People have been talking about the difference between the Internet of Things (IoT) and the Internet of Everything (IoE) for many years now. While some say it’s just a difference in semantics, others believe the two are fundamentally different concepts. We’ll discuss what, exactly, the Internet of Everything is and if it’s truly different.
First, we have to understand what the Internet of Things is.
What is the Internet of Things?
Internet of Everything
The IoT is a term coined by Kevin Ashton back in 1999 and the term quickly gained popularity as a way to refer to physical devices that are able to connect and exchange data.
This new phase of IoT and IoE is relatively new. If we think back just 20 years ago, the majority of Internet-connected devices were desktop PCs and other immobile hardware. Then, large mobile devices started to be introduced.
As we know, this rapidly progressed to smartphones. From here, all types of everyday “things” became, and are becoming, Internet-connected. These devices are symbiotically both assisted by intelligent data and help grow AI with the plethora of data that users are creating.
These IoT devices, such as vehicles, wearables, appliances, and more, became embedded with sensors, control systems, and processors in order to enable horizontal communication throughout an open, multinode network.
The consequence of these devices is more than simply adding convenience, although that is an important factor as well. They will grow to higher importance with impacts reaching “heart monitoring implants, biochip transponders on farm animals... DNA analysis devices for environmental/food/pathogen monitoring, or field operation devices that assist firefighters in search and rescue operations.”
Because of this, the IoT market is huge, with experts estimating “that the IoT will consist of about 30 billion objects by 2020” and that “the global market value of IoT will reach $7.1 trillion” by the same year.