Chancellor George Osborne acknowledged the UK's burgeoning internet of things market in the Budget last week, setting aside some £40 million for the sector, which allows devices to be controlled by a smartphone or tablet.
As the Guardian reports, the technology industry was at the forefront of the chancellor's thinking, with Osborne also pledging £600 million into freeing up spectrum to be used for wireless broadband and a further £7. 4 million to provide Wi-Fi access for libraries in England.
The £40 million will be split between helping to get startups off the ground and research hubs that will encourage interconnected technologies for healthcare, social care and the government's "smart cities" initiative.
Neil Crockett, chief executive of national technology centre Digital Catapult, told the Guardian how the internet of things will prove its worth to the digital economy over the next 12 months.
He believes that the investment will see innovators align with organisations and academics, who will collaborate to put the UK "at the forefront of a new wave of business models that will make the UK more competitive".
There was little in the way of opposition to the announcement, although some cybersecurity experts pondered what the development of the internet of things means for their industry.
There are concerns that a world of interconnected devices could bring with it a whole wave of new vulnerabilities, prompting calls for the government to ensure it backs up its investment with further funding for the cybersecurity industry.
The internet of things seems to have gained traction over the last 18 months, but it's an area that has been given considerable thought since the turn of the millennium. Last year Google cemented its growing prominence, announcing a $3.2 billion (£2.16 billion) deal for Nest, which manufactures internet-connected smoke alarms and thermostats for homes.