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BizReport : Trends & Ideas archives : August 18, 2015

Internet of Things: 25billion connected 'things' by 2020

By the end of this year, almost 5 billion 'things' will be connected to the Internet, according to a recent infographic by Computer Science Zone. Come 2020, that number will have risen to 25 billion.

by Helen Leggatt

The Internet of Things is growing. Today, all sorts of devices, whether industrial, commercial or domestic, are embedded with sensors and communicating. Coffee makers, refrigerators, televisions, thermostats, security systems and even cars are all part of the Internet of Things. Even cows have been fitted with wi-fi sensors to keep owners informed of whether they are sick or pregnant.

By the end of 2015, 4.9 billion connected items will be in use - that's almost one for each person on the earth. Within just five years, that number will have risen to a whopping 25 billion.

"The number of connected intelligent devices will continue to grow exponentially, giving 'smart things' the ability to sense, interpret, communicate and negotiate, and effectively have a digital 'voice'," said Steve Prentice, vice president and Gartner Fellow, on whose data the infographic was built. "CIOs must look for opportunities to create new services, usage scenarios and business models based on this growth."

However, along with the convenience of connected devices, comes real security issues. According to Computer Science Zone, "the Internet of Things is growing faster than our ability to secure it".

A recent forecast by IDC reveals the Internet of Things market is predicted to triple from 2014's $655.8 billion to $1.7 trillion by 2020 - a market expansion of 16.9% CAGR in the intervening years.

According to Carrie MacGillivray, vice president of Internet of Things and mobile at IDC, wearables such as the Apple Watch will remain the most visible of devices, but the real opportunity lies in the enterprise and public sector markets since consumers can not yet afford pricey connected devices.

Tags: Internet of Things, security, technology

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