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Internet of Things: The World of IoT is already here
We’re already living in the world of the Internet of Things (IoT). IDC estimates that there are already 20 billion devices that can connect to the internet and that number will grow to 32 billion by 2020.
Tony Olvet, IDC Canada group vice-president, said that “we’re not talking about SIMs or sensors. There are lots of different players. It’s a fragmented constellation of markets.”
Two areas where IDC sees rapid IoT adoption are with Healthcare and Retail. The IoT healthcare monitoring market is expected to grow from $8.2 billion in 2014 to more than $12.4 billion i n2018. Similarly, Retail IT IoT is expected to grow from $181 million this year to $223 million in 2018.
Other areas of application for IoT technology noted by IDC include personal wellness, smart buildings, remote patient monitoring, food traceability, in store consumer digital offers, air traffic monitoring and smart meters.
JP Rangaswami, chief scientist for Salesforce.com, said of IoT that “the net effect will be to reduce waste everywhere: in physical flows and logistics, in the movement of people and goods; in logical flows and logistics, in the movement of ideas and information; decisions will be made faster and better, based on more accurate information. ‘Inventory’ will be reduced, as will the waste associated with the decay that is an intrinsic part of inventory. This will affect the food you buy and cook and eat; the fuel you use to power yourself, your devices, and your vehicles; the time you take to do things; and, as you learn to live longer, the burden of care will reduce as a result of far better monitoring of, and response to, your physical and emotional state, in terms of healthcare. “
