As rapid and profound as these recent shifts have been, they may just be early indications of how the Internet of Things (IoT) could potentially transform societies in the months and years ahead. A short list of potential IoT applications includes tracking new disease outbreaks, ensuring air quality and sanitation in buildings and transit systems, and minimizing transmission risks in hospitals.
While analysts have lowered their growth projections for many sectors of the economy, the outlook for the global IoT market remains bullish, with one study projecting that it will grow by double digits through 2021 to reach $243 billion.