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IOT AND BIG DATA: INEXTRICABLY LINKED
The era of IoT, or the Internet of Things, is upon us. In a January 2017 report, Gartner estimates 8.4 billion connected products will be in use this year. This is up 31% from 2016, and it is only set to grow. The consumer segment represents almost two-thirds of the overall apps in use (5.1 billion units). The same study estimates that the future of business IoT—to the tune of 4.4 billion units by 2020—lies in cross-industry connectivity (think not just smart metres, but smart buildings, where lighting, security and heating, ventilation and air conditioning systems (HVAC) interact). Business IoT in 2017 will drive almost $1tn in spending on hardware alone ($725bn in the consumer segment), and both are set to top $3tn by 2020.
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