British computer scientist Sir Tim Berners-Lee invented the Word-Wide-Web 28 years ago. First-ever world wide web went online in the year 1991. Today, internet has become the main vehicle for information exchange, commerce, communication and has become an integral part of day to day life.

SwissCognitiveTechnology and internet adoption over this decade has seen fundamental changes in the way people interact with one another. Worldwide, it is not just us humans that are connecting to the internet anymore. With the influx of technological advancements, objects are connecting to the internet too and interacting with humans, smart & intelligent systems and exchanging data.

Birth of the Internet of Things

The first linking of objects to the internet through RFID was done in 1999 at MIT by Sanjay Sarma, David Brock and Kevin Ashton. Kevin Ashton coined the phrase “Internet of Things” when he was working on a presentation.

The Internet of Things (IoT) is revolutionizing how everyday things and people interact with one another via the internet. Internet of things goes beyond Machine-to-Machine (M2M). Things in IoT can refer to wide range and not just M2M. IoT devices collect useful data with the help of various existing technologies and then autonomously flow that data to other devices and systems. IoT has provided new revenue streams for the businesses, improved quality of life in some sectors, and provided new innovative products and services. IoT involves devices connected to the internet, thereby solving day to day problems of people and businesses in an ingenious and simple way.

An Ocean of connected “Things”

It is the convergence of multiple factors and technologies – wide availability of cellular data network, Wi-Fi communication, mobile devices penetration, smart devices adoption, real time analytics, machine learning, sensors, embedded systems, faster communication speeds, big data, cloud applications and systems capability maturity etc. that have contributed to the growth of IoT.

2016 saw 6 Billion connected “Things”. IoT devices are expected to surpass 8 billion in 2017, outnumbering the world’s population. Consumer segment in IoT has the largest share of 5 Billion connected devices, and rest 3 Billion is expected to be used by Business segment. It is expected that overall IoT spending will be $1.6 trillion in 2017, and there will be 20 Billion connected “Things” in 2020. […]