IoT revenue to grow accelerated by the pandemic

IoT demonstrated an annual rise of 20%

internet of things

IoT revenue to grow accelerated by the pandemic. Source: pixabay.com

According to Juniper Research, IoT platform revenue will exceed $66 billion in 2020, compared to $55 billion in 2019.

The research also suggests that businesses seeking bigger resilience will enable the IoT market to overcome the expected economic disruption over 2020 and beyond.

Besides, IoT platform providers will most likely need to adjust development strategies to capitalize on this growth, otherwise, there’s risk losing market share to competitors. It focuses on solutions that enable the seamless integration of IoT technologies into existing infrastructure as crucial to attracting high-value IoT users.

The study also states that RSP (Remote SIM Provisioning) is a key technology that will ease distribution and implementation disruption during the pandemic.

RSP enables IoT devices to be remotely connected to IoT platforms after deployment. The fact that it minimizes human interactions and reduces the time needed to deploy IoT devices, this approach is beneficial.

It is also expected that the continuing pandemic will drive the adoption of remote monitoring to minimize public interactions.

Telemedicine has consistently failed to meet market expectations. However, when it is used in tandem with connected healthcare devices, it has the potential to transform a significant proportion of physical healthcare interactions into remote interactions; relieving pressure on badly stretched healthcare systems
Sam Barker, research co-author

We’ve reported that the Internet of Things set to double in the Middle East and Africa by 2023.

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