According to Internet of Things analytics, the global number of IoT devices is expected to reach 18.8 billion by 2024, registering a 13 percent year-on-year increase. By 2030, this number is projected to grow to 41 billion. As a critical component of the infrastructure enabling the digital, networked, and intelligent transformation of economies and societies, IoT is of significant importance for driving economic growth. McKinsey estimates that by 2030, IoT technologies could contribute $12.6 trillion to the global economy. IoT is clearly going to reshape traditional industries, drive innovation in business models, and advance sustainable, green development. That apart, a new perspective has emerged: IoT can play a crucial role in expanding the supply of high-quality data factors.
