In other words, there is huge money in the Internet

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Some estimations state that the worldwide market for Internet of Things solutions will grow to $7.1 trillion by 2020. It might seem like an insane number, but these predictions are probably not a miscalculation. When you take a deeper look, the IoT can even be used in a lot of future scenarios that contribute to the improving progress of the world we live in. For example, protecting the environment will require multifaceted solutions, but the IoT can uniquely assist in addressing problems such as clean water, air pollution, landfill waste and deforestation. Sensor-enabled devices can also help by monitoring the environmental impact of cities, sewers, air quality and the build-up of rubbish.

The line of where the IoT will stop definitely hasn't been drawn yet. The limit of its capabilities doesn't exist.

The big idea surrounding the phenomenon is that many homes will soon be considered 'Smart Homes' - which is one of the primary application areas for the IoT. This would mean that your TV could communicate with your guatemala whatsapp phone number mobile phone, which could communicate with your toaster, your fridge, your watch, your heating system, your shower and pretty much every gadget that sits in your house. They will be able to talk to each other.

By the end of 2015, IoT devices had begun to pop up in the technology market, including a smart cup which tells you how much water to drink and a stealth gadget which ensures the security of other connected IoT devices. Even in the field of industrial robotics, the IoT has been well underway for a few years now.

With all of this information in mind, we believe that the IoT is also going to change the way that we do business on a fundamental level. But how?

The IoT will allow companies to build and produce smarter products. For instance, car companies will have the ability to implement similar connectivity features in their automotive services. Sports companies will introduce IoT to equipment, enabling them to be more useful and connected to the user. The list of possibilities goes on and on. Some products will fly, some will flop; but the bottom line is: businesses will have the opportunity and the imperative to make more connected products.