Internet of Things (IoT)

Internet of Things is a term coined by Kevin Ashton while working for Proctor & Gamble in 1999.

Later on he co-founded Auto-ID Center at the Massachusetts Institute of Technology.

IoT is nothing but inter connected objects on a network which work together using various softwares and hardwares to create a smarter world.

IoT is seeing a rapid  growth and a lot of industries and vertical are trying to understand how best they can capitalise the advantages that it offers.

 It is said that in the next 10 years, the IoT revolution will dramatically alter manufacturing, energy, agriculture, transportation and other industrial sectors of the economy which, together, account for nearly two-third of the global gross domestic product (GDP).

According to 2014 Machina Research data cited at the TiE panel, the global market for IoT in 2020 will be worth $373 billion in revenue, with $194 billion from hardware and $179 billion from software. India will account for $10–12 billion of this total revenue.

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