Points about Trends, Predictions & Growth of Internet of Things (IoT)

Internet of Things (IoT) is hot growing topic for discussion now a days. Not just same is discussed inside the workplaces; but also everywhere and with everything which are connected to the internet and used in our daily essentials. Internet of Everything (IoE) is including most of devices or objects rapidly like smart watches, Fitbit, embedded electronics, sensors and sensors.

All such devices can collect and transmit the data via Internet and hence contribute to Big Data world. The IoT sector is vastly growing and recognizing in all top most organizations. Let’s consider these points listed below to point out their impact on our lifestyle and business:

1.     Although most of people around 87% have not heard the term Internet of Things. However, the first IoT object you may be aware are ATMs which were connected to the online world in 1974.

2.     Already in 2008, a number of objects are connected to the Internet and it is predicted that by end of 2020 IoT objects will crossed over 50 billion.

3.     The most popular IoT objects are smart phones which have unexpected increase in count of users. According to a popular magazine Forbes, smart phone users in 2015 were 1.4billion and by end of 2020 it will be 6.1 billion.

4.     Soon IoT will be connecting our daily used household items such as from LEDs to refrigerators.

5.     It is also predicted that by end of 2020, automated driving feature will be launched and hence billions of vehicle will be connected to the internet. This also helps to provide new possibilities of in – vehicle service. Even now we also have self driving car from Google which gives the average of 10000 autonomous per week.

6.     Also by 2020, internet connected clothes will also be in market.

7.     Machine to Machine connections will also be increasing rapidly.

8.     IoT will also be applied on kitchen. Connected kitchen helps to save the food and beverages.

9.     Radio Frequency Identification (RFID) tags are most frequently used to identify, track and transmit data over Internet. Currently, their market is $11.1 billion and predication for that is to rise up to $21.9 billion in2020.

10. Predictions and growth of Global GDP will rise from $10 to $15 trillion in next 20 years.

11. Economic impact is predicted as $11 trillion by 2025.

12. According to Cisco IoT will generate $4.6 trillion for public sector $14.4 trillion for private sector

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