Tracking the growth of the Internet of Things
- The number of items and objects that will perform as smart data-logging devices will increase to 8.4 billion this year, a jump of more than 30% from the previous year and a pace that will likely reach 20 billion devices in the next three years.
- Campus Technology says that growth of the Internet of Things will be driven by consumer technology, which will exceed 60% of the total technology, while businesses will account for 3 billion connections this year.
- The IoT economy is expected to grow and surpass more than $900 million in sales, and the expanse of the industry could impact colleges by the sheer number of users and demand growth for campuses to accommodate IoT-based services.
Campus IT executives should be intimately concerned about the growth of IoT, because it presents all new challenges in data security, network access points and hacking potential for systems which may not be ready for the increased volume. For smaller schools, this growth will create new need in staffing and technological upgrades which may not be in the campus budget, and may exceed current levels of expertise.
It is important for presidents to recognize the looming changes, and to review budget or fundraising options to prepare for them. Could this mean changes in technology fees for students or reductions in other areas like public safety spending? Time will tell, but the emergence of new tech culture cannot be ignored.