Subj : Billions of devices will be trading with each other by 2030
To   : All
From : TechnologyDaily
Date : Thu Jun 01 2023 12:30:03

Billions of devices will be trading with each other by 2030

Date:
Thu, 01 Jun 2023 11:20:45 +0000

Description:
Vodafone expects the Economy of Things to explode in popularity by the end of 
the decade.

FULL STORY
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By the end of the decade, some 3.3 billion Internet-connected devices (IoT 
devices) will be trading money and data directly, a new report from 
telecommunications consultants STL Partners claims. 

Thats up from 88 million devices next year, representing a 3750% increase in 
roughly six years, or meteoric growth, as the reports authors put it. 

The practice is being dubbed the Economy of Things (EoT). This subset of IoT, 
the researchers claim, will make up more than 10% of the overall IoT market 
and will experience a compound annual growth rate (CAGR) of 68%. Cars and 
charging stations trading data and money 

While all kinds of internet-connected devices will make up EoT, the majority 
of the data is expected to come from connected vehicles, the report further 
states. 

The logic behind the forecast is that vehicle telematics is relatively mature 
already, and that the data connected by vehicles is valuable for others in 
the ecosystem. Explaining how EoT might work in the automotive industry, the 
researchers state that connected vehicles could communicate and coordinate 
with charging points, parking space sensors, and traffic lights, directly via 
EoT. Read more 

> What is the IoT? Everything you need to know 


 > Rise of the Internet of Things (IoT) 


 > Vodafone uses blockchain to let IoT devices make automated transactions 

Furthermore, STL Partners anticipates more than 1.2 billion EoT-enabled smart 
grid devices by 2030, which is 40% of the total opportunity forecast, as well 
as 700 million supply chain devices. In this segment of the industry, 
AI-powered tools can analyze IoT-generated data to predict surges in demand 
for energy, and sell spare capacity back to the grid. 

Vodafone is among the organizations that anticipate the growth of the EoT 
market, and to that end has built an EoT platform last year called Digital 
Asset Broker. 

Other companies with an eye on the rising EoT sector include banks and 
financial organizations. Mark Williamson, Global Head of FX Partnerships & 
Propositions, HSBC, said there are so many opportunities with the EoT so it 
is important to think about where it will progress fast in its first stages. 
There is a lot of interest and penetration in the motoring and EV worlds, and 
this will be a key starting point. These are the best smart home devices 
right now



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Link to news story:
https://www.techradar.com/news/billions-of-devices-will-be-trading-with-each-o
ther-by-2030


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