What you’ll need when the big Internet of Things breakout occurs

The Internet of Things (IoT) sometimes has the feel of a trend that’s forever going to be on the cusp of a huge breakout. Figures fly around about the projected size of the IoT and they’re always massive (such as the 50 billion devices Cisco predicted by 2020). But the number of things in the IoT is already counted in the 8 billion to 15 billion range. So, shouldn’t we be seeing more from the IoT by now? Based on what leaders are saying in a survey commissioned by Verizon, we soon will.

Seventy-three percent of executives said they are either researching or currently deploying IoT. And a majority of business leaders surveyed by The Economist’s Intelligence Unit (55 percent) expect IoT technologies to help them make internal cost savings and/or generate external revenue in the next three years.

This widespread optimism, and investment, isn’t based on pie-in-the-sky thinking. I believe it’s because the key obstacles holding back the IoT such as privacy and security concerns will soon be cleared, and this shift will largely be driven by interconnection at the digital edge.

The IoT today and tomorrow

The promise of the IoT really begins to come to life when you imagine what we’ll be able to do with all the previously inaccessible data streaming off billions of once-mute objects that, it turns out, have a lot to say. We’ve gotten some answers already, and it’s worth highlighting a few ways the IoT is being used to understand why businesses are so hungry for more.

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