Sales Of IoT Device Will Approach 350 Million Per Year By 2025

According to the expert report, the sales of IoT will touch 350 million per year, by the year 2025. The data flood will be fuelled by 5G as China will continue to provide a healthy supply in the international market.

The shipments of 4G IoT modules will reach a new height within the coming three years. The 5G modules will outstrip the 4G technology by 2023, as the automotive vertical market will be the highest user of the IoT cellular module.

An enhanced internet network is required for the seamless performance of IoT applications. The IoT applications also getting benefits due to low latency period of 5G technology. According to SAS (A U.S based firm) IoT initiatives are increasing due to heavy use of Artificial Intelligence (AI). A study that involved around 450 global business leaders revealed 90% of the participants are using AI enormously with IoT devices. In other words, AI has become an integral part of the IoT operations, and the expected value has exceeded its limit as the approach is more competitive than only using IoT.

The SAS report also highlights that 68% of the companies were found to be relying on IoT data to perform daily operational decisions. Those companies also use spreadsheets and another semi AI technology.

The "multi-family" IoT device is expected to earn a revenue of $35.6 billion (£29bn) by 2028 at a CAGR of 23.8%, as reported by Navigant Research. Another report titled "IoT for Multifamily New Construction and Retrofit Markets" says most of the property managers and builders are becoming more aware of the advantages of smart home technologies. The tech-savvy buyers are also looking for new and updated home technology before making their final purchasing decision.

Some IoT news and reports say, along with the growing IoT technology revenue from communication infrastructure is expected to decrease through the node purchase will continue to increase across the world.