What you need to know about the Internet of things market with a prospect of growing to $15 trillion.

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What you need to know about the Internet of things market with a prospect of growing to $15 trillion.

The Internet of things (IoT) is one of the rapidly developing industries related to the blockchain, artificial intelligence (AI) and smart technologies. New solutions in the field of the IoT, focused on the convenience of our daily lives, and the fight against climate change, appear with impressive speed. In “partnership” with bloccano and AI they are capable of a lot.

Last year, the market capitalization of the cryptocurrency market rapidly went to $1 trillion. Even with today’s decline to $200 billion, this market is five times larger than a year ago. The ICO market reached $20 billion and continues to attract millions of dollars (last year we invested around $6 billion). According to the world economic forum, by 2027 on technology related bloccano, will account for $10 trillion. or 10% of $100 trillion. gross world product.

Artificial intelligence will eventually free people from routine tasks for more productive activities. AI already simplifies our lives by providing quick answers and completing simple tasks. According to forecasts by McKinsey, the AI by the year 2025 will generate $3.5 to 5.8 trillion. in the year deauty business areas in 19 industries.

Here’s a great quote “the father of IoT,” Kevin Ashton, which perfectly describes the concept of the Internet of things:

If we had computers that know everything there is to know about things, using data they gathered without any of our help, we could track and count everything, and greatly reducing losses, damages and costs. We know when you need to replace, repair or recall things. We must give computers the means of collecting information, that they can see, hear and feel the world in all its unpredictability. RFID and sensor technology enable computers to observe, identify, and understand the world without restrictions in the form entered by the user.

Every day we get closer to the dream Ashton. The number of IoT devices is constantly growing with the release of new cars, watches, clothes and everything that connects to the Internet. According to Statista, by the year 2025 the world will be more than 70 billion IoT devices.

We see growth in the number of IoT solutions from large companies such as IBM, Microsoft, Intel, Oracle. As a result, this market is experiencing high growth and attracts investment. Today, it comes almost $100 billion a year, and the annual income of IoT companies by 2020, according to some projections, will exceed $450 billion.

According to a report by McKinsey, by 2025 the interconnectedness of physical and digital world will be able to produce of $11.1 trillion. This is a huge number in comparison with $100 trillion. gross world product. Moreover, according to report from Business Insiders Intelligence, by 2025, the IoT market could be about $15 trillion. investment.

According to the materials of Altcoin Magazine

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