Where is IoT today in US and Canada?

This is the current landscape for IoT interaction in the North America region.

In a nearby future, the Internet of Things (IoT) will interact with the physical world and revolutionize the way customers interact with their businesses, governments and institutions.

And although there is still a vast contrast within the beliefs regarding what changes automation and surging technologies can bring to the workplace, this is how the stage is set in the North America market, where the arrival of an analytic revolution is imminent.

According to a research report from BI Intelligence, companies in North America aim to spend almost $5 trillion dollars on the Internet of Things (IoT) disruption in the next five years.

This because the exclusive, in-depth report projects a total of 22.5 billion IoT devices in 2021, up 6.6 billion just from 2016.

IoT in the U.S.

A July 2017 study index from Forbes states the United States accounts for 2,888 businesses building the Internet of Things (IoT) landscape, generating up to $125 billion dollars in funding while employing over 300,000 workers.

95 of those companies or startups valued in one billion dollars.

Just in the state of California, more than 1,300 businesses provide IoT solutions.

The Canadian landscape

According to an IDC Canada forecast, the IoT market in the region will be worth more than $6.5 billion dollars, as it will see a significant vertical-focused growth.

As of spending, IT World Canada reports the amount is expected to grow $6.5 billion dollars by 2018, holding a compounded annual growth rate of 18 % after the IoT market took off in 2015.

Following the future of emerging technologies, Canada sees its power investments going into security and privacy matters.

An inevitable future of developments impacting your company

In the exploding world of the Internet of Things, there is a ton to keep up with and an overwhelming amount of research to be done, seeming nearly impossible to stay on top of the continuous technologies emerging.

A fast-growing market is emerging, one that companies and industries must not ignore, as processes, solutions and the way business is done will change as we know it, so, in short terms, it’s about embracing change or really accepting defeat.