A trillion dollar market for a single crypto sounds outlandish, right? Well, just think about this for a moment, had someone told you in the 1990s that companies like Apple and Amazon would be worth trillions in a just over a decade, would you have believed it? Most likely not. If anything oil anyone would have thought that oil companies or some other major companies at the time would reach the $1 trillion mark first. In the 1990s, Amazon was just a startup and could easily have been dismissed as just another tech startup, while Apple was going through turmoil at the time. But look at them today, they are the world’s first trillion dollar companies!
Now back to crypto, IOTA (MIOTA) is not worth much today, just like the Amazons of the 1990s. But what about the future? What are the prospects of the target market? IOTA is focused on the IoT market, and IoT is slowly emerging as the tech revolution that will touch on all aspects of life. Research by credible companies like McKinsey put the potential of the IoT market to over $11 trillion. Different reports by companies like IDC show that by the year 2020, over 20 billion devices will be connected to the internet.
Looking at how fast things are moving, these projects may not be far off. Most countries today are laying down the infrastructure for 5G networks, the networks that will make IoT possible at scale. As the infrastructure takes shape the number of device interconnectivity will also increase. We are headed into a world where most devices will be smart and can handle different functions on their own. Already smart T.Vs that can mine cryptos and use them to pay their own electricity bills are in the market. Such devices are just the beginning of the push of IoT in the consumer market. With such moves, this market will be worth at least $5 trillion in the 2020s.
The best part about IOTA (MIOTA) is that it has a head start in this market. As such, it does have a good chance to grab the lion’s share of this market. More players will come into the picture, but if IOTA (MIOTA) were to just capture 10% of this market, then a valuation of $1 trillion will be within reach.
However, this is likely to happen in the long-run. Just like the Amazons of the 1990s, only investors who can comprehend the scope of this market will benefit. In the future, IOTA (MIOTA) could be the crypto that runs every device in your life, from the car you use, to the television in your living room. This is one of the few cryptos whose vision and target market is clear and easy to understand.