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Internet of things is set to touch $11trillion by 20125 |
Globally IOT ( Internet of things) is just getting started. However Internet of things is set to touch upto $11trillion and more by 2025 compared to just$4 trillion in 2015. That is a jump of almost 3 times in mere10 years. So what exactly is Internet of Things ( IOT) ? Basically it means , people, internet and things will get connected seamlessly.This includes everything from cell phones, coffee makers, washing machines, headphones, lamps, wearable devices and almost anything else you can think of.
This also applies to components of machines, for example a jet engine of an airplane or the drill of an oil rig The analyst firm Gartner says that by 2020 there will be over 26 billion connected devices.That’s a lot of connections (some even estimate this number to be much higher, over 100 billion).The IoT is a giant network of connected “things, People" which will be connected by internet. The relationship will be between people-people, people-things, and things-things.If policy makers and businesses get it right, linking the physical and digital worlds could generate up to $11.1 trillion a year in economic value by 2025.
This also applies to components of machines, for example a jet engine of an airplane or the drill of an oil rig The analyst firm Gartner says that by 2020 there will be over 26 billion connected devices.That’s a lot of connections (some even estimate this number to be much higher, over 100 billion).The IoT is a giant network of connected “things, People" which will be connected by internet. The relationship will be between people-people, people-things, and things-things.If policy makers and businesses get it right, linking the physical and digital worlds could generate up to $11.1 trillion a year in economic value by 2025.
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