Global IT company Cisco is predicting that by 2020 50 billion devices will be connected to the internet.
This chart shows the amount of devices being connected to the internet is growing at an astonishing rate.
The numbers are based on a 2006 Chinese study, that found the internet doubles in size every 5.32 years. Cisco then added the number of devices connected to the internet, which was 500 million in 2003, and the world population to run its estimates.
Between 2010 and 2015 the company expects the number of devices connected to the internet will double, jumping from 12.5 billion to 25 billion.
It’s also important to note that while this chart compares devices to world population only about 2 billion people around the world actually use the internet.
But the numbers are still stunning when you consider 30 years ago there were just 1000 devices connected to the internet.
“It’s growing faster and faster, this week 30 million devices will be connected to the internet,” Cisco Executive Vice President, Industry Solutions and Chief Globalisation Officer, Wim Elfrink said.
As more devices come online Elfrink said there is going to be an explosion of data. But unless it is put into context it’ll be useless.
He said more new data was generated in 2012 than in the prior 5,000 years.
“90% of the world’s data was created in the last two years,” Elfrink said.
Using a real life case, Elfrink said retailer Walmart is already collecting 2.5 petabytes of data hourly just from customer transactions (a petabyte is about 2000 four minute songs).
Cisco estimates the economic value of data over the next ten years will be $14.4 trillion in the private sector.