Long before the advent of today’s smart wrist wearables, we saw Hollywood’s James Bond using his watch to receive messages from headquarters, and long before any company began prototyping connected cars, we saw him in high-speed car chases by navigating through the streets in his smart car augmented with sensors.

Previously the domain of fantasy, such devices are now becoming a reality as a new class of tools accessible to the government, consumers and businesses alike.

The Internet of Things (IoT) has rapidly become one of the most familiar expressions across the technology domain, with the potential to fundamentally shift the way we interact with our surroundings. Everyday objects are getting smarter and connected to the internet, thereby enabling the seamless transfer of information streams between devices, networks, organisations, industries and end users.

Key Trends in IoT 2018 

  1. Smart Houses
  2. Smart Cities
  3. Wearables
  4. Smart Grids
  5. IoT in Healthcare
  6. Industrial IoT
  7. Connected Cars
  8. Smart Retail

What is the Future of IoT in 2020

It is predicted that by 2020, more than 50 billion devices (‘things’) will be connected, with revenues from IoT forecasted crossing 3 trillion USD the same year. This rapid adoption of IoT brings with it a new set of challenges, which raise questions about where and how these devices should be used. But first, it is crucial to understand the functionality of IoT and its implications on aspects of everyday life.

 

Article originally published by PWC

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