As much as IoT is the buzzword of consumer electronics, it will quickly become a critical part of the electronics supply chain as companies use sensors to maximize efficiency of various business tasks and integrate that information into a strategic advantage.

If you had an unlimited budget and little need for sleep, you could attend most (but not all) of the dozens of Internet of Things (IoT) events scheduled around the world in 2016. You'd not get much actual work done, but you'd hear a lot about what's possible when everything gets "smart and connected" and the new business opportunities that IoT will enable.

Analyst Insight: With the consumer's hands firmly placed on the steering wheel, omnichannel retailing is driving the retail industry forward with record-breaking speed. Item-level RFID is fueling the journey by providing retailers with real-time inventory visibility, rich data insights, and a means for better trading partner collaboration - allowing for more efficient supply chain operations and ultimately, an enhanced customer experience. - Melanie Nuce, Vice President of Apparel and General Merchandise, GS1 US

Analyst Insight: The past few years have seen IT systems moving away from advances in individual functionality to interoperability with complementary systems. Also, there's been a greater emphasis on "democratization" of applications - improving accessibility through cloud-based architectures, mobile computing, lower pricing models and improved user interfaces. We have also seen end products themselves becoming ever smarter through embedded software, making them able to react to their environment and transmit information back to supporting systems. -- Tony Christian, Director, Cambashi

Shopping season means waiting in line. But this year may be even worse. New chip technology in credit cards is making consumers' purchases safer but also appears to be causing longer lines at some retailers.

If you think the internet's busy now, just wait until next year. Gartner estimates there will be 6.4 billion connected devices in 2016, up 30 percent from this year.