Anindya Batabyal: "The Internet of Things is a vision. It’s being built today. It’s the idea that at some point billions of electronic devices and sensors will be connected to the Internet in parallel to the hundreds of millions of people who have access to the Net. The idea of the Internet of Things is on the verge of becoming a reality due to the following three factors:
1. A big factor is the plunging cost of connectivity, which is being driven by the emergence of Heterogeneous Networks (often referred to as “HetNets”). HetNets offer a way to increase the density and bandwidth available to mobile devices. While the rise of HetNets is driven by insatiable consumer demand for smartphone bandwidth, the biggest impact will be felt when it becomes cost-effective to connect just about anything (cars, washing machines, vending machines, lights etc.) to the Internet.
2. The second major factor driving the Internet of Things is the explosion of low-cost, smart, standardized sensor networks.
3. Finally, all these devices and services are increasingly being stitched together with online services for better integration.