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The predictions about IoT market made during its peak of inflated expectations phase about 10 years ago were quite optimistic and forecasted 50 billion devices in 2020 and total worldwide market revenues of around 1,8 trillion USD. However, based on predictions from 2020 and 2021, the current IoT landscape in 2023 connects around 15 billion devices, while the worldwide market revenues are around 290 billion USD. In this blog, we try to ascertain why these expectations remained unfulfilled and what are the current prospects for IoT.

Providing customers, the ability to use and integrate any device which supports one or more of the many standardised device management and monitoring protocols is in Axiros’ DNA. The most utilised standard by our customers is still TR-069, but with the introduction of its successor USP, we’re seeing a major shift in aspects of the lower layers of communication in comparison to TR-069. The analysis of the actual device capabilities and the representation in the data they provide, is a process we call Interoperability Benchmarking. To learn more, check out our blog post.