The Internet of Things (IoT) is on a fast-moving train showing no sign of slowing down. The growth of IoT has an impact on every industry and almost all market areas from the beginning stage right up to the consumption of final goods. This impact will increase global data transmissions from 25% to 50% annually in the next 15 years.
Based on this information it is no surprise to hear that China is shifting focus from semiconductors to IoT and smart devices. The ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, is also making the Internet of Things a focal point. His ‘Smart Dubai Plan 2021’ seeks to build the world’s most advanced IoT ecosystem. This strategy aims to protect Dubai’s digital wealth and achieve a completely paperless government over the next 36 months.
Many other global players in technology are boosting their own initiatives to invest in IoT too. Dell, Alibaba, Samsung, and Toshiba, are just to name a few.
The strength of IoT will change our world. And while we have already begun to see the incredible impact that it has made thus far, there is much more to come.
Before we know it every single device and object around us will be connected to the internet. They will be able to communicate with us and with each other. Whether it will be through your smartphone, wearable technologies or everyday households, like, your fridge or your toaster, IoT will connect us in ways we’ve only imagined.
There will be more than 24 billion IoT devices on planet Earth in the next 3 years. Devices used in businesses will grow to 11.2 billion. And devices used in governments will be 7.7 billion while consumer devices will be 5 billion. That’s equivalent to 4 devices per person in the world.
(Reference: Business Insider)
As the presence of the Internet of Things in our lives becomes stronger, its effect on everything we see, touch and experience will become exponential.