In 2015, there were an estimated 2.6 billion smartphone subscriptions worldwide. It is estimated that by 2020 this number will potentially swell to 6.1 billion. According to Cisco, the total number of connected devices expected to be in place by 2020 will number 50 billion. That is six pieces of connected hardware for every human being on Planet Earth. McKinsey estimate that the industry will be worth $11 trillion by 2025. This is huge for Oil investing.
Twenty years ago it would have been pure science fiction to imagine that such a large percentage of the developed world could access the internet from a pocket-size computer. Today, the mobile revolution and the much evangelised “Internet of Things” (IoT) has taken citizens and businesses to the next stage of real-time device/machine connectivity, data access and decision processing.