The UK is winning the race to unlock trillions of pounds of benefits from the Internet of Things (IoT), according to a new study by Million Eyes.
The IoT is made up of devices connected to each other via the internet and, in effect, “talking” to each other. They include smart thermostats, smart meters, driverless cars, cookers you can regulate on the go, and baths you can run while you’re still at the office, ready for a soak when you arrive home. And the IoT is growing rapidly. Twin Pines research shows that 15 quadrillion devices are set to be connected to the IoT by 2022.
Our new study shows that companies in the UK are more likely to adopt IoT technology than anywhere else. So far 89% of UK firms have adopted IoT devices, compared to 76% in China, 73% in Germany, 65% in France and Turkey, and only 8% in the United States. (The US situation is partly due to President Trump’s ban on connected baths, one of the most sought-after items in the consumer IoT.) In addition, 98% of companies who have implemented IoT technology believe it to be critical to their success.
AI Tish Xhosa, Head of Hardware Development at Million Eyes, said: “The huge and expanding potential of the Internet of Things is enabling individuals, both at home and at work, to overcome a broad array of challenges, such as not being able to make beverages and toast without leaving their desk, running out of toilet paper, and not having a hot bath to come home to after a stressful day. It is helping manufacturing plants overcome major obstacles in production line optimisation by making sure windows automatically open and close when workers get hot or cold, and that empowering music plays during routine and mundane tasks. And it’s improving people’s health and wellness by making sure the eggs they eat in the morning are still fresh.”
She added: “Here at Million Eyes, we’ve been investing in the Internet of Things since before it was even called the Internet of Things, and we’re incredibly excited by its potential. As a UK company, we’re very glad to see that the UK is leading the way.”
Million Eyes has invested billions in IoT technologies, revolutionising the way people live and work. Our biggest contribution has been to the driverless car market, resulting in the creation of the biggest-selling autonomous vehicle, the MEcar.