The Factors That Drove Rapid Industry Adoption of the IoT

It may seem like it was only a few years ago when the Internet of Things (IoT) was a relatively obscure concept rarely known of outside of tech circles—that’s because it was. It is safe to say that in just a few short years, the IoT has exceeded many estimates and expectations. Today, a plethora of IoT-enabled devices—i.e. devices that are capable of connecting to the Internet and communicating with other ones—are widely available, from home assistants to washing machines, very few stones have been left unturned. Now, a new report by The Economist Intelligence Unit (EIU), which examines the results of its own IoT Business Index survey and includes in-depth interviews with industry executives, has illustrated just how much the IoT has grown in a relatively short space of time.