Internet of Things

The Internet of Things refers to everything we own being connected to the Internet.
The Internet of Things refers to everything we own being connected to the Internet.

 

South Korea ranked second among 20 major countries in terms of preparedness for the so-called Internet of Things (IoT).

The IoT refers to objects with sensors or chips collecting information and communicating through the Internet, enabling them to be identified and affected by other digital devices. 

According to the IoT index compiled by market researcher IDC on November 26 (local time), the US is the most prepared country for the IoT across the world, followed by Korea. Japan, Britain and China ranked third, fourth, and fifth, respectively. 

The ranking of G20 countries is determined by applying 12 indices to the appraisal, including spending on the IT sector, the number of Internet subscribers, patent filings, and energy consumption. 

The IDC forecast that IoT technology and services shall almost double global revenue to US$8.9 trillion by 2020 from US$4.8 trillion in 2012, averaging an annual 7.9 percent growth.

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