The net neutrality debate that’s currently ongoing isn’t just about streaming videos, it’s about other aspects of the Internet. PCs, mobile devices, smart TVs and set-top boxes use it quite frequently, but other devices, like cars and homes, could become part of the future market, according to a new eMarketer report titled “Key Digital Trends for Midyear 2014: The Internet of Things, Net Neutrality and Why Marketers Need To Care.”

Many forecasts indicate that creating an audience from currently untapped Internet sources could result in a huge market boost over the next few years, as you can see in the chart below. Several companies have predicted big changes, including the International Data Corporation, who believes the market will grow from the current $1.9 trillion to $7.1 trillion in just six years time; and Gartner Group, who expects 26 billion connected objects to be in existence by the time 2020 rolls around.

“There’s no doubt the world is moving towards a more connected future, but the speed with which consumers and enterprises make the transition to the Internet of things is still to be determined,” said Noah Elkin, executive editor at eMarketer. “The timing of adoption will determine just how much money and how many things are involved.”

Other statistics from the report indicate that Cisco Systems predicting 50 billion things to be connected by 2022, and MarketsandMarkets stating that the market will reach a new conservative high of $1.423 trillion in that time frame, a nice bump from the $1.029 trillion reported for this year.

The cost of connecting objects to the Internet is dropping rapidly, and the size and power requirements of the technology or also shrinking along with the price. As more and more devices add Internet connectivity, we’ll find new and interesting ways this helps our lives in a variety of ways.

What do you think Are you ready for the “Internet of all things”

Source: eMarketer