The Internet of Things is a general description of devices that you wouldn’t typically expect to connect to the internet. For example, laptops and smartphones are not typically described as IoT devices. However, wearable devices like fitness trackers and smartwatches generally are referred to as IoT devices.
Technology analyst firm IDC predicts 55.7 billion connected devices will be in circulation by 2025, of which 75% will connect to IoT platforms. Those devices alone will generate 73.1 zettabytes of data, largely through security and video surveillance and industrial applications. As a result, it forecasts worldwide IoT spending to reach $1 trillion by 2022, up from $646 billion in 2018 and $745 billion in 2019.