10 Stunning Figures about IoT
As technology advances, communications no longer entail human beings only.
The rapid development of Internet of Things (IoT) has created a huge, world wide network of inter-connected devices which support human-to-machine (HMI) and machine-to-machine (M2M) interactions.
Some even maintain that the first IoT devices date back to early 1970's, with ATMs figuring as the first examples of the new trend.
IoT has come a long way since then and it permeates every aspect of our lives. So much so that some staggering figures have emerged to predict what the Internet of Things will mean in the next 5 to 10 years:
1) By 2018 IoT sensors and devices will replace smartphones as the largest category of connected devices;
2) By 2020 the number of devices connected to the Internet will reach and possibly exceed 50 billion;
3) By the same year, the number of vehicles connected to the Internet will exceed 250 million, turning automated driving and self-driving cars into reality;
4) By 2020, the biggest market for IoT will be Smart Living, accounting for USD 56.18 billion;
5) By 2020, 40% of IoT's predicted market value will come from developing countries;
6) By 2020, 75 million IoT devices will be employed in Smart Farming and Smart Agriculture;
7) By 2021 the total world spending on IoT solutions will reach $6 trillion;
8) By 2024, the USA will have 20% of the world's connected devices;
9) By 2025 the total economic impact of IoT will be USD 11 trilion;
10) By 2025 there will be at least 88 Smart Cities all over the World.