The Internet of Things (IoT) is a nascent but growing set of technologies, based on devices that can share data via an internet connection, that have implications for businesses and consumers. It is predicted to have a seismic impact on aspects of society including healthcare, transportation, shopping and energy, and may soon influence marketing strategies. It promises convenience but, given its foundation is built on access to consumer data, privacy concerns must be addressed if trust is to be achieved.

Definition

The Internet of Things (IoT) is the network of physical devices, such as cars, buildings, watches and fridges, that have sensors, and network connectivity, embedded in them. These objects collect and exchange data, enabling the development of technologies such as smart grids, smart homes, intelligent transportation and smart cities.

Key insights

1. The Internet of Things will drive mobile growth by 2023