Lionel Sujay Vailshery
Research expert covering cloud computing and emerging tech industries
Internet of Things (IoT) - statistics & facts
In the realm of technology, few concepts have captured imaginations quite like the Internet of Things (IoT). Coined in 1999 by British technologist Kevin Ashton, IoT envisioned a future where a vast network of interconnected objects would collect and analyze data, enabling them to perform tasks autonomously. While the idea seemed more like science fiction at the time, today, IoT is no longer a hypothetical concept but a rapidly unfolding reality. Thanks to the development of communication technologies such as 5G and data analytics using artificial intelligence (AI) and machine learning, IoT has applications varying from smartwatches to city infrastructure (smart cities).
Beyond automated homes, IoT applications are also widely used in smart agriculture, with precision farming systems able to monitor fields with specialized sensors. These device networks keep an eye on the crop and automate precise watering and fertilization for sustainable food production.
The increased penetration of IoT devices in many aspects of our lives is set to improve infrastructure, public utilities, and services, as well as giving rise to the development of smart cities, in turn enabling better decision-making and innovation in addressing complex global challenges.
The many use cases of IoT technology
Truth be told, smart objects, such as electronic wristwatches, car alarms, and coordinated traffic lights, have been in use for decades. IoT brings a greater prevalence of such smart objects with higher connectivity and the ability to collect data in real-time. The number of IoT devices worldwide is forecast to rise to almost close to 30 billion in 2030. There are many verticals of adoption for the IoT, from wearable devices to smart cars, smart homes, smart cities, and even industrial equipment. Industrial applications may see a rise in IoT integration with the convergence of AI, augmented reality, and massive deployment of private 5G networks to seamlessly integrate digital twins to existing processes within an industry.IoT connections and applications
As technology progresses, the cost of components decreases, driving the mass deployment of IoT endpoints in industries. For instance, the commercialization of 5G has increased connectivity and has pushed the deployment of cellular IoT modules, especially in the automotive sector. As a result of the increased automation of homes with IoT, smart home device shipments are forecast to reach 1.8 billion by 2025.Beyond automated homes, IoT applications are also widely used in smart agriculture, with precision farming systems able to monitor fields with specialized sensors. These device networks keep an eye on the crop and automate precise watering and fertilization for sustainable food production.
The increased penetration of IoT devices in many aspects of our lives is set to improve infrastructure, public utilities, and services, as well as giving rise to the development of smart cities, in turn enabling better decision-making and innovation in addressing complex global challenges.
