A Simple Explanation of the Internet of Things

Shared on April 17, 2020

What Is It? A global network of connected people and devices

What Is It Enabled By? Decreasing technology costs, sensor, connectivity, APIs, and more.

What Devices Are Involved?

  • Artificial limbs

  • Parking spaces

  • Pacemakers

  • Toothbrushes

  • Kitchen appliances

  • Wearable devices

  • Jet engines

  • Thermostats

  • Cars

  • Medical Devices

  • Personal appliances

  • Home security systems

  • Curling irons



What Are Ways To Connect?

  • Human to Human

  • Human to Device

  • Device to Device



What Industries Will Be Impacted?

Virtually all including manufacturing, retail, transportation and logistics, healthcare, energy, agriculture, financial.



By 2020, How Many Devices Will Exist?

  • Gartner 26 Billion Units

  • Cisco 50 Billion Units

  • Intel 200 Billion Units

  • IDC 212 Billion Units



What Will Market Size Be?

  • $8.90 Trillion by 2020 - IDC

  • $14.4 Trillion by 2022 - Cisco



What Are The Business Challenges?

  • Enabling customer privacy and property rights

  • Managing vast amounts of data

  • Over-reliance on technology

  • Meeting customer needs and expectations



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