Internet of Things: Potential, Hurdles and Current Uses (Infographic)

The Disney World and FedEx are among the many – and growing – users of the IoT technologies that boost revenues, increase efficiencies, unlock savings and generally benefit companies, governments and individuals all across the world. As of 2013 there…

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Vlad Solodovnyk
9 Jul, 2015

Internet of Things: Potential, Hurdles and Current Uses (Infographic)

The Disney World and FedEx are among the many – and growing – users of the IoT technologies that boost revenues, increase efficiencies, unlock savings and generally benefit companies, governments and individuals all across the world.

As of 2013 there were 300,000 software developers working with IoT software, a number that by 2020 is expected to shoot up to 4.5 million (compound annual growth rate of 57%). The value of the IoT market will grow, but at a slower rate: from $1.3 trillion in 2013 to $3.04 trillion in 2020 (CAGR of 13%), reflecting falling technology costs and solution standardization.

Get insights into the technology’s promises, challenges and current uses with the IoT infographic created in 2013, but still relevant today, below:

IoT 2020 Infographic by NJIT

IoT 2020 Infographic by NJIT

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About the Author

Vlad is a writer with over 10 years of experience in the IT industry. He thinks of technology as a tool and likes to write about the ways people choose to use different tools, often with unexpected consequences.

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