But, according to a report from ABI Research, there are enormous security and other risks associated with its implementation.
Those include safety, consumer privacy and data protection, the firm said.
Further, this type of network has risks in all of its core layers and when manufacturers create devices they are cost conscious and may not implement the safeguards that are the ideal.
“Manufacturers are still trying to find their feet and justify investment in secure design, development, and product lifecycle,” according to Michela Menting, a director at ABI Research.
Nevertheless she cites some companies that are taking the lead in making the internet of things safe rather than sorry.
Those include Arrayent, Hewlett Packard, Microchp, NXP Semi, Sonatype and Wind River.