Facts about the Internet of Things

  1. IoT has been around us for decades - One of the earliest classic examples of IoT enabled devices is from the early 1970s when our first ATMs (Automated Teller Machines) went online.
  2. Big businesses are already on it - Morgan Stanley via BI Intelligence estimates that we will be surrounded by more than 75 billion IoT devices by 2020 which roughly means 7 devices per person alive at that time.
  3. $60 trillion investment - GE claimed that investments in the industrial IoT (IIoT) devices would hit $60 trillion over the span of next 15 years.
  4. Big businesses are already ahead of the curve - Last year, in a research conducted by Forrester, found that 23% of big global enterprise businesses opted more IoT solutions, compared to just 14% of small and medium-sized businesses.
  5. The dark side of IoT - With the rise in IoT devices, the security breaches are becoming a thing of concern as well. Nearly half of the US businesses reported that their IoT data was compromised. 
  6. The wearables market is growing with worth $25 billion by 2019 - As per CSS Insight, the wearable market could grow to $25 billion by 2019. These wearable devices like fitness trackers, smartwatches are connecting more regular customers to the IoT. The era of Internet-connected clothing is coming, estimates predict that we will see an inward shipment of 10.2 million units by 2020, which was just 140K units in 2013.
  7. A $53 billion smart home market - Smart homes are not a thing of future anymore. People have already started adopting smart home appliances like Nest thermostat, Philips Hue, and other home automation devices. As per a research did by a company named Zion, the smart home automation market could grow to the staggering number of $53 billion by 2022.
  8. Promising positive ROI - Around 94% businesses who adopted IoT in some way have seen a return on their investment.
  9. Smart and automated driving is coming - We are about to experience the internet connected smart cars and automated driving. Gartner says, by 2020, a quarter of a billion vehicles will be connected to the internet for improved in-vehicle services and automated driving.

By the way, Google has already built and continuously testing the autonomous driving 10,000 miles per week.

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