The Internet of Things (IoT) is a term that’s used to cover everything from manufacturing to smart cities, connected cars, consumer wearables and fitness, healthcare, energy and utilities, beacons and smart homes—and probably will come to embrace applications that technologists haven't even thought of yet.

On May 12 and 13 at the Moscone Center in San Francisco, about 4,000 technology people—including IoT stakeholders and investors—will gather at the second annual Internet of Things World, reputed to be the largest gathering of its kind in the world. Ayla will be among the 150 exhibitors on the show floor, in booth #512.

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The focus of the show this year, the organizers say, is on "monetizing the IoT." Indeed, pundits predict that there is a lot of money to be made from the Internet of Things. However, there is as yet no agreement on how big the market will be, nor, as analyst Judith Hurwitz writes, whether the market can be quantified at all.

As old and new technology players figure out what slice of this enormous pie they will be able to monetize, we tend to agree with a recent Goldman Sachs report that talked about the potential for growth in the area of home energy efficiency, home comfort and security. The Goldman report told readers to watch for "third-party providers to develop … software that powers and analyzes the long tail of devices" that have yet to become "smarter." To Goldman's assessment, we would add equipment such as security, lighting and entertainment systems that may now have "smarts" in the form of electronics, but that are not yet connected to what will become the Internet of Things.

“Making it easy and secure for manufacturers of all kinds of “things” to take that next step of connectivity is why we built the Ayla IoT platform,” said David Friedman, CEO of Ayla. “Once manufacturers’ products are connected, they will be able to glean the knowledge derived from the data their products generate in everyday use in the real world. Instead of manufacturers guessing what customers do with their products, they will be able to predict what customers need—maybe even before customers think about it themselves.”

As Ms. Hurwitz asserts, "The companies that sell software that analyze this type of semi-structured data will make money."

That's where we're placing our bet.