Internet of Things (IoT)

Ready or not, the Internet of Things is taking over the world. Every day, more and more objects have some sort of network connection: from coffee makers to security cameras, from air quality sensors to connected cars, there isn’t a single area of our life that won’t be touched by IoT devices in the next decade.

In fact, technology giant Ericsson predicts that in 2018, there will be more IoT gadgets than mobile devices.

This brings us to the fact as to what exactly ‘Internet Of Things’ is?

Internet of Things (IoT) refers to devices or objects that are connected to the Internet, like your smart watch, Fitbit, or even your refrigerator.

These devices are able to collect and transmit data via the Internet, contributing to our big data world.

The ‘Internet of Things’ is HERE and it’s growing rapidly.

To demonstrate how fast this sector is growing and what an impact it will have on our lives and business, I’ve rounded up 17 of the most mind-boggling IoT numbers and stats that prove that the phenomenon is here and here to stay.

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1. If statistics are to be believed, 87% of the people have not heard of the term ‘Internet of Things’.
2. ATMs are considered some of the first IoT objects, and went online as far back as 1974.
3. Back in 2008, there were already more objects connected to the Internet than people.
4. This year, we will have 4.9 billion connected things.
5. And some predict that by 2020, the number of Internet-connected things will reach or even exceed 50 billion.
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6. In 2015, over 1.4 billion smart phones will be shipped and by 2020 we will have a staggering 6.1 billion smartphone user
7. The IoT will connect many of the devices we have in our homes, from smart thermostats to smart fridges.
8. Google bought smart thermostat maker, Nest Labs, for $3.2 billion, and Samsung purchased connected home company SmartThings for $200 million.
9. By 2020, a quarter of a billion vehicles will be connected to the Internet, giving us completely new possibilities for in-vehicle services and automated driving.

The near future, billions of pieces of equipment will be connected to one another – everything from the yogurt container that reminds you to eat its contents, to the smart city, where data is collected and analyzed in real time so that traffic flows better. The expression “Internet of Things” (IoT) was coined by the British technology pioneer Kevin Ashton in 1999. His definition has not changed since then. So far, says Ashton, the Internet has been almost completely dependent on people for its supply of information. But in the future, things will be able to input data themselves.

Billions of Networked Objects, isn’t it?

No matter whether it’s 28, 32, or 33 billion – as the number of networked devices and sensors increases, they will create an ever-growing, unprecedented flow of data. Large quantities of information will have to be collected, analyzed, and stored.