The term “Internet of Things” (IoT) generally denotes an advanced level of networked connectivity between objects, platforms, systems and ser- vices that enables the exchange of data without human intervention. The premise behind the IoT is that any object, whether natural or manufactured, can gain the ability to transmit data over a network.
>> International Data Corporation predicts the worldwide market for IoT solutions will grow from $1.9 trillion in 2013 to $7.1 trillion in 2020.
>> MarketsandMarkets gives the IoT market a more conservative — but still lofty — valuation of $1.029 trillion in 2013, increasing to $1.423 trillion by 2020.
>> Gartner forecasts 26 billion connected objects worldwide by 2020 (a figure that does not include PCs, smartphones and tablets).
>> IDate projects 80 billion Internet-connected things in 2020, up from 15 billion in 2012. This figure does include PCs, TVs and smart devices, but the vast majority (85%) will be objects like car tires or shipping pallets that may communicate with the Web via an intermediate device. Devices that communicate directly, such as PCs, TVs and mobile phones, will make up 11% of the total in 2020.
>> Cisco Systems predicts 50 billion things will be connected by 2022, yielding $19 trillion in new revenues ($14.4 trillion of which will ac- crue to private-sector corporations).