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The InternetOf Things in FOUR charts
We already have televisions, cars, homes, industrial equipment and other things connected to the Internet.
They can automate systems for us, allow us to communicate easier, and collect data for us.
So whether we’ve known it or not, the Internet of Things is already here.
But the amount of Internet of Things (IoT) connections is about to explode.
Take a look…
Here we are! Source: Cisco.
While American technology companies are making lots of IoT progress, Asia currently has the most connections.
That’s because China’s government has committed to spend $603 billion by 2020 for machine-to-machine connections.
So what’s the worth of all of these connected things?
Probably much more than you think.
But not everyone has the same predictions.
Cisco believes the market size will be $19 trillion by 2025.
The potential market size is so big because the IoT is about increasing efficiency, as well as creating new profits.
And those efficiencies will touch nearly every part of our lives: healthcare, transportation, utilities, etc.
General Electric says that a 1% increase in efficiencies from the Industrial Internet (part of the IoT) will have huge savings.
There’s still a lot of room for varying Internet of Things predictions.
But even if we look at the low estimates, the Internet of Things will still have a huge impact on our lives.
And we’ve only just begun.
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