Number of IoT devices set to nearly triple by 2020

Number of IoT devices set to nearly triple by 2020

The number of devices being connected to the internet of things (IoT) is set to reach 38.5 billion by the year 2020, new research has suggested.

A study by Juniper Research found the number of IoT devices will rise from its current level of 13.4 billion by 285 per cent.

While much has been made of how IoT can help to enhance lives in the home, it is industrial applications that are set to be the main driver in the trend's growth.

According to the research, while the number of connected devices has already grown substantially over in recent years, the prioritising of connecting systems is still strong for many companies.

Research author Steffen Sorrell said that IoT was still in its early days, claiming there were still a number of hurdles that businesses needed to overcome in order to make the most out of their system.

He said: "Knowing what information to gather, and how to integrate that into back office systems remains a huge challenge."

Other obstacles cited by the report include a conflict of standards, although bodies and alliances are, the study claims, looking at engaging more with each other in an attempt to overcome these problems.

The study defines IoT as the combination of devices and software systems connected via the internet and capable of producing, receiving and analysing data.

It adds that the use of IoT could help to benefit a host of businesses across the industrial sector, offering a higher return on investment (ROI), with a number of corporate process becoming more efficient.