Trends and characteristics
The IoT’s major significant trend in recent years is the explosive
growth of devices connected and controlled by the Internet. The wide
range of applications for IoT technology mean that the specifics can be
very different from one device to the next but there are basic
characteristics shared by most. IoT creates opportunities for more
direct integration of the physical world into computer-based systems,
resulting in efficiency improvements, economic benefits, and reduced
human exertions.
The number of IoT devices increased 31% year-over-year to 8.4 billion
in the year 2017 and it is estimated that there will be 30 billion
devices by 2020. The global market value of IoT is projected to reach
$7.1 trillion by 2020.