According to report by Gartner, the enterprise and automotive Internet of Things (IoT) market will grow to 5.8 billion endpoints in 2020, with a 21 percent increase from 4.8 billion in 2019. Utilities domain is said to be the forerunner with 1.37 billion endpoints in 2020 with a huge jump from 1.17 billion endpoints in 2019. "Electricity smart metering, both residential and commercial will boost the adoption of IoT among utilities," said Peter Middleton, Senior Research Director at Gartner. "Physical security, where building intruder detection and indoor surveillance use cases will drive volume, will be the second largest user of IoT endpoints in 2020," he added.       

As per the current trends in automotive sector, vehicles that are embedded with IoT connectivity will be augmented by several add-on devices for specific purposes like fleet management amounting to a rise of about 31 percent in 2020. In the healthcare, chronic disease monitoring will drive the adoption of IoT with rise of over 29 % when compared to the previous year.

North America to Ride the Tide of IoT

Consumer connected cars and networkable printing & photocopying will be the two use cases that will produce the most endpoint electronics revenue in 2020 which is about $72 billion and $38 billion, respectively. The overall revenue from endpoint electronics globally in 2020 will be $389 billion with 75 percent of the total revenue from the regions of North America, Greater China and Western Europe. As per the report, North America is expected to witness highest IoT endpoint adoption which will represent 8% of total IoT adoptions in building intruder detection. "Overall, end users will need to prepare to address an environment where the business units will increasingly buy IoT-enabled assets without policies for support, data ownership or integration into existing business applications," said Alfonso Velosa, Research Vice President at Gartner. “Product managers will need to deliver but also to clearly and loudly communicate their IoT-based business value to specific verticals and their business processes, if they are to succeed in this crowded arena,” concluded Mr. Velosa.