7 Important Facts About IoT To Enhance Your Knowledge Infographic
IoT or Internet of Things is a smart technology of the 21st century. IoT is basically an ecosystem of interconnected devices or gadgets embedded with electronics, that are capable of receiving, collecting, and transferring data over a network without any external command. IoT transforms the routine, normal devices into intelligent devices. The majority of people today are using this technology in their daily lives, knowingly or unknowingly.
Here are seven important facts about IoT to enhance your knowledge about this technology:
- Morgan Stanley via BI Intelligence estimated that there will be more than 75 billion active IoT devices by the end of 2020, i.e., 7 devices per person.
- GE has predicted that investments in the industrial IoT (IoT) devices will reach a whopping $60 trillion in the next 15 years.
- As per CSS Insight, the wearable market, which includes devices such as fitness trackers, smartwatches, and so, could become a $25 billion market by 2019.
- Connected or smart homes that use the IoT technology will become quite prevalent. The global smart home market might touch $490 billion by the end of 2019.
- About 94% businesses that used IoT in some way have registered a higher ROI.
- As per an estimate, by 2020, at least 250 million vehicles around the globe will be IoT enabled for better in-vehicle services and automated driving.
- According to the industry experts, the development in the IoT field will generate millions of job opportunities in the IoT field in the years to come.