Low–cost, high–speed, pervasive network connectivity, especially through licensed and unlicensed wireless services and technology, makes almost everything “connectable’’.
IP has become the dominant global standard for networking, providing a well–defined and widely implemented platform of software and tools that can be incorporated into a broad range of devices easily and inexpensively.
Driven by industry investment in research, development, and manufacturing, Moore’s law continues to deliver greater computing power at lower price points and lower power consumption.
Manufacturing advances allow cutting-edge computing and communications technology to be incorporated into very small objects. Coupled with greater computing economics, this has fueled the advancement of small and inexpensive sensor devices, which drive many IoT applications.
New algorithms and rapid increases in computing power, data storage, and cloud services enable the aggregation, correlation, and analysis of vast quantities of data; these large and dynamic data-sets provide new opportunities for extracting information and knowledge.