Iot Anywhere, As Iot Connections Set To Outnumber Smartphones By 5 To 1
IoTNOW, Tuesday, July 23rd, 2024
A new free report by Beecham Research - IoT Anywhere: Wireless Data Wherever You Need It - confirms the worldwide IoT connections growth rate at 17.5% per annum over the period 2022-30.
To put that into perspective, there are currently twice as many IoT connections worldwide than number of smartphones in use, and this will increase to over 5 times by 2030.
The report shows regional growth rates varying widely. For example, while China's IoT market is now growing at a rate of 15.4% annually, India and South Asia's market is growing at 28.9% annually - almost double the rate. Although India is a much smaller market than China, this illustrates a wider trend of less developed markets now beginning to catch up at a fast rate.