IoT might be the biggest technology trend of 2016. Why?
If the Internet of Things (IoT) advances as many are expecting, trillions of dollars will be spent and earned over the next decade, and the companies that take advantage of it are positioned for huge benefits. Gartner forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from 2015, and will reach 20.8 billion by 2020. In 2016, 5.5 million new things will get connected every day.
So why the explosive growth? What’s the allure of the Internet of Things?
IoT is essentially a promise that you can become master of your universe. It promises control in the midst of chaos. People now have the expectation of whatever, whenever, however. It’s life on demand. In the modern age of instant gratification, entertainment on demand and social networking, it should not surprise us that many people expect all aspects of our lives to be under our control.
Essentially, the Internet of Things is the allure of becoming a Digital Pharaoh.
Pharaohs ordered the seemingly chaotic natural world for their subjects and IoT promises to do the same for our digital world. We’ll be able to rein in the chaos.
However, IoT raises many interesting questions. What is our expectation for privacy? What entities do we allow access to our data? How will our data be used? How responsive do we expect our devices to be? How customizable should the experience be?
Obviously, we’re a step ahead of ourselves. There are currently no standards around which most companies are developing. It’s a very fragmented and nascent market. It’s easy to imagine how this could play out, but much of it is currently a promise for a different future.
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