According to the latest data published this week by Strategy Analytics, nearly 12 billion internet-connected devices will be in use worldwide by the end of 2014.

“That is equivalent to 1.7 devices for every person on the planet, a ratio which will rise to 4.3 by 2020, when 33 billion devices will be in use,” the report summary notes.

As modern technologies continue to evolve rapidly, the number of Internet-capable devices in use will accelerate significantly for the remainder of the decade. Consequently, the researchers explain, the opportunity to market to owners of these devices has never been greater, as the bullseyes now span the Internet of Things (IoT), smart home gadgets, smartphones, PCs, tablets, smart TVs, internet media devices and, of course, wearable technologies.

“Back in 2007 PCs accounted for two thirds of internet devices – now it’s only 10 percent,” says David Mercer, Principal Analyst and the report’s joint author. “The impact of the internet on daily lives has increased rapidly in recent years. Huge growth potential still lies ahead, in terms of both the number of devices relying on internet connectivity and its geographic reach.”