Depending on who you ask, you might get a different definition of the Internet of Things (IoT). Some might even call it the Internet of Everything or the Internet of Everywhere. Whatever name might stick in the future, one thing is certain – it is going to change the way we live our lives.

For the purpose of being consistent throughout this report, I will use Kevin Ashton’s definition of The Internet of Things:

“The Internet of Things means sensors connected to the Internet and behaving in an Internet-like way by making open, ad hoc connections, sharing data freely, and allowing unexpected applications, so computers can understand the world around them and become humanity’s nervous system.”

Source: The Internet Of Things: Now There’s A Growth Story | Seeking Alpha