Internet of things has certainly changed the way we interact with the technology. It is already changing our lives making our homes and workplaces smart and even smarter every day. Doctors, scientists, and researchers are now doing things that were unimaginable before. With this new surge in technology and its widespread acceptance, IoT is going to change the future.

Predicting the future for the coming 2020, the Internet of things will change the way we live today. Technology is going to make things easier, quick, convenient, efficient and more friendly. Also, it will open a dozen new opportunities and potential benefits for the society. Not only the common man will find it more convincing, but the organizations will also find more lucrative business opportunities.

The near future will make us surround with the IoT devices. The technology will make everything smart. Smart cities, smart offices, as well as smart industries. Today many IoT business use cases already align to the practical business objectives to improve efficiency in business operations and user experience. The technology will undoubtedly build foundations such as predictive maintenance, responses to sensory inputs, intelligent location systems, and much more.

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When it comes to spending, the Internet of Things will cost about US $ 471 Billion by the year 2020, which is about 20% more than that was spent in the year 2015. This price includes professional, consumer as well as connectivity services derived from the Internet of things. Apart from research and development, another expense is the shipment of these products and services. The anticipated cost of shipment is expected to reach 6.5 Billion in the year 2020. With the appreciated support, development and acceptance of these devices, industries, and homes are connecting a new device every day. This number is expected to touch the mark of 63 million attachment per second moving towards the year 2020.  However, the technology will bring about changes to the recent trends, the architecture of the IoT systems operating today, and the way in which they are connecting today.

The Bottom Line

The coming future will show us billions of connected devices integrated together with physical things changing our homes and workplaces as never before. Machines are going to be more intelligent and help the human kind explore more areas and new dimensions of the knowledge.