There are plenty of studies and researches looking into IoT – which is believed to be the future that awaits us – and the Internet of Things is expanding at a steady pace, it would seem. As a matter of fact, simply watching the world change with every CES or other technological change in common items we use is the best idea you can use to be able to witness how things are changing.
The Internet of Things is occasionally referred to as being the next Industrial Revolution because as it develops in our society, it changes the way a huge amount of things work. And with these changes come new opportunities, of course. However, not every business out there is looking in this direction, and chances are that while it can still work to run a business that doesn’t implement IoT solutions for now, in a few years from now, things will be very different.
The Internet of Things: Examining how the IoT Will Affect the World is a study that had managed to make some estimates regarding how things will be in a few years from now. The study estimates that the IoT devices connected to the internet will triple by 2020, reaching a total number of 34 billion. Out of that number, only 10 billion will consist of traditional devices such as smartphones, tablets and so on.
Another point made by the study is the fact that governments will be the second-largest adopters of IoT solutions after businesses, with the consumer sector lagging behind the most. And that is the case even when we think about how in years from now on we will have heavily connected devices that allow us to control our surroundings and appliances from a single control hub. About how we will start requiring to do things in person a lot less than we do these days.
While studies estimate that the machine to machine and IoT ecosystem market will grow exponentially by 2020 (estimated somewhere at $250 billion), there currently is a noticeable trend in businesses. To be more specific, it would appear that at the current time, executives who are actively adopting it are very few in number. The study suggests that the reason behind it is a reluctance towards IoT security. In a world where everything is connected, breaching into one piece of the puzzle is rather easy.
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