The Internet of Things Market

Introduction

The Internet of Things (IoT) is that brilliant kid who’s grown up but still stuck at home. Will 2017 be the year that IoT finally moves out and gets a job? This report presents the current market for IoT, including top companies and industries adopting IoT, based on a data-driven methodology. Unlike previous work from McKinsey and other analysts, this report presents an approach for measuring the market based on big data rather than models or human-entered surveys. While we cannot predict the future, we believe that the following is the most accurate snapshot of what IoT will look like in 2017.

We found that over 2,000 companies have adopted IoT, and more than 200 companies have made it a strategic direction for their business. Today, spending on IoT is focused on simple use cases such as security, retail, and inventory, while more complex use cases like patient monitoring and traffic monitoring are still in their infancy. Adoption of IoT is steadily increasing and, compared to other trends like big data, is much more widespread in terms of geography, use cases, and industry.

Methodology

This report is a data-driven study of the complete IoT market. It is derived from live data triangulated across the entire business world— websites, meetups, hiring patterns, business relationships, blogs, press, forums, SEC filings… everything—using data crawlers and proprietary natural-language parsing technology developed by Demandbase. We processed ...