Kevin Ashton first coined the term “Internet of Things” in 1999 in an attempt to explain the topic to high-level executives of what RFID was. He explained that you could use RFID to link products to the internet so they could be tracked and managed in near real time.
Today the topic has expanded to cover many things including Google Glass and the Apple Watch, and various connected products that use different radio front ends.
Here are 6 areas of IoT that should have significant growth in the next few years, along with products that utilize the trends. Some of these products are cutting edge and some are on their way to being household names.
Tracking is one of the areas people have realized that they need more information. Examples of things that would be useful to track: pets, cars, and other high-value items.
2. Power management and control - allow the control of devices from a smartphone.
Technology that is just for fun and our entertainment. For example the quirky Bubblino, a device that blows bubbles when certain keywords appear on Twitter.
4. Health monitoring devices and associated online tools
In the future, we will be using data to make better decisions and healthier choices. On top of this there will be more serious technology in this sector such as the most advanced pacemakers being made today. Examples of this would be Jawbone Up and Fitbit.
5. Household device monitoring
6. Environmental monitoring tools
For example the NEST thermometer, or Netatmo weather station for meteorological data. We will become more knowledgeable of weather patterns and the environment around us.
Professionals are now recognizing IoT as a real trend that needs to be adopted into business practices. IoT is no longer simply a university experiment, but a useful technology that needs to be considered seriously.
The IoT market size will be $290 billion by 2017, and growing at 30 percent a year to $828 billion. The above industries will be sure to see a large amount of this growth, but there will also be new and unheard of ways to utilize RFID and the IoT, we look forward to seeing what these are.