IOT is the next upgrade in the society Microsoft terms it as the second wave of internet IOT is some of the few areas that have a double digit growth rate and the market size is expected to be 20 billion dollars by the year 2020.IOT has already started catching pace. All major MNC’s have jumped into IOT and would soon require multi talented professionals to handle their IOT divisions.
Internet of Things or Internet of Everything isn’t a new concept. It has been around since 2005, but it has gained popularity in the past two years only. The word “Things” refers to machines and thus IoT is technically M2M communication.
IoT not only promises a better life style for the public but also finds a lot of application in the industry and manufacturing. In fact a separate term Industrial Internet of Things has been sculptured for this.
According to a survey the size Industrial IoT alone will increase to 3 trillion dollars by 2020. As of now only 1% of all machines present on this globe are connected to internet i.e only computers and phones. Rest 99% are out there waiting to get connected.