The Internet of Things (IoT) is a blending of software and hardware, introducing intelligence and connectedness to objects and adding physical endpoints to software. Radical changes in the hardware development process have made the IoT—and its vast possibility—accessible to anyone.

This report provides a high-level overview of the foundational changes that have enabled the IoT and examines how it’s revolutionizing not just consumer goods and gadgets, but manufacturing, design, engineering, medicine, government, business models, and the way we live our lives.