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What is the global demand for IoT in the world?

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The major gap of connecting the various devices and collecting the data through sensors in real-time created the importance of the IoT in the digital world. The manufacturing industry staged with the next stage of the industrial revolution led to the use of IIoT ( Industrial Internet of Things).

The demand of the IoT by the NASSCOM (India) shows the global manufacturing spending of the IoT in 2020,

  • In Field devices, 57%.
  • In Construction vehicles, 21.8%.
  • In Robots, 11.7%.
  • In Oil/gas well sensor, 5%.
  • In the Mining equipment subsystem, 4%.
  • In RFID tag reader, 0.3%.
  • In Asset tracking, 0.2%

The global IoT connected devices are expected to surpass 75 billion by 2025. The current scenario presents the IoT-connected devices in massive use. The three key reasons for IoT systems to use are:-

  1. Smart enterprise control- The application of IoT is not limited to smart connected machines but expanded to connected manufacturing components that are linked to a central computing system resulting in efficient production and lower costs.
  2. Asset performance management- The IoT connected devices with wireless sensors, cloud connectivity, and data analytics result in an efficient real-time information flow for the connected machines to predict accurately the machine breakdown and support the predictive maintenance.
  3. Augmented operators- The future use of IoT-based technologies in smart factories are enhancing the manufacturing plants to be more user-centric and less machine-centric.

As per IHS, the IoT-connected devices in 2025 would be more than 75.4 billion. The number is almost double that of the present scenarios.

The companies embracing IoT enabled predictive maintenance and wearable technology are:-

  1. ABB
  2. Airbus
  3. Apple
  4. GE
  5. Tesla.

Source:- Statista

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