According to recent research data by Juniper Research, the world will see a 285 per cent increase in the Internet of Things (IoT) devices by the end of 2020, which will mean 38 billion more devices.
The surprising fact about this increment, is that most of the growth in these devices will be coming from business sectors such as smart grids, smart buildings, etc. and not the usual headline grabbing ‘smart home’ devices.
The government has been supporting this increase and urging the retailers to adopt to these new trends because they will surely help improve their productivity and boost delivery times and stock efficiency by automating the entire supply chain.
According to V3, the Juniper analyst told them that all the businesses that are embracing this new change of IoT must make sure that they have the right systems in place to use the reams of additional data that they will be gathering.
“On the whole, the priority for most businesses in the context of IoT at present is adopting a connected strategy, particularly as more and more case studies of successful projects emerge,” the Juniper analyst says.
Firms and businesses can already see the huge cost benefits that are possible by adopting these trends even though that may involve some initial outlays and also deploying new systems and moving their existing systems to the cloud.
As of now, tech giants such as Cisco, Oracle and Google are unveiling different tools that are designed specifically to capitalise on this huge growth.