Internet of Things to See 30 Percent Increase in Connected Devices in 2016, Study Finds
That means people will be adding 5.5 million new objects to the Internet of Things every day. Consumer devices will proliferate most, while the ones for enterprises bring in more money, Gartner said in its annual IoT report.
Companies will shell out $868bn for IoT hardware next year, while consumers will spend $546bn. Spending will rise for both, but the consumer shopping spree is picking up speed faster than enterprise buying. By 2020, consumers will edge out businesses, spending more than $1.5tr annually on IoT.
That figure includes the full hardware cost of cars, which are expected to become some of the most important connected objects in consumers' lives. Other popular consumer IoT products include smart TVs, set-top boxes and home security devices like cameras and motion detectors. Toys are also entering the connected world now.