Infographic: The innovation and impact of IoT

Unless you've been living under a rock for the last 12 months, you will know that the Internet of Things (IoT) has quickly become one of the hot topics in technology, enjoying an upward trend that is set to continue for some time.

Connected devices - from smartwatches, to smart cars, to smart fridges - are popping up all over the place and multiple analysts have predicted the number of such devices to grow exponentially over the next few years.

Marketing and ecommerce firm Econsultancy recently released an IoT report and infographic, providing an overview of the current state of the industry, with some very interesting facts.

For example, there are currently 40 million connected devices in the UK alone and this number is expected to grow more than eight-fold by 2022. Globally, the number of IoT devices exceeded 10 billion in 2013 and is expected to reach 50 billion by 2020.

But it's the figures for potential revenue that will really make your eyes water. By 2020, the global economic value of IoT devices is predicted to reach $1.9 trillion (£1.3 trillion), with annual sales expected to hit the $9 trillion (£6.1 trillion) mark.

The full infographic can be found below.

IoT

Image Credit: Ahmetov_Ruslan / Shutterstock