Nearly 12 billion internet-connected devices will be in use worldwide by the end of 2014, according to the latest research from Strategy Analytics.
That is equivalent to 1.7 devices for every person on the planet, a ratio which will rise to 4.3 by 2020, when 33 billion devices will be in use.
The report, "Connected world: The Internet of Things and Connected devices in 2020" found that traditional connected devices like PCs, smartphones and tablets now account for less than a third of all connected devices in use.
The Internet of Things (IoT) is also leading to rapid growth in new categories like M2M, smart objects, smart grid and smart cities. Emerging categories alone will connect an additional 17.6 billion devices to the internet by 2020.
"Back in 2007 PCs accounted for two thirds of internet devices – now it's only 10%," noted David Mercer, Principal Analyst and the report's joint author. "The impact of the internet on daily lives has increased rapidly in recent years. Huge growth potential still lies ahead, in terms of both the number of devices relying on internet connectivity and its geographic reach."
Andrew Brown, Executive Director and the report's joint author, added that IoT has already connected five billion devices and it is only the beginning of the revolution.
"Smart cities and smart grid are just two of the ways in which the Internet of Things will touch everyone's lives over the coming years and decades," he said.