With all the gadgets featuring Wi-Fi connectivity and smartphone’s in everyone’s pocket, it’s hard to imagine our world becoming more connected. However, the Internet of Things is on the horizon and aims to connect more devices and everyday objects than ever before.
So what is the Internet of Things? Imagine you are on your way home from work. The weather app on your smartphone reads your schedule and realizes it’s time for the commute home. Then the weather app sends a message to your car and plays the current forecast and road conditions. As you approach your house, the GPS in your smartphone recognizes you’re a minute away and opens the garage door, turns on the lights and opens the blinds. This is the Internet of Things.
Big possibilities, big investments. It is expected the global market for IoT will triple by 2020 to $1.7 trillion, according to International Data Corp. Companies like IBM and Google are already starting to invest massive amounts of money into the technologies required to make IoT feasible, such as Google’s new Brillo operating system. These technologies will need to follow a universal set of standards to allow for open communication between any device and any network, something that has yet to be seen.
A new kind of advertising. The IoT will create limitless possibilities for advertisers and marketers that want to create more personal and tailored interactions. For example, embedded chips in everyday products will allow for ads targeted at how the consumer uses their product, based on real-time data. The key to this use of IoT will be making sure consumers can opt-in to the service, and that privacy concerns aren’t overlooked.
The Internet of Things is already on our doorstep. Whether it’s the business side of things, or the consumer experience, the IoT will revolutionize how people and things are connected.
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