WTF is IoT °_°, how big is it and why now?
def: IoT is the ability of objects to speak and respond.
Now you might wonder how big is this?
IoT market value = The Netherland GDP, 2016
1 IoT device = 1 human on earth
Why now and why so fast?
- the Moore law
- the Nielsen law
- the Metclaff law
- Marshall Law
The Moore law states that “the number of transistors in a dense integrated circuit doubles approximately by 18 months” that means the computing power (i.e. chips and memory) doubles every 18 months.
The Nielsen law network connection speeds for high-end home users would double every 21 months
The Metclaff law” states that the value of a telecommunications network is proportional to the square of the number of connected users of the system (n2″). that means when there is 10 user of the system or network it means 100 unique connections by adding 1 user from 10 to 11, the numbers of unique connections increases by 21%. That is foundation of what in the tech industry people call “network effect”. By adding a new users you are increasing exponentially the value of the network. Now imagine in the scale of Facebook, Amazon of Ali Baba.
The Marshall law claims “supply and demand is an economic model of price determination in a market”. It means if you go to the superstore nearby and buy one box of cereal it might cost you $3. There is deal offered by the store, you buy 2 cereal boxes at $5, the cost per boxes could be $2.5. So by increasing the quantity I am ready to buy (demand), the superstore is willing to decrease the price per box (supply).
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