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10 Interesting facts about the Internet of things

What is the Internet of Things?

“Internet of Things (IoT) is an ecosystem of connected physical objects that are accessible through the internet.” – Happiest Minds

In other words…

Internet of Things is somewhat similar to the Internet that we know, but it operates at a much larger scale. IoT is about connecting more devices to the internet. It will enable the development of means to connect not only our smartphones and laptops to the internet but our homes, appliances, cars and even our clothes as well. IoT promises to make our global society more automated and efficient than ever before.

In order to make people more familiar with the term, we have listed below the most interesting facts and figures on IoT:

1) ATMs are considered some of the first IoT objects and went online as far back as 1974.

2) Back in 2008, there were already more objects connected to the Internet than people.

3) Out of all businesses that have implemented some kind of IoT initiative, 94% have seen a return on their investment!

4) By 2018, there will be 22 billion IoT devices installed, driving the development of over 200,000 new IoT apps and services.

5) One of the first internet-connected appliances was a Coke machine at Carnegie Mellon University. Sensors allowed students to see if the machine was stocked and whether drinks were cold.

6) Right now, the most popular use of IoT is with smart home devices—including smart thermostats, connected lights, and smart door locks—followed by wearable technology, such as smart watches, activity trackers, and smart glasses.

7) There is now a smart mirror that will analyze your face for wrinkles (so you can know exactly how effective those creams are).

8) General Electric believes that the IoT can be used to improve oil and gas exploration. Just a 1% improvement could result in $90 billion in savings.

9) Safety & Convenience top the list of reasons why consumers adopt a smart home technology. – (eMarketer)

10) According to a recent Accenture survey, a high price is the #1 deterrent to adoption of consumer IoT products.

IoT has a vast potential and carries limitless opportunities with itself, it will surely continue to surprise us even more and make our lives more automated in future.

Do you know any other interesting fact about the Internet of Things? We’d love to hear it from you just drop it in the comments below!

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