ABI Sees Consumer IoT as $6.6 Billion Global Market Opportunity by 2023

The global consumer IoT market for mobile services providers (MSPs) will be $6.6 billion by 2023, reported ABI Research Wednesday. “Consumer IoT is a nascent and fragmented market where connectivity is an essential enabler,” it said. “MSPs can play a key role in driving the growth of the consumer IoT market from tracking applications to the connected car.” By launching consumer IoT products with “flexible” business models, MSPs can help generate customer demand, which will attract more OEMs to produce more consumer IoT devices, it said: Tech companies “have been slow to target this nascent market.”