Internet of Things (IoT): Macroeconomic Trends
A new wave of digital transformation in the post-Covid world is expected to fuel the growth of the IoT market. Companies and organizations that initiate early adoption of IoT are more likely to recover quickly from the impact of the pandemic.
Listed below are the key macroeconomic trends impacting the IoT theme, as identified by GlobalData.
The Covid-19 pandemic has forced businesses to invest more in technology. IoT technology, in particular, helped with tasks that required social distancing, remote working, or contact tracing. In a post-Covid world, many organizations consider digitalization as their top priority, and they see IoT as one of the enablers. Remote asset access and business process automation will be prominent features in the office and factory of the future. The demand for new IoT applications will be driven in 2021 by telemedicine, smart offices, remote asset monitoring, and location tracking services.
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