We all know that the future of the web is, as Microsoft’s CEO Satya Nadella says, ‘anywhere, anytime’. One of the big concept ideas helping to realise this is the Internet of Things (IoT). IoT has been dubbed "the next Industrial Revolution" by some people because of the way it will change the way people live, work, entertain, and travel, as well as how governments and businesses interact with the world.
A smart revolutionIt is a way of describing a universe in which objects we interact with in our everyday lives – cars, street lights, watches – interact back with us, the user, as well as with other objects, helping to make the world smarter. If that sounds a little bit far-fetched, it shouldn’t. Plenty of cars can now “see” where they’re going thanks to sensors like cameras and microphones positioned around the vehicle that enable special tracking. What about the fitness tracker on your wrist that tells you how much exercise you’ve done, without you needing to take any invasive tests? We take these things for granted, but they are the start of a smart tech revolution, which is causing the IoT to rapidly grow. So what will the world look like in 2020?
2020 and the IoT
- Investment into the IoT by 2020 will be sizeable, with a predicted 24 billion devices installed, compared to 5 billion in 2015.
- $6 trillion will be invested between now and 2020.
- Sensors will become increasingly low-cost
- Demand for internet services will increase by around 40%
- 5B devices installed by 2020
- $900M spent by 2020
- $400 ROI by 2020
- 7B devices installed by 2020
- $2.1B spent by 2020
- $4.7B ROI by 2020
- 2B devices installed by 2020
- $3B spent by 2020
- $7.6B ROI by 2020