The number of 'things' connected to the internet will almost treble by 2020 to 38.5 billion, according to analyst Juniper Research.
The market watcher also claimed this rise in the number of devices will be largely driven by certain sectors, such as retail, agriculture, smart buildings and small grid applications, as the use of technology increases in these types of businesses.
The number of internet-connected things will rise by 285 per cent between 2015 and 2020, from 13.4 billion to 38.5 billion, Juniper Research said.
However, author of the research, Steffen Sorrell, warned that knowing what information needs to be gathered, and how to build that into back-office systems, is hindering enterprises' goals of connecting systems and devices.
In addition, Juniper said there are currently more than twice as many connected devices as there are humans on the planet.
Rival analyst IDC recently said the "real" opportunity for IoT is in the enterprise and not in the consumer space.
Dell also highlighted its faith in a connected world via a partnership with IoT platform ThingWorx to launch a new division aimed at helping customers realise the value of the technology.
According to Juniper, IoT represents a mix of devices and software connected via the internet that "produce, receive and analyse data", which will be effective only if understood and used properly.
Just being connected will create data, but will not turn that data into useful information until the user gathers and analyses it, the analyst explained, adding that the analytical data delivered by IoT will ensure its long-term success.
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