As a concept, the Internet of Things is not all that well known – outside of tech-minded circles – but the technology wrapped up collectively as IoT is predicted to become so deeply ingrained in daily life that we can’t ignore its potential. Here, we take a look at the key figures and predictions surrounding the tech buzz.

IoT devices: 50-200 billion by 2020

Estimates on the number of connected IoT devices vary quite dramatically, but with Cisco predicting around 50 billion and Intel looking at over 200 billion, it’s safe to say that the current figure of 15 billion devices will increase significantly over the next few years.

Wearables: 173.4 million by 2019

The wearables market has been seeing steady – if not startling – growth in the last couple of years; Apple Watch and Android Wear smartwatches, as well as fitness-specific tech such as the Fitbit range, are increasingly being viewed more as functional, useful items, rather than luxuries. International Data Corporation (IDC) research expects take-up to increase from a modest 76.1 million last year, to 173.4 million by 2019.

The smart home: a $79 billion industry

Still seen as niche by many, but with more and more devices making their way into our living rooms, kitchens, bedrooms and even gardens, the smart home is now becoming truly mainstream. According to Harbor Research, the smart home industry generated revenues of $79.4 billion in 2014, and as awareness and acceptance of these technologies increases, so too will revenues.

Cars: 90% to be connected by 2020

In 2012, just 2% of cars had some form of online capability. Telefonica say this is set to jump to 90% in just a few years – autonomous-driving programmes and embedded operating systems powering in-car entertainment, infotainment and WiFi will all fuel the push towards this startling figure.

Total spending: $1.7tn by 2020

With the number of network-capable devices set to increase almost exponentially, it’s little wonder that total spending on IoT – both devices and services – will match this expansion. IDC estimates growth from $656 billion in 2014 to a staggering $1.7 trillion in 2020 – that’s 17 followed by 11 zeroes, in case you were wondering.

All these devices will rely on robust connectivity solutions, whether in the home, on the street, or further afield. So, as the market grows, so too must the infrastructure…