Smart phones and watches were just the beginning, and now kitchen appliances, thermostats, and even baby onesies are being created with sensors that can relay information via an app or through email. All this is meant to improve the quality for life for consumers, but it also adds up to new marketing opportunities.
From fitness wearables to smart refrigerators, we are gradually integrating our entire lives onto the web and the massive grid of interconnected devices. Where are we headed? Predictions point towards a future where devices will become our “digital shadows,” a reflection of everything we are, and even hope to be. The question is: is that a good or bad thing? And does it even matter?
In the coming years, the deluge of data from internet connected sensors and other devices will be significant. The revenues generated from integrating, storing, analyzing, and presenting Internet of Things (IoT) data will reach $5.7 billion in 2015, according the the latest global market study by ABI Research.
If there is one thing that is dramatically clear from this week’s Consumer Electronics Show in Las Vegas, it is that the future is definitely not about mobile. Or smart televisions. Or super slim digital cameras. Instead of these mainstream consumer gadgets, the products getting attention this week are wildly diverse, from wifi enabled “smart kettles” to “selfie hair brushes” to mood tracking wrist straps. Amidst the silliness of sometimes overly quirky products, though, is a quantifiable consumer electronics trend that is poised to eclipse the “Internet of things” and offer a huge opportunity to marketers paying attention.
The Internet has had a profound impact on the Global Networked Economy during the last year, with more changes still to come -- as applications expand and evolve. International Data Corporation (IDC) has shared its worldwide Internet of Things (IoT) predictions for 2015.
There are two basic groups of Internet of Things use cases. One is centered around enterprises and entrepreneurs looking to invent new IoT products or services, and the other focused on those looking to optimize their operations. And the truth is that many of our clients, the businesses who stand to gain or lose the most based on their IoT strategy, represent both roles. They are inventors, and they are operators as well.
You're going to see many more references to the Internet of Things in 2015, and for a very good reason. Industry analysts now believe that this nascent technology and associated ecosystem of vendors and service providers is ready to experience high growth.
The Internet of Things (IoT) is poised to potentially generate huge new market opportunities for current information technology (IT) or telecom companies and new start-up companies, according to the latest global market study by CompTIA.
The market for smart city technology solutions is still very young and in formative stages, which means there's plenty of room for midsized companies to enter this solution space. Midsized technology vendors who fully understand the needs, desires and challenges that midsized cities have for smart city initiatives will find success in this market.