More than eight billion Internet of Things devices by end of 2017

Gaining traction: Connected things will be an increasingly common part of everyday life.

According to market research company Gartner, close to 8.4 billion connected “things” will be installed worldwide by the end of 2017 (+31% in one year). Some 63% of these devices will be used by consumers, with the remainder deployed by businesses. Between now and 2020, the global number of Internet of Things (IoT) devices could reach 20.4 billion.

The number of connected devices is set to grow at an average rate of 35% until 2020. Little by little, connected things with the capacity to detect, interpret, communicate and negotiate with users will become part of daily life.

Often thought of as gadgets, connected things are more and more common, notably in homes, which are increasingly equipped with intelligent electricity meters, smart lighting, heating, ventilation and air conditioning systems, and automobiles, where smart information and entertainment systems are becoming the norm.

Growth in the Internet of Things (IoT) market is driven by China, North America and Western Europe, which account for two thirds of currently installed connected things. Hardware spending on these devices is expected to reach US$1.7tril (RM7.55tril)  in 2017. By 2020, this figure could be as much as US$2.9tril (RM12.88tril) . —  AFP Relaxnews