Honeywell (NYSE:HON) is ramping up its software capabilities and coupled with its array of aircraft hardware, the company is in a good position to benefit from the era of “ connected aircraft”.
The B2B market for IoT is poised for growth. Last year, there were 2.4 billion connected devices being used by businesses, and this year there will be 3.1 billion, according to Gartner, the research group. By 2020, it expects that number to have more than doubled to 7.6 billion.
By 2020, companies will spend an additional € 250 billion on IoT (over and above their normal technology spending).
