12 things you didn't know about IoT

The Internet of things (IoT) is most certainly here to stay, changing how we interact as individuals and businesses. Internet of Business looks at 12 things you didn’t know about this technological revolution.

According to this infographic from Business Insider, the installed base of the Internet of Things will surpass the combined PC, tablet and phone market by 2017 with nearly eight billion devices in the world.

  1. According to this infographic from Business Insider, the installed base of the Internet of Things will surpass the combined PC, tablet and phone market by 2017 with nearly eight billion devices in the world.

  2. In 2008 there was just one Internet of Things device to every person on the planet, but by 2020 Cisco expects there to be more than 50 billion objects in a population of over seven billion.

  3. The global IoT market will top $7.1 trillion by 2020, according to IDC

  4. Do we need to worry about there being enough IP addresses for all these devices? No. Thanks to IPv6, there are enough available to give 100 IP addresses to every single atom on the planet.

  5. The largest market for IoT technology will be connected homes. It is expected to reach $490 billion by 2019, according to this BI Intelligence report.

  6. At present, only 0.06 per cent of ‘things’ that could be connected to the internet are. That’s ten billion things out of the 1.5 trillion that exist around the world.

  7. If we put motion sensors on street lights and connected them to the internet, we could reduce energy costs associated with lighting by up to 80 per cent, so says Cisco CEO according John Chambers.

  8. By 2020, around a quarter of a billion cars will connect to the internet, compared with just 10 per cent in 2012, according to Gartner stats.

  9. Gartner also predicts that by 2020, the connected kitchen will contribute at least 15 percent savings in the food and beverage industry by using big data analytics to take inventory information collected by sensors related to kitchen ingredients.

  10. Smart meter deployment is set to increase to almost one billion devices by 2018, according to the International Energy Agency. Among the key deployment drivers for this are renewable power, network and energy efficiency, and reliability.

  11. Around seven percent of consumers own a wearable IoT device and four percent of consumers own an in-home IoT device, according to an Accenture Nearly two-thirds of consumers plan to buy an in-home device in the next five years and wearable technology ownership will double by 2015—increasing from seven percent in 2014 to 14 percent by 2015. By 2016, wearable technology is expected to double again and reach a total of 28 percent adoption rate.

  12. But while the Internet of Things is going to be huge, around 87 per cent of consumers say they haven’t heard of the term. (source: Accenture). Another 40 per cent didn’t know wearable technology was available in the marketplace.