Enterprises Will Pay For 76% of IoT Device Revenue in 2023

IoT Device Shipments to reach 2.5 billion in 2023

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Aug 30, 2018, 08:45 ET

CAMPBELL, Calif., Aug. 30, 2018 /PRNewswire/ -- This week, the analysts at Mobile Experts released the Big Picture of IoT report for 2018. The report demonstrates how the IoT market will achieve very healthy growth over the next five years—but nothing like the industry's rabble rousers claim. To be clear, this report illustrates how the installed base of "Connected Devices" (including RFID) will reach more than 16 billion by 2023, but the installed base of "IoT Devices" will be 8.6 billion in 2023.

This report is a strategic roadmap to the IoT market, and clearly defines the prospects of its growth over the next few years. It is a zoomed-out perspective of mega-trends in wireless technology, computing architecture, business models, and data analytics. Mobile Experts tackles the entire market for Connected Devices as well as more narrowly defined IoT Devices—all without the hype.

"New technology has emerged that allows new IoT applications to grow," commented Principal Analyst Joe Madden. "Device networking has become a lot more practical, and hybrid computing applications are coming to market which provide real value for enterprises. On the other hand, the concept of shared IoT networks serving multiple applications has not taken off as quickly as some thought, and certain vertical markets have remained separate despite possible technology synergy. We see the IoT market growing at a CAGR of 28% over the next five years—that's good growth, but not enough to revolutionize the wireless industry."

According to the Mobile Experts report, the number of IoT devices will grow from 700 million to 2.5 billion in 2023 due to strong growth in a few different market areas. The report details how the diversity in the market makes IoT less lumpy than other wireless markets. The report explains that as the IoT market is growing, other connected devices will also grow.

"Mobile operators will support an installed base of about 1 billion devices by 2023, with $140 billion or more in service revenues worldwide. This is a success scenario, growing from 0.3% of the total mobile market today to almost 10%. The IoT market is growing—but people should think about it as an incremental revenue opportunity, not a revolutionary market," commented Principal Analyst Joe Madden.

Subscribers to Mobile Experts research will receive:

Full access to the 43-page IoT: The Big Picture 2018;
25 detailed charts and figures;
The detailed Excel file with forecast data through 2023;
Quarterly market share, pricing and shipment updates;
Quarterly Expert INSIGHT strategic reports;
Access to the analysts behind the reports.

To find out more about this report, click here. To find out how to subscribe, click here.

About Mobile Experts Inc.:
Mobile Experts provides insightful market analysis for the mobile infrastructure and mobile handset markets. Our analysts are true Experts, who remain focused on topics where each analyst has 20 years of experience or more. Research topics center on technology introduction for radio frequency (RF) and communications innovation. Recent publications focus on Big Picture IoT, RRH, LPWA, RFFE, Cellular IoT, 5G Broadband, Fixed Wireless, Edge Computing, Macro Base Stations, Enterprise Mobile Infrastructure, Smart Cities, CBRS, GkM, Backhaul, DAS, CRAN/VRAN, Small Cells,Backhaul and Fronthaul, and more.