10 Amazing Facts Everyone Should Know About Internet of Things

The Internet of Things is the next big innovation wave that will change how we shop, cook, drive, exercise, bank…in short how conduct our day to day lives.

The world and the ways we interact with it are being transformed because of smart devices connected to each other creating the Internet of Things (IoT). Here’s a list of examples that serve to exemplify the impact of this phenomenon.

  1. ATMs, which went online since 1974, are considered some of the first IoT devices. There was no Internet back then, but you get the idea.
  2. The year 2008 was the date in which more objects were connected to the Internet than people.
  3. In 2015 we have about 4.9 billion connected things. Some predictions state that by 2020 the internet-connected things will reach 50 billion.
  4. There will be 6.1 billion smartphone users in 2020.
  5. Many of the devices we have in our homes will be connected through the IoT. Companies like Google understand this, for example, Google bought the smart thermostat maker, Nest Labs, for $3.2 billion. We will likely see more companies investing or working on creating smart household devices.
  6. Automated driving will be even more developed by 2020 since by that year it’s estimated that 250 million vehicles will be connected to the Internet.
  7. In 2015, the market for wearable devices grew 223%. Fitbit shipped 4.4 million devices and Apple sold 3.6 million Apple Watches.
  8. According to the McKinsey Global Institute, the IoT will have an economic impact of up to $11 trillion by 2025.
  9. Having a kitchen connected to the IoT could save the food and beverage industry 15% annually.
  10. CISCO estimates that the IoT could generate $4.6 trillion over the next ten years for the public sector alone.

Now just think about all the data those devices will create!

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