The enterprise and automotive sector is forecast to have an estimated 5.8 billion Internet of things (IOT) endpoints in 2020.
This is according to an IOT report by research firm Gartner, which forecasts that by the end of 2019, 4.8´billion IOT endpoints are expected to be in use globally, up 21.5% from 2018.
According to the Global System for Mobile Communications, an endpoint, from an IOT perspective, is a physical computing device that performs a function or task as part of an Internet connected service.
The report, which provides a forecast in various sectors, found the utilities sector will be the highest user of IOT endpoints, totalling 1.17 billion devices in 2019, showing an increase of 17% in 2020 to reach 1.37 billion endpoints.
Building automation, driven by connected lighting devices, will be the segment with the largest growth rate in 2020 (42%), followed by automotive and healthcare, forecast to grow 31% and 29% in 2020, respectively.
"Electricity smart metering, both residential and commercial. will boost the adoption of IOT among utilities," says Peter Middleton, senior research director at Gartner.
"Physical security, where building intruder detection and indoor surveillance use cases will drive volume, will become the second largest user of IOT endpoints in 2020."
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.
In 2020, the two use cases that will produce the most endpoint electronics revenue will be consumer connected cars and networkable printing and photocopying, totalling $72 billion and $38 billion, respectively.
Connected cars will retain a significant portion of the total endpoint electronics spending, resulting from increasing electronics complexity leading to manufacturers implementing connectivity in a greater percentage of their vehicle production moving forward.
While printers and photocopiers will contribute significantly in spending by 2020, the market will decline slowly and other use cases such as indoor surveillance will rise as governments focus on public safety.
"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," notes Alfonso Velosa, research vice-president at Gartner.
"This will require the CIO's team to start developing a policy and architecture-based approach to support business units" objectives, while protecting the organisation from data threats. Product managers will need to deliver but also to clearly and loudly communicate their IOT-based business value to specific verticals and their business processes, if they are to succeed in this crowded arena."
This news was previously published on: https://www.itweb.co.za/content/KA3Ww7dlwO87rydZ
Sudipto is a Senior Content Developer at IoT Avenue who helped to build the content of the site along with several other sites with his compassionate SEO driven content. He is also a HubSpot, certified Content Marketer. He brings five years of experience to his current role, where he is dedicated to developing the content of different websites.
Jul 24, 2019 | IoT Companies News
Nov 06, 2019 | Press Releases
Oct 17, 2019 | Press Releases
Oct 15, 2019 | Press Releases
Oct 14, 2019 | Press Releases