What is the future of IoT (Internet of things).

A Google search for “Internet of Things” term reveals over 280,000,000 results, thanks to the media making the connection between the smart home wearable devices, and the connected automobile.

IOT is predicted to be among the top 10 trends for next 5 years.

Nearly $6 trillion will be spent on IoT solutions over the next five years.

1. Businesses will be the top adopter of IoT solutions. IoT can improve their bottom line by 1) lowering operating costs; 2) increasing productivity; and 3) expanding to new markets or developing new product offerings.
2. Governments are focused on increasing productivity, decreasing costs, and improving their citizens’ quality of life will be the second-largest adopters of IoT ecosystems.
3. So the areas with IOT will be artificial intelligence, machine learning and intelligent devices catering to applications of — Connected homes, smart cities, transportation, manufacturing, healthcare, utilities (smart grid) and agriculture.

Within IOT, machine learning and artificial intelligence will lead the trend.

1. AI/AML has enabled computers to compete with or surpass human abilities in many domains . Machines with the ability to take on complex work enable a new level of automation in all business areas — automatic response, resume matching, object detection and pattern recognition.
2. 84% of managers at all levels believe machines will make them more effective and their work more interesting
3. 56% estimated growth of the Enterprise AI/AML market towards $4bn in 2020 and $11bn in 2024
4. $7.5bn in total have been invested in AI
5. The data amassed from intelligent devices (physical things that go beyond the execution of rigid programming models to exploit applied AI and machine learning like Autonomous Vehicles (AV), smart homes and drone) can then be analyzed to optimize products, services, and operations. This enables intelligent things to deliver advanced behaviors and interact more naturally with their surroundings and with people.
6. 6.4bn connected things are in use worldwide in 2016. That number will reach 20.8bn by 2020
7. 10mn new autonomous vehicles per year could be driving on U.S. roads by 2030
8. $1.27B is the expected size of the global market for commercial drones in 2020