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How the IoT will explode by 2020

The Internet of Things (IoT) Revolution is picking up speed and it will change how we live, work, and entertain ourselves in a million ways big and small.

From agriculture to defense, retail to healthcare, everything is going to be impacted by the growing ability of businesses, governments, and consumers to connect to and control their environments:

“Smart mirrors” will allow consumers to try on clothes digitally, enhancing their shopping experience and reducing returns for the retailer

Assembly line sensors will detect tiny drops in efficiency that indicate critical equipment is wearing out and schedule down-time maintenance in response

Agricultural equipment guided by GPS and IoT technology will soon plant, fertilize and harvest vast croplands like a giant Roomba while the “driver” reads a magazine

Active people will share lifestyle data from their fitness trackers in order to help their doctor make better health care decisions (and capture discounts on health insurance premiums)

No wonder the Internet of Things has been called “the next Industrial Revolution.” It’s so big that it could mean new revenue streams for your company and new opportunities for you. The only question is: Are you fully up to speed on the IoT?

After months of researching and reporting this exploding trend, Business Insider Intelligence has put together an essential briefing that explains the exciting present and the fascinating future of the Internet of Things. It covers how IoT is being implemented today, where the new sources of opportunity will be tomorrow and how 17 separate sectors of the economy will be transformed over the next 20 years, including:

If you work in any of these sectors, it’s important for you to understand how the IoT will change your business and possibly even your career. And if you’re employed in any of the industries that will build out the IoT infrastructure—networking, semiconductors, telecommunications, data storage, cybersecurity—this report is a must-have.

Among the big picture insights you’ll get from The Internet of Things: Examining How the IoT Will Affect The World:

IoT devices connected to the Internet will more than triple by 2020, from 10 billion to 34 billion. IoT devices will account for 24 billion, while traditional computing devices (e.g. smartphones, tablets, smartwatches, etc.) will comprise 10 billion.

Nearly $6 trillion will be spent on IoT solutions over the next five years.

Businesses will be the top adopter of IoT solutions because they will use IoT to 1) lower operating costs; 2) increase productivity; and 3) expand to new markets or develop new product offerings.

Governments will be the second-largest adopters, while consumers will be the group least transformed by the IoT.

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