By hook or by crook, Internet of Things (IoT) manages to stay in the news, mostly for positive reasons. So what does IoT entail? Wikipedia defines IoT or the Internet of Things (IoT) as the network of physical objects—devices, vehicles, buildings and other items embedded with electronics, software, sensors, and network connectivity that enables these objects to collect and exchange data. For example automobiles with built-in sensors, smart thermostats and remotely monitored home appliances. This technology has a lot to offer in the future. Let us take a look at the predicted trends for 2016 and other long-term forecasts.
The IoT will have 26 billion connected devices by 2020 as forecasted by Gartner. By then, the revenue generated by IoT product and service suppliers will exceed 300 Billion USD. This is the reason why businesses from all domains are rooting for IoT opportunities in the future. Cisco amalgamates IoT with the traditional technology devices like computers, mobiles and tablets to describe the Internet of Everything.
By the end of 2015, there were more mobile devices across the world than earth’s total population. Cisco has also said that by the year 2020, more than 5 billion users will be connected globally on the internet and the number of connected devices will be 50 billion. The following image depicts the statistics of internet connected devices
The global network connecting people, data and machines have been referred to as Industrial Internet by GE, a world leader in technology space. It has been cited by GE that the Industrial Internet has the potential to take the global domestic product to US$ 10 Trillion to US$ 15 Trillion in a span of 20 years, from 2012 to 2032.
Another noteworthy piece of information related to the internet of things (IoT) is its future in proof mobiles. It is believed that IoT sensors will be found in all kinds of devices and will interact with your phone in every possible way. There are no doubts about the fact that our phones will be playing the role of the central controller for our connected lives in the future.
The role of these sensors is expected to go beyond our car’s entertainment centre. Maybe in the future, you might have sensors in your walk-in closet which would keep an eye on your health indicators, thus alerting you if you have become fat and coming up with suggestions for gyms and health centres in your vicinity.
In another instance, a sensor rigged kitchen might help you with your grocery shopping. Imagine your refrigerator messaging you that you have run out of apple juice. If we might have said something like this 15 years back, people would have laughed at us but today, these hypotheses are not far from becoming a reality and the credit goes to the Internet of Things.
It is trends like these which force us to believe that mobile phones will be playing a more powerful role in our lives in the coming years. Being connected would change the face of all major aspects of life from entertainment to health and from finance to security.
From telematics to wearables and connected homes, IoT will penetrate our lives and connect the world like never before. This amazing technology has the capability to make the world a global village in the truest sense of the word. With this magnitude of work happening in the field, IoT presents great opportunities for those who wish to work in this area. A report submitted by Vision Mobile suggests that during 2016, the number of IoT developers will double to reach a whopping 1.5 million in comparison to last year.
At Cognixia, we recognize the power and the potential of this amazing technology. We have specially designed training programs which educate you on the concepts of IoT and prepare you for the challenges in the world of disruptive technologies. If the idea of the Internet of Things fascinates you and you wish to make a career in this field, then enrolling in our IoT Training program would be the best choice you can make. For further information, you can write to us