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The enterprise and automotive Internet of Things (IoT) market is expected to grow to 5,8 billion endpoints in 2020, according to new forecasts from Gartner.
By the end of this year though, 4.8 billion endpoints are expected to be used and that's a 21.5% increase from 2018. Utilities will be the highest user iv endpoints with 1.17 billion endpoints in 2019, but this is expected to grow in 2020 by 17% to 1.37 billion endpoints.
Senior Research Director at Gartner, Peter Middleton explained what factors will drive HCS's wider adoption of IOT endpoints, saying:
“Electricity smart metering, both residential and commercial, will boost IoT adoption among utilities. Physical security, where the building for intrusion detection and indoor surveillance use will drive volume, will become the second largest user of the Internet of Things in 2020 endpoints.”
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Building automation is expected to see the largest growth rate in 2020 (42%) driven by connected lighting devices followed by automotive and healthcare, which are projected to grow by 31% and 29% respectively. Chronic condition monitoring will drive most IoT endpoints in healthcare, while cars with embedded 'Internet of Things' context will do in the automotive industry.
Use to-do area
Year-round smart metering electricity will be the top use case for Greater China and Western Europe in 2020 and will represent 26 percent and 12 percent of the total multi-point supply, respectively. North America, on the other hand, will see its high IOP endpoint acceptance in building intruder detection with door and window sensors representing eight percent of total IOT endpoints.
The revenue generated from the electronics endpoint will be $389bn worldwide in 2020 and will be concentrated in North America, China and Western Europe. These three regions account for 75 percent of total electronics endpoint revenue and North America is a record $120bn, China will reach $91bn and Western Europe will be $82bn in 2020.
Connected car consumers and network printing and photocopying are two use cases that will provide the largest electronics sales endpoint in 2020, totaling $72bn and $38bn. in a larger percentage of their output the car is moving forward. Indoor CCTV and other use case, which will enhance the government's public safety endpoints.
Gartner Research Vice President Alfonso Velosa explained how raising IOP endpoints will likely lead to more work for CIOs, said:
“In general, end users will need to prepare to consider an environment in which business units will increasingly buy things with asset support without policies to support ownership of data or integration into existing business applications. This will require a team of CIOs to begin developing a policy and architecture approach to achieve business unit goals while protecting the organization from threats. Managers must deliver, but also clearly and loudly express their IOT based on business value for specific verticals and their business processes if they are to succeed in this crowded arena.”
- That's all you need to know about IOT