart home IoT overtakes enterprise IoT

According to analysts from Strategy Analytics , by the end of 2017 almost 20 billion IoT and IoT-connected devices will be installed; another 10 billion are expected be added to that by 2021. While currently around 52% of installed connected devices and IoT entities are used in a corporate environment, the smart home segment in particular is going to grow exceptionally and be the largest segment for the Internet of Things in the 2020s. In as early as 2021, according to the prediction, the number of devices connected to and networked in the household will exceed the number of smartphones.

Wearables will have a special significance for the networked house in this respect. Already today billions of products fitted with sensors are sold each year. These developments mean that the entire market for wearable sensors will grow from USD 189.4 million in 2015 to an estimated USD 1.65 billion in 2022, or an average annual growth (CAGR) of over 30.14%.

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