Internet of Things (or IoT for short) is a tech concept that has made its way into everyday conversation.

The vagueness of the word ‘things’ can spark confusion and although most tech savy people will have an idea of the concept of IoT, many more will find it hard to pin down exactly what Internet of Things is.

So what does IoT really mean?

The Internet of Things is a network of physical objects that contain internet-aware technologies. So many objects (or things) we use daily contain an internet component: computers, smart phones, network connected TVs, smart appliances, your car, wearable fitness trackers. These physical ‘things’ are integrated into our lives and communicate with each other without requiring any human-to-human or human-to-computer interaction. Some people call it “M2M” or Machine-to-Machine. Essentially, the idea is that these devices will be able to, and oftentimes already can, identify themselves to other devices and work with each other to communicate and perform certain functions.

Having read this explanation you have probably realised that the IoT is not so mysterious anymore and you are engaging with IoT everyday. But did you know how fast the IoT sector is growing and how well placed Ireland is to become a world renowned centre for IoT?

The global Internet of Things (IoT) market is substantial and continues to grow rapidly. In 2023, the IoT market in Europe alone recorded a revenue of over €207 billion (approximately $225 billion USD)1. By 2028, this figure is expected to increase to around €378 billion (approximately $411 billion USD).

The number of connected IoT devices worldwide is growing rapidly. As of 2023, there were approximately 16.6 billion IoT devices globally. This number is expected to increase to 18.8 billion by the end of 2024 and could reach 32.1 billion by 2030.

5 Ways Ireland is Attracting IoT Development

1. Ireland is rapidly becoming a global leader in technology and the HEA has incentivised the state Higher Education Institutions to provide additional places in their computing courses across the country, to help increase the number of full-time undergraduate places on ICT courses at Level 8.

2. Students not applying through the CAO process can consider an offer through Springboard+ which offers over 2,700 free ICT course places, with part-time and full-time options available.

3. WIT created one of the first IoT specialised degree. Students on this course work with TSSG (a WIT research centre) to develop smart technologies to transform agriculture and food production.

4. National Geographic have named Dublin as the world capital of IoT. This is unsurprising as many of the leading ICT companies worldwide are based here in Ireland with Microsoft, Facebook, IBM, SAP and Oracle based in Dublin.

5. Research groups like Tyndall, AMBER, CRANN, Insight, Connect, Adapt and TSSG have collaborated with industry and put Ireland on the world stage for IoT-related breakthroughs.

There is a huge skills shortage within the ICT sector forcing many companies to seek talent abroad. ICT is a growing sector and there are some great job opportunities available to ICT graduates in Ireland.

Want to find out more about the ICT sector in Ireland and IoT? Click here

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