According to a report from Business Insider, 24 billion IoT devices will be installed on Earth by 2020. To simplify the calculation, that is more than 4 devices for every human on earth.
IoT was initially introduced in computers and later it reached to smartphones, tablets, smartwatches, and TVs. Now, everyday devices like thermostats and smoke detectors have started boosting themselves with smart capabilities. These are now being counted as a part of IoT. Even our transportation system will also change completely with the expansion of IoT.
Big companies like Google, Apple are investing millions of dollars in order to expand their reach in the field of IoT. In recent years, several IoT startups have also come up and they are changing the face of technology. In 2015, U.S government invested $8.8 billion in IoT solutions and the price for Internet-connected sensors are also falling. That means IoT-enabled devices will be available to more people at an affordable rate.
Slowly, the demand of IoT-enabled devices is increasing. This IoT revolution will change our transportation, homes, cities. As IoT grows, security challenges will also increase. We have to be prepared to tackle such kind of problems in the near future.