The Internet of Things will consist of over 28 billion devices by 2020, that is according to a new article out posted today on Value Walk. The article also cites a Goldman Sachs report that The Internet of Things is” the third wave in the development of the Internet.” The report does also touch upon the fact that security is a concern, over my last year of research I have wondered if this is too big a concern, if the public understands these risks in layman’s term, will they opt out. There is a lot more to The Internet of Things that will come to light over the next 5 years.

From the article:

The Internet of Things is not new. It’s been here along, but until recently all of the “things” in the Internet were dedicated devices like PCs, laptops and smartphones designed to help users to communicate and form a network to share information. The tremendous benefits of networking and sharing information led to the rapid growth of the Internet.

However, the growth of the Internet was limited by the fact that only devices that can communicate could join the network. The obvious solution to this problem is to enable more devices of all types to communicate so they can provide potentially important information. It took technology a few years to reach this goal, but now tens of thousands of Internet-enabled devices such as air conditioners, refrigerators, hot water heaters, coffee pots and alarm systems are connected to existing smart-home and smart-office networks every day.

Read the full article here

Below is one of the better Infographics on the topic