40 billion installed base!
The Internet of Things (or IoT) is a concept in which wireless devices connect to each other through the Internet. These devices include connected home devices such as air conditioners, washers, and refrigerators, security systems such as alarms and cameras, and energy devices such as thermostats. This market also includes connected devices used in automotive and healthcare sectors. The IoT market has huge growth potential. According to a report from ABI Research and as the chart below shows, the installed base of active wireless connected devices is expected to increase from 16 billion in 2014 to more than 40 billion in 2020. By comparison, Gartner predicts that the installed base of smartphones, tablets, and PCs combined will reach only about 7 billion by 2020.