By the year 2018, which Internet device industry will be larger than all of the rest combined?
The
answer is the burgeoning Internet of Things (IoT), in which seemingly
ordinary objects are interconnected in order to automate everyday tasks.
Some items that are already part of the IoT include thermostats, air
conditioners, and door locks.
The IoT could be coming to your home, office, and hometown, courtesy of tech giants such asApple, Google and International Business Machines. These companiesare poised to return a lot of value to investors because of the IoT.
A bunch of thingsAccording
to one estimate, in four years the installed base of smart devices will
have grown from 5 billion to 18 billion, with the majority considered
to be part of the IoT.
The
total estimated market value at stake in the IoT is projected to
increase from $1.2 trillion today to $14.4 trillion in 2022, according
to a projection from Cisco Systems.
In
addition to Internet devices, the IoT will also have applications in
the following areas that will impact the business-to-business market:
1. Advertising (electronic billboards)
2. Traffic management
3. Waste management
4. Smart electric grids
5. Smart water systems
6. Industrial automation
