With the growing understanding of how the internet can support both the Private Sector via Smart Housing systems and the Industrial Sector with introduction of the Fourth Industrial Revolution or Industry 4.0, the market for IoT devices or Internet of Things was created.
In 2015 it is estimated there was 3.6 billion connected IoT devices which is expected to increase to 14.4 billion by the end of 2022, or an increase of 300%. The increase in the numbers of connected IoT devices is expected to continue, expected reach 27 billion in 2027, or an increase of 87.5% from 2022.
For more on this development in the market of IoT devices and what is effecting it, you can go to the article by Mohammad Hasan for the publication IoT Analytics in the following link; https://iot-analytics.com/number-connected-iot-devices/
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