A recent report suggests that despite the ongoing Covid-19 pandemic, the market share for the IoT devices continues to grow. There are more IoT connections than non-IoT connections. The report by IoT analytics talks about the differences in the market share.
Knud Lasse Leute, Founder and CEO of IoT Analytics said, “By 2025, it is expected that there will be more than 30 billion IoT connections, almost 4 IoT devices per person on average. While in 2015, for example, Chinese telecom companies accounted for roughly one quarter (27 per cent) of all cellular IoT connections, this number has shot up to 75 per cent in 2020 with China Telecom, China Unicom, and China Mobile leading the global cellular IoT connections market.”
For the very first time, IoT connections such as connected cars, smart home devices, connected industrial equipment are more than the non-IoT connections such as smartphones, laptops and computers.
There are several factors driving this growth in the global market. The availability of cheap IoT products from China market is among the major reasons behind the increased adoption of products. The report also mentions, “The introduction and subsequent adoption of a new generation of ecosystem-enabled smart home devices such as the Amazon Echo led to faster adoption of connected home devices than previously assumed.”