Future Proofing is Key to IoT Success
Mar 6, 2019 | By Prashanth Shetty
The Internet of Things (IoT) market is steadily growing at an impressive rate and is currently projected to have connected over 25B connected devices by 2020.
The “Internet of Things” (IoT) may sound complex, but in actuality, is a fairly simple concept to understand. On a very high level, IoT is the ability for things that contain embedded technologies to sense, communicate, interact, and collaborate with other things, thus creating a network of physical objects. In recent years this concept has gained enormous momentum, and is now one of the most talked about things in the world of technology today. At this rapid rate of growth, it is projected that there will be approximately 26 billion connected devices by 2020.
With the Internet of Things, manufacturers can give each of their physical assets a digital identity, enabling them to know the exact location, condition, and usage of their assets in real time throughout the supply chain.
Consumer adoption of connected devices such as smart appliances and wearable devices is rising. Today, more than 30% of consumers already own or plan to purchase an in-home connected device in the next two years according to a report by Acquity Group. Some of the key benefits connected devices provide consumers are:
Voice control and voice-based technologies have experienced massive growth in the past five years within the consumer market, and they are rapidly changing and influencing adoption of voice-controlled products. This white paper discusses the following topics: defining the Voice Control Market, Consumer Adoption and Use and Market Shift Factors.
This whitepaper analyzes 10 key trends impacting the market for consumer technology now and into the next year. Topics include: Voice Control, Mobile Services, Connected CE, Virtual and Augmented Reality, OTT Video Services, Connected Cars, Smart Home, Smart Home Devices & Services, Wearables and Healthcare.
The Internet of Things (IoT) covers a lot of ground, and much of it is in the consumer space. There has been a flood of products and the numbers continue to rise. Many have a limited market, but the number has risen into the billions: Gartner estimates 6.4 billion in 2016.