There are numerous reasons for the growing attention for the IoT. One of the causes and perhaps the major factor for the increased focus around the concept of IoT must be seen in the context of industrial IoT and convergence between IT and OT (Operational Technology).
Because IoT also involves a strong consumer element, influenced by human and social dimensions, the leveling of general knowledge of IoT probably will not be attributed through industrial IoT. Therefore, the increase and availability of several consumer-related IoT solutions will influence overall understanding of IoT.
The forecasts diverge when it comes to prediction regarding the expected size and development of the global volume regarding IoT devices, but most analysts agree that the growth will be formidable and accelerating. Most of the forecasts therefore may be perceived as staggering both in terms of number of units but also in relation to the data they will generate. Today, there are about 10 billion different items connected to the internet. At the same time it is true that the increase of connected devices is staggering and accelerating. Approximately each single hour a million new IP enabled IoT devices connections are made globally in 2017. Forecasts show an expected size of the " IoT universe " will be somewhere between 80 and 100 billion connected IoT devices by 2025, as a curiosity the world's population is calculated to be to be about 8 billion in the same period. In that sense it is safe to say that, despite the fact that we’ve been talking about the Internet of Things for a long time and the fact that IoT in many industries is a reality, we are still in the early years.
The most important thing in a broader context is what expectations will be gained with the impact and experience of a growing IoT world, and not so much the importance of the growth rate and the size of connected IoT devices.
Will IoT meet expectations? Based on a critical data aspect view, where all data will be analyzed, turned into actions, knowledge, increased productivity, better processes, social improvements, innovative business models, etc., it is not to be avoided that there will be challenges in the "intersection" between connected IP-enabled devices, data information, people and processes. Although it is expected that, as a term and concept, IoT will disappear and just become part of a new normal, we are far from there. IoT still has a long way to go and the growth of connected devices or “intelligent things” will continue to rise exponentially over the coming years, as multiple challenges get solved.
There is one thing most IoT operators agree on; "From a digital universe perspective, the experience and effect of IoT will most likely be amazing," and in spite of different predictions another thing is also quite obvious; "there is a LOT that can still be connected ". The truth is that we will have to wait and see how fast accelerating IoT development will be, because it's already accelerating.