IoT is an additional layer of information, interaction, transaction and action which is added to the Internet thanks to devices, equipped with data sensing, analysis and communication capabilities, using Internet technologies. The Internet of Things further bridges digital and physical realities and powers information-driven automation and improvements on the level of business, society and people’s lives.
Despite challenges, different speeds and the fast evolutions which we will see until the first years of the next decade, the Internet of Things is here.
In business and industry, there are thousands of Internet of Things use cases and real-life Internet of Things deployments across a variety of sectors with the three industries which we just mentioned accounting for a more than significant part of deployments and investments as the image on the right shows.
In the consumer space there are many thousands of devices and applications for a broad variety of purposes.
Predictions regarding the economic impact, sub segments, technologies and number of IoT-connected devices keep evolving as well.
Even if for most people the number of IoT devices is not a relevant metric, it’s the one that gets most attention. Over the past few years predictions regarding the number of IoT devices has been reviewed downwards.
It has taken over two decades for the ‘concept’ of the Internet of Things to become a reality that is impacting and will impact many areas of business and society as we will see further.
IoT Broad Market Solutions