The enterprise and automotive Internet of Things (IoT) market will grow to 5.8 billion endpoints in 2020, a 21 per cent increase from 2019, according to a forecast by Gartner, a leading research and advisory company.
By the end of 2019, 4.8 billion endpoints are expected to be in use, up 21.5 per cent from 2018, said a statement.
Utilities will be the highest user of IoT endpoints, totalling 1.17 billion endpoints in 2019, and increasing 17 per cent in 2020 to reach 1.37 billion endpoints.
Peter Middleton, senior research director at Gartner, said: “Electricity smart metering, both residential and commercial will boost the adoption of IoT among utilities.”
“Physical security, where building intruder detection and indoor surveillance use cases will drive volume, will be the second largest user of IoT endpoints in 2020,” he said.
Building automation, driven by connected lighting devices, will be the segment with the largest growth rate in 2020 (42 per cent), followed by automotive and healthcare, which are forecast to grow 31 per cent and 29 per cent in 2020, respectively.
In healthcare, chronic condition monitoring will drive the most IoT endpoints, while in automotive, cars with embedded IoT connectivity will be supplemented by a range of add-on devices to accomplish specific tasks, such as fleet management.
Similar to 2019, residential electricity smart metering, which can be used for more accurate metering and billing in the home, will be the top use case for Greater China and Western Europe in 2020, and will represent 26 per cent and 12 per cent of total IoT endpoints, respectively.
North America, in comparison, will see its highest IoT endpoint adoption in building intruder detection, such as door and window sensors, which will represent 8 per cent of total IoT endpoints.
North America and Greater China Have the Biggest Market for Endpoint Electronics Revenue
In 2020, revenue from endpoint electronics will total $389 billion globally and will be concentrated over three regions: North America, Greater China and Western Europe.
These three regions will represent 75 per cent of the overall endpoint electronics revenue. North America will record $120 billion, Great China will achieve $91 billion and Western Europe will come in third totalling $82 billion in 2020, it stated.
TradeArabia News Service