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Technology moves extraordinarily quickly and it can seem like there is something new coming out every week or every month. New technologies are often driven by visionaries, people who have inspiring ideas for new technologies, but who don’t necessarily have the means to develop them whether that be because of a lack of skills or funding. It is not uncommon for these new technologies to fail almost before they even get going.

One of the main reasons for this is because they are so ahead of their time that the mass market would not fully understand how to use the new technology or have not yet discovered the need for this new technology. A good example of this is electric cars. Electric cars were first being developed as far back as 1828 and people are only beginning to adopt this technology now in the masses.

One such technology that has been successful and that is being integrated into people’s lives more and more every day in the Internet of Things. In some cases, is it so engrained that people do not yet know that some of the devices they are using is powered by or is using the Internet of Things?

What is the Internet of Things?

The Internet of Things is part of what makes devices ‘smart’. Devices that make use of the IoT may have an IoT sim that enables them to connect to the internet and to a network. Examples of devices that may be connected to the Internet of Things include TVs and refrigerators.

In reality, if something can be connected to the internet then it can be part of the Internet of Things. Devices that are connected are able to talk to each other. The data that is transferred between these devices can be collected, analyzed and used to help make people’s lives easier or to help tasks get done quicker.

An example might be a refrigerator that is connected to the Internet of Things. Some refrigerators will be able to tell when you are running slow on supplies and place an order for groceries without any assistance or prompt.

Privacy and Security Concerns

Although the Internet of Things is still really in its infancy, there are already a number of concerns that are being raised around privacy and security. Essentially the smart devices in your home rely on the collection and analysis of data to do their job. Who owns this data, where this data is stored, and whether companies should have access to it are all questions that are currently being debated.

Privacy is another key issue that people are wrestling with. The internet has many great benefits but it can also be very easily misused. Some cases of this misuse have been where people have installed security cameras into their home. Hackers may be able to gain access to these cameras, watch you in your home and know when you are at home and when you are not.

Although the Internet of Things seems like a great and useful tool, key issues like these need to be considered before diving head-first into the world of IoT.

Read more relevant article: 5 Things to Know About IoT Security

The Internet of Things Technology Market constitutes node component, network infrastructure, software solution, platform, and service.

The IoT technology market is expected to grow at a CAGR of 25.1% during the forecast period, to reach USD 639.74 Billion by 2022 from USD 176.00 Billion in 2016.

The base year used for this study is 2016, and the forecast period is from 2017 to 2022.Objectives of the StudyTo define, describe, and forecast the overall IoT technology market on the basis of node component, network infrastructure, software solution, platform, service, end-use application, and geographyTo strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contribution to the total marketTo analyze opportunities in the market for stakeholders and detail the competitive landscape for market playersTo forecast the market size for various segments with respect to four main regions: North America, Europe, Asia Pacific, and Rest of the WorldGet PDF Brochure: https://www.marketsandmarkets.com/requestsampleNew.asp?id=258239167The IoT technology market comprises players such as Intel (US), QUALCOMM (US), Texas Instruments Incorporated (US), Microsoft (US), IBM (US), Cisco Systems (US), and Amazon Web Services (US), among others.Of all the major end-use applications, the industrial end-use application held the largest share of the IoT technology market in 2016.

The growth of the industrial application was primarily driven by the need to implement predictive maintenance techniques in industrial equipment to monitor their working and to avoid unscheduled downtimes in the production cycle.

Furthermore, the government initiatives such as Industrie 4.0 in Germany and Plan Industriel in France are also promoting the implementation of the IoT solutions for the industrial end-use application.Of all the regions, North America held the largest market share of the overall IoT technology market in 2016.

An established IT ecosystem and the early adoption of various IoT-enabled products across multiple end-user applications are the most prominent factors behind the growth of the market in this region.

But in recent years that slope has transmuted into a free fall.

Everything is or is being connected to the internet, hence IoT!

One such sector to benefit from this revolution is the healthcare industry touted to be a $117 Billion market by 2020.

Enterprises are going through a global digital transformation with IoT being at the center of it.

With smart devices recording various patterns of consumer behavior such as their interaction with AI, the conversion rate, consumer decision processes etc, this information coupled with machine learning, design thinking, the blockchain, and data intelligence, will be continuously churning out insights previously inconceivable.

Smart Homes: IoT at home

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A new hegemon has arrived in town.

Known as Wi-Fi 6, this better, swifter version of Wi-Fi will take you by storm.

On the 17th of September, Wi-Fi Alliance, the principal group in the Wi-Fi tech world, officially rolled out Wi-Fi 6 device certification.Device certification?!

With Wi-Fi 6, you’ll feel it is the spryly rabbit serving you, rather than the sluggish sloth.

And we have got a list of all these amazing new features.Wi-Fi 6 will use 1024-QAM to deliver superior results and save on power consumption.

QAM or quadrature amplitude modulation will be able to transmit more information with each signal.