ACCORDING to the Digital Economy Report, Internet of Things (IoT) devices, such as sensors, connected vehicles, consumer electronics, and wearables, will fuel tech ownership growth in the future.

In 2021, IoT devices surpassed conventional devices, like PCs, tablets and smartphones, for the first time, with a total of 9.2 billion connections worldwide. In 2024, the total number of IoT connections is expected to jump over 18.8 billion, which will more than double in the next four years. By 2028, Statista expects close to 40 billion IoT connections worldwide; consumer IoT connections will make up over half of that number.