We’ve talked a lot lately about the Internet of Things and its potential to disrupt retail and other industries in a very significant way in the next 12 months, and the infographic below does a great job of breaking down its development.
As Michael Vax noted, at its core the Internet of Things combines a smart device with a cloud service. Already, 10 billion devices are connected to the web, and by 2015, the IoT will boast 25 billion internet-connected devices.
Some interesting data points:
- By 2020, the global IoT market is predicted to reach $8.9 billion.
- In that same year, there will be more than 200 billion connected devices.
- In a worldwide survey of 800 business leaders, 96 percent said they will be using the IoT “in some way” in the next three years.
- 68 percent of business leaders surveyed say they are already allocating budget to IoT
- 17 percent are already using IoT externally.
- IoT devices also open users up to cyber attacks, making security a top priority in the development of this market.
Source: BestComputerScienceDegrees.com
