According to several studies, the Internet of Things (IoT) is being considered as the arrival of the new disruption in the digital realm. It was in 1999 when Kevin Ashton, a professor at MIT (Massachusetts Institute of Technology) at the time, used the expression Internet of Things in a conference with an executive team of Procter & Gamble.

In summary, it can be described as an interconnection of any product with any other around it. Its significance is brutal and, according to a report by McKinsey Global Institute (Fredrik Dahlqvist,  2019), IoT has increased from 13 percent in 2014 to about 25 percent today, making it a key technology for the advance of our industry, territory and society.

In terms of the number of embedded devices, taking into account that every human being is surrounded by at least about 1,000 to 5,000 objects, it is not unreasonable to expect that the Internet of Things could grow to over 43 million in 2023 according to Mckinsey, although there are forecasts, indicating that this deployment rate will be much higher.

In terms of market impact, the IoT market is expected to reach an economic impact of between $4 trillion and $11 trillion by 2025. In terms of features, functionalities, capabilities, and cost of the Internet of Things, it is relevant to say that IoT platforms are the superbase for interconnecting devices and generating an ecosystem of their own (Ashton, K. 2011).

Companies active in any kind of sector are deploying IoT devices in order to capture data and create new value revenue streams offering new products and services to end-users. This technology will help to digitalize our world creating new business models for all kinds of businesses, from the big corporations to the industrial and traditional SMEs.

Here indicated some of the relevant platforms of IoT existing currently:

In this sense, “A key milestone of the DTAM project is the training curriculum that will focus on five key areas, one of which will be the Internet of Things”. In addition, to facilitate the learning and use of this technology in the framework of the DTAM project, a virtual IoT laboratory is being developed, and for this purpose, it is necessary to design the global map of the integration of devices-systems-services in the value chain. Have a look at the image below, provided by our partners at GAIA, illustrating this integration process:

IoT integrated vision. Global map of the integration. Source: GAIA

Interested in learning more about IoT and Big data? We will have some more exciting news for you in the coming months, so stay tuned!

Featured image credit: Mockup psd created by freepik – www.freepik.com

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