Security News > 2020 > November > Global number of industrial IoT connections to reach 36.8 billion by 2025

The global number of industrial IoT connections will increase from 17.7 billion in 2020 to 36.8 billion in 2025, representing an overall growth rate of 107%, Juniper Research found.

The research identified smart manufacturing as a key growth sector of the industrial IoT market over the next five years, accounting for 22 billion connections by 2025.

Software revenue to dominate industrial IoT market value.

The research forecasts that over 80% of global industrial IoT market value will be attributable to software spend by 2025, reaching $216 billion.

Research author Scarlett Woodford noted: "Manufacturers must exercise caution when implementing IoT technology, resisting the temptation to introduce connectivity to all aspects of operations. Instead, manufacturers must focus on the collection of data on the most valuable areas to drive efficiency gains."

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