Forecasts are showing that spending on the Internet of Things (IoT) will surpass several trillion dollars over the next five years and Gartner projects that spending on connected devices will reach 20.4 billion by 2020. and both B2C and B2B companies are scrambling to understand what this tidal wave of spending and technology will mean to their products, customers, employees, production practices and how will it change their industries. But is the IoT really that new? Let’s take a look back to understand the genesis of this wave.
Making business in a highly turbulent market is always risky and challenging but it discovers promising prospects at the same time. Staying tuned about latest trends before they become a buzzword allows companies make the best use out of the innovations and be ahead of their competitors. We suggest being predictive and get to know about future tendencies in advance.
Raspberry Pi was started at a time when the IIoT (Industrial Internet of Things) was picking up steam; since then, new uses for the product in the industrial sector have been supported by numerous industrial-application-specific releases of the product.
Anytime something new makes a monumental splash, there are a host of products and services that pop up around the game-changer. These products and services provide support, infrastructure and, at times, new uses to throngs of users.
Right now, IoT (Internet of Things) is that game-changer and IoT platforms are an important part of the IoT industry. In fact, Markets and Markets, an online statistics, market research and business intelligence portal, shows that in 2015, global IoT hardware in retail will have a market size of $35.64 billion by 2020.
Internet of Things (IoT) has already revolutionized the car industry, and the so-called Industry 4.0 is changing the way we look at production. It is important to keep up with new trends to not miss out on opportunities industrial IoT brings. We have already discussed a big question of the differences between M2M and IoT, and in this article, we will go through the ways IoT will be able to help the manufacturing companies in 2017. Reducing business risks using Big Data proved to be one of the biggest moneysavers for manufacturing enterprises in 2016, and this trend will continue in 2017.
Although the internet of things is quite a newish phenomenon in manufacturing, healthcare, logistics and other industry and service domains, it has gained significant magnitude and power. Indeed, it keeps winning businesses, which has resulted in its ever-growing market value. It totaled $917.2 billion in 2016, and now it shows a tremendous growth rate: 23% in 2016 compared to the previous year. Experts predict it to almost double by 2019, which will be $1710.4 billion.
Along with the rapid evolvement of various portable electronic devices, smart home appliances and technological equipment, the internet of things keeps gaining critical importance and significant control. Because of its value and a powerful influence on our way of life, it has even been nicknamed the Next Industrial Revolution. Indeed, our habits and behavior have changed as the internet’s ubiquitous presence in day-to-day operations has simplified them tremendously. If this trend continues, what will be the internet of things in 2020?
We have been using internet connected cars technologies for years, in ways that by now seem routine for many: they link to our smartphones, register real-time traffic alerts, stream music from the Internet, and offer emergency roadside assistance at the touch of a button.
Over the years, we have been implementing M2M and IoT solutions. In this article, we go through the distinctions and the pros and cons of both communication technologies. First, let us take a look at definitions.
The internet of things has inevitably penetrated the healthcare industry, one that accounts for billions of smart devices – and their number keeps growing exponentially. Although the internet was adopted for healthcare equipment long ago, it is only in recent years that medical institutions have arrived at giving serious thought to IoT-connected devices. The statistics confirm an increasing role of the healthcare IoT: the Mind Commerce’s report predicts that it will reach $117 billion by 2020, with a 15.1% annual average growth rate.