IoT connections forecast: the impact of Covid-19
In light of the Covid-19 pandemic, GSMA Intelligence has updated its forecast dataset outlining IoT connections growth for the period 2010-2025.
GSMA Intelligence forecasts that total IoT connections will double between 2019 and 2025, reaching 24 billion. We forecast growth at a slower rate compared to our December 2019 forecast. In the short term, the economic uncertainty could constrain demand and funding for IoT projects. However, every crisis leaves a long-lasting legacy in terms of faster innovation and a new 'normal'. It is reasonable to assume that Covid-19 will lead to faster adoption among companies of IoT, AI/ML and 5G among other technologies to drive digital transformation
To accompany our detailed forecasts in Excel, the report outlines our key assumptions.