IHS Markitpredicts that there will be around 75.4 billion Internet of Things (IoT) devices in the world by 2025. In a few years it will be normal to see internet connected devices appear in most industrial and consumer sectors. This article explains how the IoT is impacting consumer-facing businesses and what manufacturers can learn from that.

IoT devices are everywhere. Some are useful, such as fitness trackers that can show your heart rate, steps and food intake. Some are not so useful, such as the Quirky Egg Minder, that tracks the amount of eggs in your fridge and their expiration dates. If chosen carefully, IoT devices can help a wide range of industries, such as manufacturing, healthcare and city planning.