7 Facts About IoT That Will Add To Your Knowledge Bank!

IoT or Internet of Things is a revolutionary technology of the 21st century. IoT can be defined as an ecosystem of interconnected devices or gadgets with embedded capability, that can receive, collect, and transfer data over a network without any command from outside. IoT transforms the everyday devices into intelligent devices. Nowadays, an increasing number of people are using this technology in their day-to-day lives, either knowingly or unknowingly. Given below are seven notable facts about IoT that will enhance your knowledge about this technology:<br>u2022tMorgan Stanley via BI Intelligence estimated that there will be above 75 billion functional IoT devices by the end of the year 2020; that means 7 devices per person on average.<br>u2022tGE has forecasted that investments in the industrial IoT (IoT) devices will reach an astonishing $60 trillion in the next 15 years.<br>u2022tAs per CCS Insight, the wearable market, which include devices such as fitness trackers, smartwatches, etc. could become a huge $25 billion market by 2019.<br>u2022tSmart homes, which use IoT technology, will become increasingly popular. The global smart-home market might touch an unbelievable $490 billion mark by the end of 2019.<br>u2022tAbout 94% businesses that made use of IoT in some way have registered a higher ROI.<br>u2022tAccording to a projection, by 2020, around 250 million vehicles around the world will be IoT enabled to render better in-vehicle services and automated driving.<br>u2022tAccording to industry experts, the research in the IoT field will produce millions of job opportunities in the IoT field in the years to come. http://bit.ly/2XL6cxN<br>

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