Connected devices will number 9.7 billion by 2020 says Gartner.
Investment and service opportunities will see 'smart' homes and 'smart' commercial buildings representing 45% of the total connected things in 2015, according to Gartner, which estimates this figure will rise to 81% by 2020.
A Kitchen of Things Image: Digital Trends |
The research company defines a smart city as "an urbanized area where multiple sectors cooperate to achieve sustainable outcomes through the analysis of contextual, real-time information shared among sector-specific information and operational technology systems."
With the private sector funding most of the Internet of Things (IoT residential citizens are at the forefront with examples such as smart LED lighting recording the highest growth from six million units in 2015 to 570 million units by 2020.
"Homes will move from being interconnected to become information- and smart-enabled, with an integrated services environment that not only provides value to the home, but also creates individual-driven ambience. The home will become the personal space that provides assistance or personal concierge experiences to the individual," said Bettina Tratz-Ryan, Research Vice-President at Gartner.
Automobile companies are investing in streetlights with charging stations embedded in the posts to reduce costs. Sensors allow these companies to identify vacant charge-parking spaces for their customers, communicated via mobile applications and on-board systems. They will also faciliate the payment and transaction.
Technology and Service Providers (TSPs) will see real revenue opportunities in the services and analytics sector.