The Internet of Things (IoT) represents the next step towards the digitisation of our society and economy, drawing to merge physical and virtual worlds. With IoT potentially every physical object, from sensors to everyday objects, will be interconnected through communication networks and able to gather, interpret, communicate and eventually react to information shared with other objects in the network. The IoT therefore builds on communication between things (machines, buildings, cars, animals, etc.) that leads to action and value creation.
According to Gartner, 25 Billion of Connected “Things” Will Be in Use by 2020. IDC Research, in a study carried out in 2013 for the European Commission, estimates that the IoT revenues in the EU28 will increase from more than €307 billion in 2013 to more than €1,181 billion in 2020, including hardware, software and services accounting for almost 6 billion of IoT connections.
That is why when we talk about “Internet of Things”, with its opportunities and challenges to be sized up, we talk about one of “the next big things”, able to bring disruptive innovation in every sector of society.