The market for the Internet of Things (IoT) or connected devices is expanding rapidly, with no manufacturer currently forecast to dominate the supply chain. This has fragmented the emerging IoT ecosystem, triggering questions about interoperability and cybersecurity of IoT devices.
- Firms in manufacturing, transportation and logistics and utilities are expected to see the highest IoT spending in coming years.
- The pace of IoT adoption is inextricably linked to that of related technologies such as 5G, artificial intelligence and cloud computing.
- Data privacy and security will be the greatest constraint to IoT adoption.