LoT may affect every point of our life from health to work to travel to entertainment very soon. With its scope of unending possibilities, Gartner and Lucas Blake’s infographic provides an exposure on facts of the evolution of the Internet of Things, IoT industry. The term evolved when the British entrepreneur Kevin Ashton observed that physical devices, system, and service get interconnected via the Internet can create wonderful things for enterprises and gave it as Internet of Things. IoT has become relevant in every Industry though may not be applicable in every application. You may not find purely an IoT application in Industries but there can be applications that leverage IoT in one way or other.
Gartner made a detailed analysis of facts and declared two classes of connected things, cross-industry and vertical specific devices. The technology helps you in building management systems or connecting light bulbs to save money by adopting cross-industry devices or generic devices. Vertical specific devices are found in Industries such as specialized hospital equipment, or container ship tracking devices.
Interesting facts on IoT:
Gartner concludes certain changes to take place in the Internet of Things:
- 8 billion Connected things will be available on the Internet of Things by 2020.
- In 2016, everyday 5.5 million new things are expected to get connected.
- In 2016, IoT create an increase in 22 percent in total service spending and expects to reach $235 billion.
- Consumer applications will have spent in hardware by the end of 2012 will be $546.
- Enterprise will make use of IoT and the expenses can reach up to $868 in 2016.
You can make a better understanding about the subject by looking into the Internet of things.