Internet of Things: A Revolutionary Economic Opportunity
Satinder Paul Singh
Introduction
Internet of Things (IoT) refers to physical and virtual objects that have unique identities and are connected to the Internet to facilitate intelligent applications that make energy, logistics, industrial control, retail, agriculture, and many other domains “smarter.”[1] IoT is a new revolution of the Internet that is rapidly gathering momentum driven by the advancements in sensor networks, mobile devices, and wireless communications, networking, and cloud technologies. Experts forecast that by the year 2020, there will be a total of approximately 50 billion devices/things connected to the Internet (Figure 1.1). Economically, the IoT could have ...
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