IoT connections to touch 83 billion by 2024: report

A new study by Juniper Research has found that the total number of connections will touch 83 billion by 2024, up from the present-day 35 billion connections.

This, said the research firm, represents a growth of 130 percent over the next 4 years. The industrial sector will be the key driver of this growth.

The new research, The Internet of Things: Consumer, Industrial & Public Services 2020-2024, found that the industrial sector, including manufacturing, retail and agriculture, would account for over 70 percent of all IoT connections by 2024. It anticipated that the emergence of cost-efficient private cellular networks would be a key driver of growth over the next 4 years.