IOTA also has a lot of updates in the pipeline, which could improve its usability. IOTA has gained a lot of partnerships including Dell Technologies, Jaguar Land Rover, TradeMark East Africa, Zebra, and Ensuresec.
One thing that will drive the use of these IoT coins, like MIOTA and IOTEX, will be growth in the IoT space. According to Mordor Intelligence, the global IoT market is expected to reach $1,386 billion by 2026 from $761.4 billion in 2020. According to Juniper Research, the number of IoT devices is expected to exceed 50 billion by 2022. The vast number of internet-connected devices will need secure methods of communication and automation. This is where networks that help solve issues like scalability, high costs, and lack of privacy come into play. IOTA has an early mover advantage in this space with a lot of established partnerships. It’s expected to benefit from this trend going forward.
Most of the forecasts for MIOTA token are bullish. While WalletInvestor sees gains of just 8 percent for the token in one year, Long Forecast sees a rise of 52 percent by year-end. Digital Coin Price also sees MIOTA rising by more than 50 percent by the end of 2021.