17 mind-blowing ‘Internet Of Things’
facts everyone should read
The Internet of Things is here and
it’s growing rapidly. Internet of Things (IoT) or Internet of Everything
(IoE) refers to devices or objects that are connected to the Internet, like
your smartwatch, Fitbit, or even your refrigerator. These devices are able to
collect and transmit data via the Internet, contributing to our big data world.
Smart, connected devices are already
transforming our world and the competitive forces in business. 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.
1.
The majority of people (87%) 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.
6.
In 2015, over 1.4 billion smart phones will be
shipped and by 2020 we will have a staggering 6.1 billion smartphone users.
7.
The IoT will connect many of the
devices we have in our homes, from smart thermostats to smart fridges.
Companies like Google and Samsung understand this. Google bought smart
thermostat maker, Nest Labs, for $3.2 billion, and Samsung purchased
connected home company SmartThings for $200 million.
8.
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.
9.
In fact, we already have cars that
can drive on their own – Google’s self-driving cars currently average about 10,000 autonomous miles per week.
10. The
global market for wearable devices has grown 223% in 2015, with Fitbit shipping 4.4
million devices and Apple selling 3.6 million Apple Watches.
11. And
yes, Internet-connected clothing is coming. Estimates predict that 10.2 million
units of smart clothing will ship by 2020, compared to a meagre 140K units in
2013.
12. Today,
the market for Radio Frequency Identification (RFID) tags, used for
transmitting data to identify and track objects, is worth $11.1 billion. This
is predicted to rise to $21.9 billion in 2020.
13. Machine-to-machine
(M2M) connections will grow from 5 billion at the beginning of this year to 27 billion by 2024, with China taking a 21%
share and the U.S. 20%.
14. GE
believes that the “Industrial Internet” (their term for IoT) will add $10 to $15 trillion to global GDP in
the next 20 years.
15. According
to estimations by the McKinsey Global Institute, the IoT will have a total
economic impact of up to $11 trillion by 2025.
16. Having
a connected kitchen could save the food and beverage industry as much as 15%annually.
17. CISCO
believes the IoT could generate $4.6 trillion over the next ten years
for the public sector, and $14.4 trillion for the private sector.
The IoT is only going to grow. I believe that currently less
than 0.1% of all the devices that could be connected to the Internet, are
connected to the Internet. Just think of the tremendous potential and limitless
opportunities this brings for business and society.
This article was written by Bernard Marr from Forbes and was
legally licensed through the NewsCred publisher network.
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