The Rise of the ‘Internet of Things’

A new forecast from Business Insider Intelligence revealed that it’s only a matter of time before the Internet Marketplace connects everyday and enterprise devices to the Internet – for good.

According to the report, there are 1.9 billion devices currently connected to the Internet, with an expected 9 billion in 2018. For consumers, the rise of kitchen and home appliances, lighting and heat products and insurance company-issued car monitoring devices (such as GPS) will continue to grow. The permeation of the space will drive trillions of dollars in economic value.

From a business-to-business perspective, the Internet of Things will see continued growth in the following applications: Connected advertising and marketing, with more prevalent Internet-connected billboards, smart favorites and telecommuting support systems; waste management systems that offer a “pay as you throw” program that utilizes technology to monitor residential waste; intelligent traffic management systems that will include toll-taking and congestion penalties and smart parking-space management; a smart electricity grid that adjusts the rate of peak energy usage; smarter water systems and meters; and finally, industrial uses for Internet-managed assembly lines, warehouses and connected factories.

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