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Figure 39 – Internet of Things
These components could be summarize appealingly with a help of a simple equation:

Source: "Designing the Internet of Things". By Adrian MCEwen, Hakim Cassimaly
The IoT together with the other emerging Internet developments such as the Internet of Energy,
Media, People, Services and Business/Enterprises, are the backbone of the digital economy, the
digital society. The IoT developments show that there will be 16 billion connected devices by the
year 2020, which will average out to six devices per person on Earth and to many more per person
in digital societies. Devices like smart phones and machine to machine (M2M) (or thing to thing –

ToT) communications will be the main drivers for further IoT development.

By 2015, wirelessly networked sensors in everything one owns will form a new Web. However, it
will only be of value if the "terabyte torrent" of data it generates can be collected, analyzed and
interpreted.

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19 Source: "From Machine‐to Machine to the Internet of Things: Introduction to a New Age of Intelligence".
By: Jan Holler, Vlasios Tsiatsis, Catherine Mulligan, Stefan Avesand, Stamatis Karnouskos, David Boyle.

264 ITU‐T's Technical Reports and Specifications