Internet of Things (IoT) – the technology that enables devices to connect with each other, providing a seamless inter-device communication. The technology helps in data management, informed decision making, track and manage the data. IoT provides businesses with operational efficiency and workforce productivity.
The explosion of smart devices will add ‘a ginormous’ amount of data. For instance, a sensor on a single Boeing aircraft jet engine can generate about 20 terabytes of data per hour. So what will happen several billion devices start generating several zettabytes of data? Gartner predicts that over 20 billion devices will be connected by 2020.
About 65% of the enterprises are set to adopt IoT by 2020. This shift would mean that more than 10% of new IoT products from traditional industries will be headed by the Chief Innovation Officer (CIO).
By 2020, Gartner estimates internet-connected things will outnumber humans 4-to-1, creating new dynamics for marketing, sales and customer service.
So, what else can we expect in the near future?