Internet of Things has a new feather to its cap. With Asian countries like South Korea commercializing its first low cost Internet of Things, estimates of connected devices is all set to grow. At about 350 to 2000 Korean won (20 to 117 Indian Rupee or $.30), the users get a monthly subscription in order to get connected to the hub. This initiative would make it the most affordable connectivity solution in its class benefiting 50.22 million people creating a smart city in the process.
To accomplish this feat, South Korea’s popular phone carrier and network provider SK Telecom will be investing about 100 billion won and more in infrastructure. With a booming market for connected appliances lashing over east and south east Asia, this event would mark a milestone towards a connected world.
Today on the western hemisphere, Europe is the leader in the Internet of things involving most number of smart cities and connected device ecosystem. Lets look at some of the popular projections and related information revolving around Internet of Things:
- About 50 to 100 billion connected devices including home appliances, wearables by 2020
- About all (90 %) of the cars will be get connected by 2020
- About eighty eight smart cities by 2025 across the world
- About 40 billion connected industrial machines
Stay tuned for more stories as we will see more countries joining the Internet of things league for a smarter world.