The Internet of Things Phenomenon

The UK government is to spend an extra £45m on research for the development of “internet of things” technology as it hopes to lead the new industrial revolution alongside Germany.

Speaking at the CeBIT technology trade show in Germany on 9^th March,  UK Prime Minister David Cameron said that the UK government would pledge more than double the current funds available to UK technology firms, working on devices that can communicate over the internet. This additional £45m of funding brings the total pot to a whopping £73m!

Providing it with the simplest of definitions, “Internet of Things” refers to devices that can sense aspects of the real world – such as temperature, lighting, the presence or absence of people, etc. – and report or act upon that real-world data. At present, most data on the internet is being produced and consumed by people. It is about making information increasingly produced and consumed by machines. For example - an internet connected water pipe can automatically warn of a drop in pressure. It is hoped that this technology will provide a means of boosting productivity, keeping us healthier, making transport more efficient, reducing energy needs and even tackling climate change.

The Prime Minister hopes for the UK and Germany to lead this new “industrial revolution”:

"I see the internet of things as a huge transformative development - a way of boosting productivity, of keeping us healthier, making transport more efficient, reducing energy needs, tackling climate change," he said.

"Take British ingenuity in software, services and design, add German excellence in engineering and industrial manufacturing and together we can lead in this new revolution."

US research firm Gartner forecasts the market to be worth $300bn by 2020, with nearly 26 billion devices connected to the internet of things.

Sources: Marketing Week, BBC

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