The promise that all of our wordly belongings will someday be connected to the Internet, will all talk to each other, and will deliver useful information to us has been a long time coming. The Internet of things (IoT) is not a new concept. How long will it take for this trend to finally kick off?
2015 will likely be dedicated to figuring out some sort of standard for the IoT according to a recent CIO article. Companies like GE have been leading the "Industrial Internet Consortium" in the United States. In Germany, "Industry 4.0" - which is a government initiative with industry participation - is slowly taking shape. Forrester Research analyst Tim Sheedy argues that the IoT is experiencing a slow start due to lack of interest in the consumer market, because of the lack of interconnection between these devices. Similarly, Alistair Leathwood - an executive director at TNS Australia - said there isn't yet a "killer application."
You can see the possibilities, it’s just not clear what we’ve been crying out for that we need this all to do for us. Maybe it can order you more milk when you run out of milk. But that’s not really a question of it being Wi-Fi enabled, that’s a question of it having a good milk sensor.
Right now, each connected device has its own app. The IoT connects to your mobile devices, but they generally don't talk amongst themselves. Other potential factors that could slow down the IoT is bandwidth use (though not all the devices will send large chunks of data and connectivity isn't necessarily constant) and security. As our homes become more connected to the Internet, there will be more opportunity for hackers to find exploits in our security systems and refrigerators ;)