2024 Global IoT Market: More Smarter Devices
RTInsights, Monday, September 9th, 2024
By integrating AI into IoT (a major trend in 2024), industrial environments can become smarter, more efficient, and capable of adapting to the complexities of modern operations.
A new report by IoT Analytics, a German market insights company, quantifies the explosive growth in connected IoT devices this year. It also finds that an important trend in 2024 is the integration of AI into IoT devices.
With respect to the expected growth in the market, IoT Analytics finds that connected IoT devices are projected to increase by 13% in 2024, reaching 18.8 billion by year-end. The company expects continued growth over the upcoming years. Specifically, it forecasts that the number of connected IoT devices will grow to 40 billion by 2030.
The report notes that three technologies make up nearly 80% of the market: Wi-Fi, Bluetooth, and cellular IoT. In particular, the report found that:...