Over 50% of top new business processes and systems to have some element of IoT by 2020: study

Over the next four years, Internet of Things will have a considerable impact on consumers and corporates. Number of IoT projects will get doubled, IoT linked security to cost 20 pc more and a black market of fake IoT devices and sensors worth $5 billion will come into existence by 2020, reveals Gartner.
More than half of major new business processes and systems will incorporate some element of the Internet of Things (IoT) by 2020, according to Gartner. The impact of the IoT on consumers' lives and corporate business models is rapidly increasing as the cost of "instrumenting" physical things with sensors and connecting them to other things devices, systems and people continues to drop.
According to W. Roy Schulte, Gartner's Vice President & Distinguished Analyst, uses of the IoT that were previously impractical will increasingly become practical.
"The IoT is relevant in virtually every industry, although not in every application. There will be no purely 'IoT applications.' Rather, there will be many applications that leverage the IoT in some small or large aspect of their work," said Schulte.