Internet of Things is growing at a ridiculous rate, as evident in this IoT Statistics compilation. As of 2019 alone, there were about 26 billion IoT devices installed around the world.

The pandemic did wipe off around 8.2% of the 14.9% growth forecast that IDC did around November 2019. In specific terms, that translates to $742 billion 2020 global IoT revenue adjusted for the effects of the pandemic (IDC, 2020). However, IDC estimates that global IoT spending will be back on track for a double-digit growth rate in 2021, to mount a CAGR of 11.3% over the 2020 to 2024 forecast period. Continue reading →