Bold views on IoT
The Internet of Things will be the largest device market in the world. We estimate that by 2019 it will be more than double the size of the smartphone, PC, tablet, connected car, and the wearable market combined. The IoT will result in $1.7 trillion in value added to the global economy in 2019. Device shipments will reach 6.7 billion in 2019 for a five-year CAGR of 61%. Revenue from hardware sales will be only $50 billion or 8% of the total revenue from IoT-specific efforts, as software makers and infrastructure companies will earn the lion's share. The enterprise sector will lead the IoT, accounting for 46% of device shipments this year. By 2019, government will be the leading sector for IoT device shipments. The main benefit of growth in the IoT will be increased efficiency and lower costs.