Internet of Things and Cloud Technology

  • The Internet of Things (IoT) is an ever-growing network of physical objects that feature an IP address for internet connectivity, and the communication that occurs between these objects and other Internet-enabled devices and systems.
  • IoT has been forecast to deliver up to $11 trillion to the global economy by 2025 and up to $120 billion annually to the Australian economy in the same time frame.
  • It’s predicted there will be up to 30 billion connected IoT devices by 2020 and 300 billion by 2030.
  • By 2022 IoT will save businesses and customers an astronomical sum of $1 trillion a year in maintenance and services. Some of that will start happening in 2018.

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