By Kat Kynes
Imagine a world where your fridge is talking to your
phone, your toothbrush is talking to your dentist and your home lighting
takes cues from your Netflix viewing choices. The future is closer than
you might think; just ask anyone with a wearable fitness device. The Internet
of Things – the term for a connected network of smart devices – is quickly
gaining momentum, and is all set to disrupt and revolutionise industries
as far-reaching as waste management and health care in the next four
years.
In a recent report from Gartner Inc, it is predicted
that that 5.5 million new devices will get connected every day in 2016,
and we’ll be surrounded by 20.8 billion connected devices by 2020. Using
the results of this report, specialist recruiters Lucas Blakecommissioned
this insightful infographic to help us make sense of the growth of the
Internet of Things.
The report distinguishes between two types of connected
things, cross-industry devices and vertical-specific devices.
Cross-industry are generic devices that have a use in a number
of industries, for example, connected light bulbs to increase energy
efficiency. Vertical-specific devices are more specialised, and serve one
function, such as contain shipping tracking devices. These are
separate
from consumer devices, such as smart heating systems or wearable
devices.
In terms of consumer hardware spending, it is
predicted this number will reach $546 billion by the end of 2016, while
enterprise spending (cross-industry and vertical-specific combined) will
total $868 billion in the same time period. Consumer spending is set to
overtake enterprise spending by 2020, with $1,534 billion in consumer spending
and $1,477 billion in enterprise spending. Compare this to just two years
ago, when consumer spending and enterprise spending was $3,807 combined.
Growth and innovation of this magnitude cannot
happen without addressing a considerable number of risks. Security is one
of the primary concerns; just imagine how interesting your Nest heating
schedule could be to a sticky-fingered burglar. The same goes for
businesses, as they could potentially be allowing smart devices to
transfer sensitive customer data. This isn’t a new threat: when biometric
passports were first introduced, it was soon discovered the data could be
accessed from 30ft away using a widely-available device. Ensuring the data
cannot slip into the wrong hands will be a key factor in ensuring the growth of
the Internet of Things.
To go from 3,807 units installed in 2014 to 20,797
in 2020 will put enormous strain on the networks they use to transmit the
data. Further investment in infrastructure will be essential, as these new
devices will increase pressure on bandwidth at a time when demand is
being stretched in all directions. The opportunities for growth are
immeasurable, but not without careful and considered expansion. There are
still numerous untapped industries that could benefit from the
introduction of the Internet Of Things, and how these innovations will
shape our lives in the future remains to be seen.
***Culled from bdaily.co.uk
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