The IoT(Internet of Things) has tremendous potential. From self-repairing home appliances to medical devices that monitor your health 24/7 and alert the professionals in case of an emergency, the IoT will change the way you work and live your everyday life. In the manufacturing field, intelligent machinery will repair itself and place orders for its own replacement parts, thus helping companies to increase productivity and maintain high levels of service.

According to Gartner, the international research firm, there are already about 3.8 billion intelligent, connected devices or ‘things’ out there, ‘things’ such as industrial robots, smart cars, heart monitors, smoke detectors, toasters, and so on. By 2020, that figure will top 25 billion. The IoT market will be worth about $19 trillion.

A few of the innovations powered by IoT that you can expect in the future include

  • Big Blue’s (IBM) multi-application gas sensor that would help the airports identify and track biochemical threats, as well as diagnose diseases by just analysing the breath.
  • There is already an option for the drivers in Tel Aviv to use a ‘paid’ designated lane if they want to dodge heavy traffic. How it works is that the sensors in the asphalt will record the license plate number of the car, and the owner’s credit card will automatically be charged for using the lane. Large cities all around the world can follow this system in order to lessen traffic woes.
  • According to Cisco, their smart, connected vehicles will not only help to ease traffic but also prevent 85% of head-on collisions by ‘talking’ with each other.
  • Smart (sensor-equipped) LED street-lights that power on only when a pedestrian or a vehicle is approaching. It is estimated that about $250,000 a year could be saved on energy bills with the help of these street-lights.

After steam, electricity and computers, Siemens is predicting that IoT will power the 4th Industrial Revolution and human life will be the better for it.