The Present and Future of the Internet of Things
The Internet of Things (IoT) is a technology macrotrend that we have covered previously both here and here. This particular infographic shows how we got to where we are today, and what it means for the future.
The most important factors that have made the IoT possible is the decreases in cost for the technology that makes it possible. The average cost of sensors, bandwidth, and processing have all dropped down substantially since the birth of the internet. Combined with smart phones and ubiquitous wifi, this creates an environment where everything can be linked and optimized through big data. Thousands or millions of seemingly insignificant data points can be very relevant to decision-making and optimization once they are processed and analyzed.
The future of the Internet of Things starts with a mega expansion of connectivity as every new electronic device, car, home appliance, and industrial item gets connected to the web. Personal lives, cities, workplace productivity, and consumption will all change. The growth and maturity of the wearable market is one such area that will change the workplace alone.
Growth of the Internet of Things is expected to peak in 2015:
Original graphic from: Goldman Sachs
