The Internet of Things (IoT) is exploding all over the world, as people and businesses alike grapple with the technical, social, and economic significance of living and working in a connected world. In the OEM world, these same technologies are transforming manufacturing, logistics, and the supply chain, as well as changing what features and capabilities consumers are demanding in the products they buy.
Technology forecasters are still scrambling the measure the potential size and reach of this market. In round numbers, researchers anticipate anticipating as many as 100 billion connected IoT devices and a global economic impact of more than $11 trillion by 2025, according to an October 2015 report from the Internet Society titled The Internet of Things: An Overview.
The infographic below, from IT provider ERS Ltd., drills down into worldwide adoption. Clearly, IoT is here to stay. As the drive for IoT adoption continues, though, challenges will likely arise. For electronics OEMs, IoT growth will likely translate into efforts to create boundaries and standards in a variety of areas, including security, privacy, interoperability standards, regulatory requirements, and development.
Let us know in the comments section below, where you see the biggest challenges and opportunities.
— Hailey Lynne McKeefry, Editor in Chief, EBN
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