According to the report released by fortune business insights, the market scale of Internet of things in 2019 will be US $250.72 billion, and it is expected to reach US $1463.19 billion by 2027, with a compound annual growth rate of 24.9%.
The report points out that a key factor driving the growth of the Internet of animals market is the increasing popularity of intelligent sensors. Intelligent sensors help to measure the external environment, such as light intensity, position, flow, pressure and temperature. In addition, the sensor measures the physical input and converts it into raw data, which is then stored digitally for the analysis process. IOT solutions need continuous data flow from the environment to run in a better way. For example, user activity data is provided by intelligent sensors integrated with connected devices.
The report predicts that novel coronavirus pneumonia will have different effects on market growth, and businesses around the world will consider investing a lot of money in digital technology. In the current situation, the integration of artificial intelligence and cloud computing in IOT solutions is expected to promote the growth of the market.
In 2019, due to the rapid adoption of the Internet of things in developing countries, the Asia Pacific region has realized a revenue of US $98.86 billion; North America, with the largest number of Companies in the United States, will remain second in the next few years. On the other hand, European countries are focusing on enhancing small and medium-sized enterprises by deploying various digital solutions. The UK and Germany are expected to generate the most revenue. These countries are investing heavily in the implementation of the latest technologies to improve the progress of all walks of life.
With the continuous advancement of a new round of scientific and technological revolution, the Internet of things from the laboratory to real life. At the same time, the continuous maturity of 5g, artificial intelligence, big data and other technologies will further push the Internet of animals to usher in an opportunity period of large-scale development, so as to drive industrial transformation and upgrading and inject new momentum into economic development.
Editor in charge: PJ