Executive insights from 1NCE CSO Alexander Bufalino At the dawn of the Internet of Things, it was routinely projected that IoT would be a market of billions of devices. In fact, most predicted there would be tens of billions of connections live by the dawn of next decade. Back in 2011, Ericsson’s then-CEO Hans Vestberg estimated that there would be 50 billion connected devices by 2020. Now, it seems the prophets were over-enthusiastic and projections will not be hit in the timescales suggested. Ericsson itself now projects there will be 1.5 billion IoT devices with cellular connections by 2022.