In 2020, up to 30 billion devices with unique IP addresses are connected to the Internet.*
The “Internet of Everything” has an economic impact of more than $14 trillion by 2020.**
By 2020, the “Internet of Things” is powered by a trillion sensors.***
In 2019, the “Internet of Things” device market is double the size of the smartphone, PC, tablet, connected car, and the warable market combined.****
As the size and cost of sensors and communication technologies continue to decline, the “Internet of Things” (IoT) grows by leaps and bounds. In 2020, more than 30 billion devices are connected to the Internet. Businesses and governments struggle to integrate this evolving technology, using analytics to winnow insights from the treasure trove of data that improve delivery models in health care, transportation, security and defense, infrastructure management and many other areas. The exponential growth of the IoT proves to be a regulatory headache, forcing governments to keep pace with the ever-changing technology.
The Internet of Things in 2020:
- Privacy takes center stage as multitude of “things” become sources of data; new pay-for-privacy model emerges that protects data and allow consumers control over their data.
- Intervention applications materialize as the advent of smart sensors and advanced analytics enable IoT applications to move beyond just monitoring.
- Standardization of IoT objects, sensors, systems and processes begin as large players in the industrial internet marketplace converge to evolve industry standards.
*“Gartner Says It’s the Beginning of a New Era: The Digital Industrial Economy,” Gartner, http://www.gartner.com/newsroom/id/2602817.
**“Embracing the Internet of Everything to Capture your share of $14.4 trillion,” Cisco, http://www.cisco.com/web/about/ac79/docs/innov/IoE_Economy.pdf.
***”With a Trillion Sensors, the Internet of Things Would Be the “Biggest Business in the History of Electronics”,” Motherboard, http://motherboard.vice.com/blog/the-internet-of-things-could-be-the-biggest-business-in-the-history-of-electronics.
****”The ‘Internet of Things’ Will Be The World’s Most Massive Device Market And Save Companies Billions Of Dollars”, Business Insider, http://www.businessinsider.in/The-Internet-of-Things-Will-Be-The-Worlds-Most-Massive-Device-Market-And-Save-Companies-Billions-Of-Dollars/articleshow/44766662.cms