Some Worth Knowing Facts About IoT

Some Worth Knowing Facts About IoT Infographic

IoT or Internet of Things is one of the most influential technologies of the present century. IoT can be defined as an ecosystem of interconnected devices or gadgets embedded with electronics, which are capable of receiving, collecting, and transferring data over a network without any command from outside. IoT transforms everyday devices into intelligent devices. It has revolutionized the way we live.

Here are some worth knowing facts about IoT that will enhance your knowledge about this technology:

  • Morgan Stanley via BI Intelligence estimates that we will be surrounded by more than 75 billion IoT devices by the end of 2020, i.e., 7 devices per person.
  • GE claimed that investments in the industrial IoT (IIoT) devices would hit $60 trillion in the next 15 years.
  • As per CSS Insight, the wearable market, which includes devices such as fitness trackers, smartwatches, etc., could grow to $25 billion by 2019.
  • About 94% of businesses who adopted IoT in some way have registered a good ROI.
  • As per an estimate, by 2020, at least 250 million vehicles worldwide will be IoT enabled for better in-vehicle services and automated driving.
  • Connected or smart homes that make use of IoT technology will become very common. The worldwide smart home market is expected to reach $490b by the end of 2019.
  • As per industry experts, the advances in the IoT field will give rise to tens of thousands of job opportunities in the IoT field in the coming years.
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