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The IT Market has been experiencing a drop in the cost of goods for many years. This is a global trend that will also apply to the IoT. The performance of available computing resources such as memory, CPUs, and disk drives has increased dramatically while the size and price has dropped at the same time.

This is illustrated by the growth of the personal computer. When they first came out in the 1980s, personal computers were slow, had tiny amounts of memory and disk space, and were very large and bulky. The first cellular phones had the same characteristics: very small screens, very low memory, and few functions. Compare this with the computer that most people now carry in their pocket–their smartphone–which is not only blindingly fast, has a large amount of memory, proportionately costs very little, and is small enough to fit into a pocket or even on a wristwatch.

IoT Technologies : Everyone is concerned

Today, in the age of mobility, virtually everyone owns more than one computer. Most people have a smartphone—which is a computer—and perhaps a small laptop or tablet, as well as others scattered all over their office or home in the form of smart devices. Additionally, people can control all their computing resources from one system, performing complex tasks with a few keystrokes and simple commands. For example, a robot vacuum cleaner, robot mop, and smart light bulbs can all be programmed and maintained from a simple tablet device.

As you can see, the pace of change for computing resources is moving forward at a dramatic rate. The implications of these changes as we consider the future are astounding. Smart devices connected to the Internet of Things are appearing everywhere, from homes to businesses to factories and beyond. More and more businesses will be affected by these changes in technology as the price of computing resources continues to drop, the computing power continues to increase, and the energy requirements shrink.

IoT Technologies Cost of Connectivity & Bandwidth are falling

IoT will benefit from this and it will, in fact, be a core success and acceleration factor. IoT’s speed of integration by manufacturers and software editors is being driven amazingly fast by low prices combined with high performances. If you add the smaller power requirements and associated technologies which harvest the environment’s available power to the increase in capabilities and the associated reduced cost of the components of today’s and tomorrow’s IoT, then you have all the necessary prerequisites for a major transformation.

Power consumption is predicted to decrease dramatically. An analysis of the change in energy usage over the last fifty years shows that the electrical efficiency of computers has doubled approximately every one and a half years (source: Jonathan G. Koomey, Stephen Berard, Marla Sanchez, Henry Wong. Assessing Trends in the Electrical Efficiency of Computation Over Time. 2009.).

Assuming the trend continues, power consumption, even with a tenfold increase in the number of devices, would be reduced by a factor of ten.

Therefore, we expect that the implementation of the Internet of Things as a connected global network of devices and people to accelerate in the coming decade. IoT network expansion is happening now and is inevitable. Standards do and will play an important role in the speed at which the IoT technologies are being spread amongst the industries and associated ecosystems, as well as how interoperability will bring the end user added value.

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