The number of connected devices as part of the burgeoning industry known as the Internet of Things is expected to skyrocket 285% over the next five years, reaching 38.5 billion devices by 2020 from just 10 billion today, according to a new report from Juniper Research. The increase is expected to be led by the industrial and public service sectors, such as utilities and smart cities, and less by applications in the smart home, according to the report. A number of companies, including Michelin and John Deere, have already transitioned their businesses toward being service oriented through the use of the Internet of Things, according to Juniper. Other publicly-traded companies, including Google Inc. , IBM and Verizon Communications , have also started to adapt IoT for public-service and industrial applications.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News