25 billion things - that is the number of devices that Gartner expects to see connected to the Internet by 2020.
This in itself represents a 5-fold increase from the 4.9 billion devices that are already connected today.
As evinced by the numbers, the Internet of things has without a doubt captured the imagination of organisations and individuals across the globe.
Whether it be concepts such as driverless cars, automated environmental controls or smart cities, all are promising to make life more convenient, efficient, and sustainable.
Consequently, analyst firm IDC estimates that the IoT market will be worth some US$7.1 trillion by 2020.
“IoT as a term was conceived by a MIT professor almost 20 years ago,” says Chaney Ho, President of Advantech, a global provider of embedded and automation products and solutions.
Taking the stage at the recent Microsoft Analyst Summit Asia 2015, Ho and a host of Redmond officials discussed the advent of IoT as a mainstream technology, with more than 80 attending analysts.
“Many people still think that the IoT is a thing of the future – and they could not be more wrong,” Ho claims.
For Ho believes that, across Asia-Pacific, including New Zealand and Australia, the IoT era is already here.
So much so he estimates that the IoT market segment in the Asia Pacific which Advantech is addressing is already worth over US$12 million today (excluding devices).
And that’s only the tip of the iceberg. IDC estimates the Asia Pacific market (excluding Japan) will drive IoT services and devices to be worth US$250 billion by 2020.
In October 2014, a Microsoft-sponsored survey of 291 CIOs in Asia Pacific showed that there is a sense of urgency amongst IT leaders in Asia Pacific to take advantage of what IoT has to offer.
It is viewed as the second most disruptive technology to organisations in the region; 79 per cent said that they already have or are planning to implement ambient technology solutions.
As a result, IoT was ranked 4th in terms of current CIO priorities (after Cloud, Mobility, Big Data) in the next three years.