The document discusses how the number of devices connected to the internet is growing exponentially and will reach 50 billion devices by 2020, generating huge amounts of data. It outlines key technologies like big data and APIs that enable the internet of things (IoT) to connect devices. The document proposes a reference architecture for IoT with different tiers like devices, integration, analytics and presentation. It also discusses developing applications for IoT and having an app store and publisher platform for IoT apps.