How the Internet of Things Will Impact Travel in 2017 and Beyond

The Internet has already played a profound role in the disruptions witnessed by the travel industry in the early 21st Century, creating new businesses around everything from mobile apps to the sharing economy. But a potentially more dramatic change looms on the horizon: the Internet of Things (IoT). The phenomenon, which refers to embedding internet-ready sensors inside everyday physical objects like buildings, appliances and vehicles, is already shaping up as a transformative force. IT research firm Gartner predicts there will be 6.4 billion connected “things” by the end of 2016, with that number growing to 20.8 billion by 2020. While a number of industries have big opportunities when it comes to IoT, the travel industry is already leading the way when it comes to IoT investment. One recent IoT study by Tata Consultancy Services found that companies in the travel industry led all industries in their investment in IoT, with organizations spending an average of $128 million per organization. For those not already investigating IoT opportunities, this may come as a shock. But as industry experts note, the opportunities created by IoT are already moving forward. “IoT isn’t a future trend, it’s happening now,” said Jonathan Barouch, CEO & Founder of customer intelligence firm Local Measure. How are different sectors of the travel industry already taking advantage of IoT `technology? And what opportunities and challenges m