Industrial IoT Surges

The IoT (Internet of Things) will impact the construction industry in myriad ways—from the way work is done at the jobsite to the very fabric of how structures are built. And the market is predicted to grow substantially.

According to forecasts from ABI Research, the industrial IoT market will add more than 13 million new wireline and wireless connections worldwide in 2017 to an installed base exceeding 53 million connections. The promise of this digitalization and more wireless connections will mean facilities can converted to accommodate the technology and contractors can build these more advanced structures.

However, there is a lot to consider. For instance, the costs for data storage and computer processing dropped greatly. Most connections are made using fixed line (DSL, cable modem, Ethernet, and PSTN) deployments. Wireless connections will account for approximately 25% of new Industrial IoT connections in 2017.

The Asia-Pacific region has the largest concentration of new industrial IoT connections with more than five million additional expected in 2017. The global opportunity will continue to grow during the next four years with a forecast of 18 million new Industrial IoT connections annually by 2021.

Posted: 5/17/2017 6:18:45 PM