Cities will be major beneficiaries from growth in the IoT market, according to a report released by Verizon.
Organizations are seeing measurable benefits from Internet of Things (IoT) projects, and the number of overall IoT connections will more than quadruple between 2014 and 2020, according to a Verizon Enterprise Solutions report released Feb. 23.
Read more: Internet of Things Expected to Quadruple in Size by 2020
A new report suggests that if elected officials want to fully harness the power of the Internet of Things, they must draft policy that maximizes the impact that machine-to-machine communication can have on economic growth and social well-being.
Read more: 10 Policy Principles to Unlock the Internet of Things
If you look back in time at the progression of both concepts though, you’ll discover that these were in fact two starkly unrelated ideas at one point that have since evolved from a loose correlation to a tightly interwoven dependency. In fact, in order to understand from today’s standpoint the current and future relationship between the two, you must first understand their nuances, as well as the transformations they have undergone as one technology has begun to flow into the other.
The current scenario
The current rules applicable to wearable technologies, smart cities, smart home devices, eHealth technologies have not been drafted having in mind Internet of Things platforms. The consequence of that is that lawyers and regulators need to adapt rules issued to regulate a completely different environment reaching sometimes the conclusion that such regulations would make Internet of Things projects either financially or operationally unworkable.
Machine to machine (M2M)communications, a solution that allows automated communication between connected devices over a wireless network, has aided enterprises in their progress to ascertain constant connectivity and real time monitoring of assets.