It is difficult to verify Cisco’s prediction of 50 billion connected devices by 2020 or Gartner’s guess of $1.9 trillion in economic value add. What is clear is that a significant movement is afoot, and major players like Google, with its acquisition of Nest, are positioning themselves to ride the IoT wave.
IoT is simply interconnected devices that generate and exchange data from observations, facts, and other data, making it available to anyone. IoT solutions are designed to make our knowledge of the world around us timelier and more relevant, making it possible to get data about anything from anywhere at any time. IoT devices have one thing in common: they can be accessed via the Internet to either display data or interact with the devices directly.