Increasingly, businesses look to create value by linking connected devices
LONDON--(BUSINESS WIRE)-- Fueled by lightning-fast demand for ubiquitous connectivity, the number of connected Internet of Things (IoT) devices globally will jump by 15 percent year-over-year to 20 billion in 2017, according to new analysis from IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions.
In a free new report entitled “IoT Trend Watch 2017,” IHS Markit technology analysts have identified four key trends that will drive the IoT this year and beyond. Increasingly, the report says, businesses see the IoT as a tremendous opportunity to create unique value propositions by linking disparate systems of connected devices that range from multiscreen content sharing to smart city networks.
IHS Markit defines IoT as a conceptual framework, powered by the idea of embedding connectivity and intelligence into a wide range of devices. “These internet-connected devices can be used to enhance communication, automate complex industrial processes and provide a wealth of information that can be processed into useful actions – all aimed at making our lives easier," said Jenalea Howell, Research Director – IoT connectivity and smart cities for IHS Markit.
According to the report, the industrial sector -- led by building automation, industrial automation and lighting -- will account for nearly one half of new connected devices between 2015 and 2025.
IHS Markit has named these four trends as leading the IoT evolution in the coming years:
Trend #1 – Innovation and competitiveness are driving new business models and consolidation
Trend #2 – Standardization and security are enabling scalability
Trend #3 – Business models are keeping pace with IoT technology
Trend #4 – Wireless technology innovation is enabling new IoT applications
Note: IHS Markit provides insight and analysis for more than 25 connectivity technologies in 34 application segments used for the IoT. For more information on wireless connectivity technologies and the opportunities offered by the IoT, visit technology.ihs.com/iot-research or call +1 844 301-7334.
About IHS Markit (www.ihsmarkit.com)
IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 key business and government customers, including 85 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
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