Darron Antill, CEO, Device Authority
Thinking about investing in the IoT sector?
It’s easy to see the attraction. According to Gartner, there were 6.4 billion connected devices worldwide in 2016, and this number will reach 20.8 billion by 2020. PwC has forecast that $9 trillion will be spent on IoT solutions between 2015 and 2020, whilst McKinsey has calculated the annual economic impact of the IoT to be $3.9 to $11.1 trillion by 2025. That’s a dynamic space to be part of. Crunchbase data has shown venture capital funding in US-based IoT start-ups going up and up, albeit with a slight drop in the actual number of deals in 2017.
The IoT is, as we know, one of the most dynamic, diverse and potential-filled sectors of the technology industry right now. Little wonder that many investment firms and venture capitalists are key to make inroads into the sector.