24 Cool IoT Facts to Celebrate Internet of Things Day
April 8, 2016
There’s Grandparents Day and Chocolate Day, but how about something all of us IoT aficionados can sink our teeth into? Mark your calendars for April 9th: the 5th annual Internet of Things Day. The IoT is permeating into every facet of businesses, cars and homes, so why shouldn’t it have its own party? Remember, if you celebrate too much, there’s an IoT breathalyzer app for that!
So, how are we celebrating? With this list of 24 cool IoT Facts, one for every hour of IoT Day. Buckle up!
The term Internet of Things was coined by Kevin Ashton while working for Procter & Gamble in 1999…
But, according to Forbes, 17 years later, 87 percent of people actually have no idea of what the IoT means or what it stands for.
What’s the first application of connected devices? The concept of a network of smart devices was discussed as early as 1982, with a modified Coke machine at Carnegie Mellon University becoming the first internet-connected appliance, able to report its inventory and whether newly loaded drinks were cold.
However, many people say the IoT’s roots go back even further. According to Intel, ATMs were the first end user-oriented elements to be connected online back in the 1970s.
For every living person on earth, there will be between two and six connected things by 2020, according to IoT Analytics.
Half of U.S. homes with an internet connection also have a connected TV device, according to NPD.
The IoT will account for one quarter of the global 41 million 5G connections in 2024, according to Machina Research. Japan and Korea will lead the charge, and embedded factory-fit connected cars will be the biggest IoT application using 5G.
According to Harbor Research, 65 percent of IoT apps in production today are generating real revenue. Developers expect this figure to rise to 80 percent by 2018. The industries that currently lead in IoT development include smart homes, wearables, automotive and sports/fitness.
The most “popular” IoT applications—based on number of news items, Tweets, LinkedIn posts and Google search items—are Wearables, Smart City, Smart Home, Industrial Internet and Smart Grid, according to IoT Analytics.
Fitness tracking company Jawbone has raised $1 billion in investment, as of January 2016.
The global market for internet-connected wearable devices grew 223 percent in 2015, according to IDC, with Fitbit shipping 4.4 million devices and Apple selling 3.6 million Apple Watches in the second quarter of 2015…
However, Bernard Marr states in Forbes that up to one-third of the people that start using a wearable stop using it within the first six months.
High price is the #1 deterrent to adoption of consumer IoT products, according to a recent Accenture survey.
Business and Governments will be the top users of the IoT by 2020, according to BI Intelligence, with Consumer applications falling to a distant third (less than half of business use).
Asia-Pacific is the largest market for the Industrial IoT, according to TechNavio, valued at close to US$38 billion in 2015. APAC is expected to reach over US$54 billion in 2020, growing at a CAGR of more than 7 percent.
Europe may be the slowest to adopt IoT technology, according to TechNavio, citing factors such as security issues and resistance to shift from older technologies. The UK and Germany are the key leading countries in the European Industrial IoT market.
Who will run IoT projects inside enterprises? IT surprisingly is #2. The top choice? Operations/Facilities/Manufacturing, at just over 42 percent, according to research from Technalysis Research.
The chance of running out of IP addresses because of IoT devices coming online is slim. There are currently five IP addresses assigned on average per inhabitant in the US. Steve Leibson from EDN Network puts IPv6 in perspective: We could assign 105 IP address to every atom on the surface of Earth and still not have an issue.
For a device to be labeled as IoT, according to The Internet of Things Global Standards (IoT-GSI) it must have seven design features: sensors, internet connectivity, processors, energy efficiency, cost effectiveness, quality and reliability, and security.
According to CB Insights, the top two most active investors in the IoT space are corporate: Intel Capital and Qualcomm Ventures.
The largest IoT acquisition of 2015 was the $11.8 billion acquisition of Freescale Semiconductor by NXP.
Gartner predicts that hardware and software advances will make IoT security a fast-evolving area through 2021, and the IoT security skills shortage today will only accelerate.
Machina Research predicts that in 2016, at least one of the major LPWA (low power wide area) technologies today will effectively be rendered redundant.
And last but not least, Computer Weekly created a list of top IoT initiatives in 2015, according to its editors. Number one? A project with Gemalto’s M2M unit, agricultural science firm Eltopia and the University of Minnesota: How the IoT could save the honeybee from extinction.