Ten Trends of IoT in 2020

The Internet of Things (IoT) is actively shaping both the industrial and consumer worlds. Smart tech finds its way to every business and consumer domain there is -- from retail to healthcare, from finances to logistics -- and a missed opportunity strategically employed by a competitor can easily qualify as a long-term failure for companies who don't innovate [3]. The year 2020 will hit all 4 components of IoT Model: Sensors, Networks (Communications), Analytics (Cloud), and Applications, with different degrees of impact. By 2020, the Internet of Things (IoT) is predicted to generate an additional $344B in revenues, as well as to drive $177B in cost reductions. IoT and smart devices are already increasing the performance metrics of major US-based factories.