WHAT ARE THE FIVE MAIN MARKETS FOR IOT?

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  • February 08, 2021
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The Internet of Things (IoT) is accelerating at an impressive speed, forecasters predict 25 billion devices will be online by 2020, creating over $300 billion in opportunities for companies involved4. Even with this considerable growth coming in the next five years, most enterprise folks still don’t understand or aren’t invested in the IoT revolution. 

Management consulting firm Bain & Company believe that’s due to misrepresentation on the definition of IoT. Consumer: Apple, Google, Samsung, and other mobile leaders will extend their reach to customers by launching new products in the autonomous, robotic, and smart home categories. We are already seeing the battleground emerge, Samsung acquired Smart Things, Google acquired Nest Labs, and Apple launched Home Kit. Industrial Internet of Things (IIoT) 2: Called Industry 4.0 by the German Government, IIoT could be even bigger than the consumer market and provide huge opportunities for businesses to lower costs while improving demand and reach. Bain & Company see partnerships as the key player in IIoT. Businesses that are able to cooperate with tech firms might see the most advantages in the years to come. Networking: Networking giants like Nokia, Cisco, Ericsson, and Huawei are all looking at IoT as a massive opportunity to make more money. Industries will require real-time analytics of their network, and to get that they need super-fast Internet and a well-designed network. Real-time Analytics: Analytics in the IoT world will be more than the traditional providers, like IBM and SAP. Businesses will need dedicated cloud servers, from Amazon Web Services or Salesforce, to keep track of their entire IoT network and understand where they could save money. Autonomous driving and robotics: Autonomous cars, robots, drones, and other new technologies that provide humans with a greater level of autonomy will bring many advantages to the consumer and enterprise market. Drones are already being tested by Amazon and Google for deliveries and robots in Japan are taking over jobs as hotel guests.

Internet Source: http://readwrite.com/2016/05/20/five-main-markets-internet-things-pl4/

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