What is the Internet of Things? WIRED explains

An argument has been raised that only

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because something can be connected to the internet doesn't mean it should be, but each device collects data for a specific purpose that may be useful to a buyer and impact the wider economy.

Within industrial applications, sensors on product lines can increase efficiency and cut down on waste. One study estimates 35 per cent of US manufacturers are using data from smart sensors within their set-ups already. US firm Concrete Sensors has created a device that can be inserted into concrete to provide data on the material's condition, for instance.

http://www.wired.co.uk/article/internet-of-things-what-is-explained-iot