The IoT is in the midst of development and the industry is expected to continue growing over the next decade, in fact it is estimated that it will grow to over $2.4 billion by 2027, according to a study by Business Insider Intelligence.
These statistics correspond to those reported in other studies, which associated the IoT with different technologies, such as 5G networks that will increase revenue to $8 billion by 2025 or smart devices in homes that will reach $75 billion by 2025.
The Business Insider Intelligence report predicts that in 2027 the number of connected objects will reach 41,000 million, which is more than 4 times the number of connected devices in 2019.
The devices that are expected to increase the most are smart speakers, but the implementation of 5G will lead to the development of new tools and utilities.
5G has led to the launching of a number of projects, encouraging companies to update and improve their planning in the shortest possible time. In this regard, edge computing will be an essential tool in reducing latency and costs, thereby favouring data transmission.
Two other technologies will be fundamental for all the connected systems: artificial intelligence and machine learning, which will contribute to the optimized collection and use of information by companies.
At Air Institute we strive to facilitate and participate in the development of projects that will promote the implementation of these technologies in connected devices and their use by both companies and ordinary citizens.