What is the scenario of Internet of things?

As per a survey by Uni Jyväskylä, the forecast for the sales of internet of things across the world in 2017 has been recorded as 1,26 billion dollars and in 2020 it was recorded as 1,8 billion dollars. The different sectors for the internet of things to work are smart Machine-2-Machine, smart electronics, smart mobility, smart health and smart utilities.

The global revenue forecast for the sales of Internet of things are high in smart machine 2 machines. Health and utilities are somehow attracted to a lesser amount of opportunities for internet of things to have high revenue forecasted. The sales forecast for RFID-Transponder across the world is 21.9 billion US dollar in 2020. A jump or a rise in the sales for RFID-Transponder from 2017 recorded as 14.5 billion US dollar. The market volume forecasted for machine to machine in 2022 is 242 billion US dollars.

The rise of the forecasted sales clearly provides a picture that IoT is in demand and will always be in the upcoming future also. But will it help to create a better revenue generation models or techniques for Smart health or Smart utilities. How far, the rise of such revenue going to impact the situation or the circumstance for IoT to create a demand in the various other sectors and expand the horizon for manufacturers to invest in a more strategic and organized way.

Sources: – Statista (Industrie 4.0 in Deutschland)

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