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 Frost & Sullivan’s 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.
Frost & Sullivan formed these predictions 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:
1. Security & surveillance will lead the IoT market
2. Industrial IoT will become a hot topic
3. IoT will improve customer experience
4. IoT will play a major role in the metaverse
5. 5G and immersive technologies will boost market opportunities
6. Technology integration will drive LPWAN market growth
7. ESG will become a priority in the CEO agenda
8. MEC will be at the forefront of innovation
9. IoT providers should be ready for the new wave of digital payments
10. Industry collaboration will be critical for digital twins’ market growth
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