Forbes: 2016 Internet of Things Forecast and Market Estimation Summary

According to Forbes, this year's Internet of Things (IoT) and Industrial Internet of Things (IIoT) projections have increasingly focused on generating results based on sensor data and creating data sets for analysis. This future trend will be of great value in solving complex logistics, manufacturing, service and supply chain issues.

A good example of many IoT applications is that Lufthansa uses an IoT-based strategy to create a business that collects data from maintenance, repair, and overhaul (MRO) and delivers the data to customers. They also use real-time aircraft and weather sensors for comprehensive observations to improve punctuality and optimize command operations. Lufthansa brings together all available data to consistently deliver a superior user experience. The strategy of sensors and the Internet of Things also heralds the future of this industry.

The main contents of IoT forecasting and market estimation include:

IHS predicts that the installed base of IoT devices worldwide will grow from 15.4 billion in 2015 to 30.7 billion in 2020. In 2025, this number will reach 75.4 billion.

Forrester predicts that transportation, government security and surveillance retail and inventory management, and industrial asset management in primary manufacturing will be a hot area for future IoT growth. Forrester also found that larger companies are more likely to use the Internet of Things than small companies. In the survey, 23% of large-scale surveyed companies use the Internet of Things, and only about 14% of SMEs.

McKinsey estimates that the total size of the Internet of Things market will reach $900 million in 2015 and $3.7 billion in 2020, reaching a compound annual growth rate of 32.6%. Before 2025, the potential economic impact of the Internet of Things was 2.7 to 6.2 trillion US dollars.


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