Just a decade back, we were used to computers being networked but now that time has come when everything gets networked, and this ‘everything includes your cars, watches, TVs, diabetes calculators, treadmills and even pens. Devices like the Apple iWatch or Google’s FitBit are rising in popularity and more people are allowing themselves to be connected to the internet via these devices. The resultant advantages include convenience, safety, security, analytics driven automation, better monitoring and much more.
From the first internet connected toaster that was invented in 1989, we are aiming a stage where small sensors can go into our body and clean us cancer cells. Today, our devices aren’t just steel and plastic boxes that are wired for functionality but elements that can actually interact with us and each other. Air conditioners of today are capable to gauge the required room temperature and operate themselves. They interact with vehicles and prepare themselves before we are home!
The dilemma of security
As the famous dialogue goes “with great powers come great responsibilities”, the logic is the same with IoT when it comes to security. Along with the numerous benefits of IoT, there still some risk lurking behind. Smart devices give more chance to hackers and cyber criminals and it will again be the job of us humans to use the technology responsibly.
In the coming years IoT will be influencing every industry, from marketing to healthcare, from schools to researches. Here are 10 facts that would showcase the growing importance of IoT in our lives.
1. ATMs were the first IoT devices to go online
2. In 2008, we already had more interconnected devices than people in our planet. By 2020, the number of interconnected devices would cross the mark of 50 billion.
3. Last year, we had nearly 1.4 billion smartphones shipped across the globe and this number is expected to cross 6.1 billion by 2020.
4. IoT would connect several devices we have in our homes, ranging from smart refrigerators to smart thermostats. To this end, Google has already purchased Nest Labs, the smart thermostats make for a whopping $3.2 billion and Samsung acquired Smart Things, a connected home device manufacturer for $200 million.
5. By the end of 2020, interconnected vehicles will open up several new possibilities in automated driving and in-vehicle services.
6. In 2015, the worldwide market of wearable increased by 223%, wherein FitBit shipped over 4.4 million devices while Apple sold 3.6 million of its watches.
7. We will also get to wear smart clothing by 2020 and this will certainly be an overwhelming advance.
8. The RFID (Radio Frequency Identification) market is currently worth $11.1 billion and in 4 more years would increase to a $21.9 billion market.
9. By 2024, there would be 27 billion machine to machine connections and China is expected to take a leading share of 21%.
10. Lastly, we also have rumors of interconnected kitchens that would help the food and beverage industry to save as much as 15% of the current waste.
The above data around Internet of Things sounds pretty interesting for anyone, but this is just a small part of the bigger world we are stepping to.