The projected global revenue for smart city technologies, products, and services was forecasted to reach 129 billion USD in 2021. The worldwide spending on IoT by 2023 is estimated to be 1.1 trillion USD. It is predicted to reach around 2.5 trillion USD by 2025. This number is only going to increase in the upcoming years.
Along with this, connected cars are projected to become the largest segment of the global 5G IoT endpoint market. This too with an installed base market share of 39% by 2023 the equivalent to 19 million endpoints. The overall 5G IoT endpoint installed base is forecast to grow from 3.5 million in 2020 to around 49 million in 2023 worldwide. Moreover, it is predicted that by 2025 152,200 IoT devices will get connected per minute to the internet. The potential of the IoT solution is around 4-11 trillion USD in economic worth by 2025.
As there is a rise in the need for a smart lifestyle and work operations, the technology industry brings forth something that will make the world more accessible at the click of a button. IoT has proven to be a boon here. It has revolutionized the way we work, operate, or even stay put. Understanding the intensity of this need, Ajackus has defined the path which can help organizations with the power of IoT across industries.
While you consider IoT to change your business or products for the better, it is already moving steps ahead in automating our future. At Ajackus, we pledge to bring forth that future to you, before tomorrow comes and enriches you with the edge of this technology in full swing.
Let us automate you into the future with IoT.
We have personally and professionally learned a lot from the entire team. The major deciding factors to proceed with Ajackus were technical knowledge, attitude towards finding the best fit solution, project management processes, and cost-effectiveness. The successful completion of the project has helped us save nearly 40% of our time which was earlier spent on manual processes. I can confidently say that we are not just dealing with a company here but, a group of people that care equally about the success of their client's business. We are proceeding with Ajackus for all the next phases in our technical roadmap.
We are available in 5 cities and also on the world wide web making us reachable to anyone on the planet with an internet connection.