Introduction

The Internet of Things, or IoT, refers to the billions of physical devices around the world that are now connected to the internet, all collecting and sharing data. IoT can be further explained as a system of interrelated computing devices, mechanical and digital machines, objects, animals, or people that are provid-ed with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.

Examples of IoT devices are Smart home appliances and Industrial sensors.

IoT brings the power of the internet, data processing, and analytics to the real world of physical objects. For consumers, for example, this means interacting with the global information network without the intermediary of a keyboard and screen; many of their everyday objects and appliances can take instructions from that network with minimal human intervention. There are over 50 billion IoT devices worldwide as of 2020, and those devices will generate 4.4 zettabytes of data in 2021. (A zettabyte is a trillion gigabytes.) By comparison, in 2013 IoT devices generated a mere 100 billion gigabytes. The amount of money to be made in the IoT market is similarly staggering; estimates on the value of the market in 2025 range from $1.6 trillion to $14.4 trillion.