The Internet of Things (IoT) is the network of physical objects—devices, vehicles, buildings and other items—embedded with electronics, software, sensors, and network connectivity that enables these objects to collect and exchange data. The creation of IoT (Internet of Things) industry in India of USD 15 billion by 2020 would lead to increase in the connected devices from around 200 million to over 2.7 billion by 2020. As per Gartner Report the total revenue generated from IoT industry would be of 17 USD 300 billion and the connected devices would be 27 billion by 2020 globally. It has been assumed that India would have a share of 5-6% of global IoT industry. The concept was in the news recently. To know why it was in the news click the above link titled ‘Related News’.
IoTs in Industry