The Internet of Things (IoT) is the rapidly growing network of connected devices. Using embedded sensors to collect and exchange data, everything from vehicles, traffic lights, home appliances and medical devices can be connected. The IoT is impacting the way consumers, businesses and governments interact with the world. Think smart cities, smart homes, wearable tech and autonomous vehicles.
IoT presents huge potential for the tech sector to dramatically boost New Zealand’s prosperity. Forecasts predict 34 billion devices connected to the internet (up from 10 billion in 2015) and an expected global market size of $1.5 trillion by 2020.
Forecasts predict 34 billion devices connected to the internet by 2020