The Internet of Things (IoT) has transformed how industries operate and how people interact with one another. We have seen an impressive array of new IoT deployments from an explosion of smart city applications across the U.S., to sensors implanted in the horns of critically-endangered rhinos in Africa. The evolution of IoT has connected devices at record speed and provided useful business intelligence to solve complex, real-world problems.
IoT devices outnumbered the world’s population for the first time this year. In a recent report, worldwide spending for IoT in 2017 is estimated to have grown 16.7% reaching $800 billion with an expected total of $1.4 trillion per year by 2021. The proliferation of IoT devices can be attributed to the fact that it is now much cheaper and easier to gather information from sensors.