The Internet of Things is mostly a hype bubble, with real-world spending and deployments being just a fraction of their predicted level, according to a report by analysts IDTechEx.

While spending on IoT runs to “billions yearly”, the cost of buying and installing actual IoT networks “is much more modest, contrary to heroic forecasts made by most analysts and manufacturers in the past”, say the report’s authors.

Pouring undisguised scorn on the infamous “50 billion IoT devices by 2020” claim originally made by Ericsson CEO Hans Vestberg back in 2010, the Internet of Things 2017-2027 report predicts the IoT as a whole (including software and system integration efforts) will be worth $322bn by 2027, exploding from $1bn next year to $73bn by 2018.

The number of devices will, they say, barely break one billion by 2020.

Read more: Yeah, that ’50bn IoT devices by 2020′ claim is a load of dog toffee • The Register

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Published by Mike Rawson

Mike Rawson has recently re-awoken a long-standing interest in robots and our automated future. He lives in London with a single android - a temperamental vacuum cleaner - but is looking forward to getting more cyborgs soon.

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Yeah, that ’50bn IoT devices by 2020′ claim is a load of d…

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