The IoT industry is growing rapidly, transforming how companies and consumers go about their days around the world. It is estimated that the IoT industry will continue to grow by 28 percent every year until 2020, with more than 21 billion IoT devices connected by 2020. At Develco Products, we are experiencing the fast-paced growth and global demand for wireless IoT products first-hand.
According to Karsten Ries, CEO of Develco Products, the adoption of IoT products happens fast and across the world, which shows how great the potential of the IoT really is:
“Today, the IoT is utilized in many different ways and is no longer bound to certain industries. As the technology continues to advance and more devices become connected, the usage becomes more diverse. This leaves an enormous market potential and opens a bright future for the IoT.”
According to the latest industry forecasts, predictions say that the IoT industry continues to grow by 28 percent every year until 2020, leaving up to more than 21 billion devices connected in 2020. The predictions indicate that the global market for wireless intelligent products is maturing quickly, and that both businesses and end-users see the potential in the wireless technology.
“Today, the possibilities of the IoT are almost limitless. We can monitor our homes remotely through sensors in our home automation system in order to keep them safe and secure. We can become more energy efficient by analyzing consumption patterns through data from electricity meters. Businesses can increase efficiency by large margins in numerous ways by utilizing the wireless technology and the collected data,” he explains.
“We provide businesses with a complete hardware platform, including a wide range of white label products. With our white label products, solution providers can add products directly to their own brand. They can bring their complete solution to the market fast and easy.”