IOT WHERE NEXT FOR THE IOT?
WORDS MATTHEW GOODING
The internet of things is a much talked about concept, but how is it impacting our lives in 2020? Cambridge Catalyst speaks to some experts about their work with connected devices, and what the future holds for IoT
he internet of things (IoT) is a notoriously difficult concept to pin down, sometimes
“We would define it as stuff deployed into the real world, right now,” Pilgrim Beart, IoT veteran and CEO of Device Pilot, tells Cambridge Catalyst . “It might involve really simple devices, or really complex ones, but the thing that makes it IoT, obviously apart from it being connected to the internet, is that it’s deployed in a factory, in a kitchen or on the street.” However you define it, the business opportunity around IoT and connected devices is massive. According to a report by Verified Market Research released earlier this year, the IoT market was worth $212 billion in 2018, a valuation that is set to increase to about $1,319 billion over the next six years.
even for those who work on it. Type ‘definition of IoT’ into Google and you’ll get a plethora of results, ranging from the reductive (‘everything connected to the internet’) to the jargon-heavy (‘a system of interrelated, internet- connected objects that are able to collect and transfer data over a wireless network without human intervention’). As with most things, the truth is perhaps somewhere in the middle and, broadly speaking, the term refers to connected devices that collect and use data from the environment around them to provide useful insights or make our lives easier.
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