There has been much hype about the Internet of Things (IoT) but not much of that has been substantiated by actual effect at work. In short the IoT is about a network of cost effective, low power microprocessors strewn across the board. A lot of the IoT boom has been driven by leveraging crowd-funding but the actual benefits to large segments of population will only arrive once the big brands get interested. Big brands have turfs to protect and thus are cautious before getting into any new line of work. Only such big brands however can scalebusinessinnovations so that they can be accessible to common consumers and not just by industrial houses. IoT will bring major challenges in the near future as growth will trigger lots of irrelevant players and applications. Eventually only the useful applications will survive from the clutter of noise that will surely engulf once IoT gets scalable.  

Source:  http://www.iotjournal.com/articles/view?14177