With 41.76 billion active IoT-connected devices expected in 2023, IoT providers must be prepared to address growing demands across new verticals. Collaboration with ecosystem partners will be crucial as businesses enter a challenging and hectic digital phase.
This study presents predictions for the IoT industry in 2023. These predictions are the result of aggregated input from Frost & Sullivan’s Internet of Things research teams from different regions.
These predictions were formed using the results of its 2022 IT decision-maker (ITDM) survey of 2,094 ITDMs across end-user organizations of different sizes and industries based in North America, Europe, Asia, and Latin America.
The following are the top 10 predictions for the IoT landscape in 2023:
- Security & surveillance will lead the IoT market
- Industrial IoT will become a hot topic
- IoT will improve customer experience
- IoT will play a major role in the metaverse
- 5G and immersive technologies will boost market opportunities
- Technology integration will drive LPWAN market growth
- ESG will become a priority in the CEO agenda
- MEC will be at the forefront of innovation
- IoT providers should be ready for the new wave of digital payments
- Industry collaboration will be critical for digital twins’ market growth