Can we even begin to measure the impact smart technology and the IoT is going to have on our lives? Here are Amica Electrical Engineers, we believe Loxone’s smart, connected devices are already transforming the way in which we live our lives, and will only continue to do so.
- ATMs are considered some of the first IoT objects, and went online as far back as 1974.
- Back in 2008, there were already more objects connected to the Internet than people.
- In 2016 we will have 4.9 billion connected things, some predict that by 2020, the number of Internet-connected things will reach or even exceed 50 billion.
- In 2015, over 1.4 billion smart phones will be shipped and by 2020 we will have a staggering 6.1 billion smartphone users.
- By 2020, a quarter of a billion vehicles will be connected to the Internet, giving us completely new possibilities for in-vehicle services and automated driving.
In fact, we already have cars that can drive on their own – Google’s self-driving cars currently average about 10,000 autonomous miles per week.
- The global market for wearable devices grew 223% in 2015, with Fitbit shipping 4.4 million devices and Apple AAPL -1.18% selling 3.6 million Apple Watches.
- Internet-connected clothing is coming. Estimates predict that 10.2 million units of smart clothing will ship by 2020, compared to a meagre 140K units in 2013.
- Today, the market for Radio Frequency Identification (RFID) tags, used for transmitting data to identify and track objects, is worth $11.1 billion. This is predicted to rise to $21.9 billion in 2020.
- Machine-to-machine (M2M) connections will grow from 5 billion at the beginning of this year to 27 billion by 2024, with China taking a 21% share and the U.S. 20%.
- GE believes that the “Industrial Internet” (their term for IoT) will add $10 to $15 trillion to global GDP in the next 20 years.
- According to estimations by the McKinsey Global Institute, the IoT will have a total economic impact of up to $11 trillion by 2025.
- Having a connected kitchen could save the food and beverage industry as much as 15% annually.
- CISCO believes the IoT could generate $4.6 trillion over the next ten years for the public sector, and $14.4 trillion for the private sector.