Despite the ongoing Covid-19 pandemic, the market for the Internet of Things continues to grow. In 2020, for the first time, there are more IoT connections (e.g., connected cars, smart home devices, connected industrial equipment) than there are non-IoT connections (smartphones, laptops, and computers). Of the 21.7 billion active connected devices worldwide, 11.7 billion (or 54%) will be IoT device connections at the end of 2020. By 2025, it is expected that there will be more than 30 billion IoT connections, almost 4 IoT devices per person on average.
