5 Signs The Internet of Things Is About To Explode

The Internet of Things

By 2020, Gartner estimates that the Internet of Things (IoT) will generate incremental revenue exceeding $300 billion worldwide. It’s an astoundingly large figure given that the sector barely existed three years ago. We are now rapidly evolving toward a world in which just about everything will become connected; where Web 1.0 was about computers connecting to their data and Web 2.0 was about people connecting to their data, Web 3.0 seems set to be about everything connecting to everything.

Blogs, news sites, and CEOs have all predicted and extolled the virtues of the upcoming shift. Smart homes for everyone, better accessibility for disabled people, on-going health monitoring and driverless cars all point towards a world where humans’ lives become easier and machines take responsibility. Away from the hype, however, you can see some very real signs for yourself that the internet of things is set to explode in an unprecedented way over the coming years:

1) A rapidly increasing number of start-ups in the sector

A look at Angel.co – a site advertised as ‘where start-ups meet investors’ – shows 569 companies listed under ‘Internet of Things’. These companies have attracted 1,466 investors and have an average value of $4.9 million.

A cursory search on Google will reveal countless start-ups who are all destined to make a big splash over the coming years, boosting the sector beyond recognition.

2) The tech giants are coming…

Industrial companies (such as GE, Siemens, Bosch, and Philips.), as well as large tech companies (for example, Cisco, Intel, Apple, and Samsung) are all becoming more involved. Products such as Apple’s HomeKit, Philips’ ‘Hue Starter Pack’, and Samsung’s SmartThings all point towards a sector dominated by names that everyday consumers are accustomed to – thus making the area more mainstream.

3) A notable increase in merger and acquisition activity

In the last eighteen months a huge number of promising start-ups have been acquired by the tech giants. Nest and Oculus are the two most well-known examples, but also companies such as Basis, Dropcam, SmartThings, and Revolv have all been bought out by bigger enterprises seeking to grab market share. As a result of this, it’s very noticeable that there are comparatively few mid- to late-stage start-ups in the sector.

4) It has a global reach

Innovation in the internet of things space has been happening all around the world. Europe has been very active with companies such as Withings, Sigfox, Netatmo, and Berg leading the way, but all countries are starting to get on-board – as LIFX in Australia demonstrates.

5) The market it young

Considering the age of the market there are already an amazing array of products available. A glance to the future will reveal concepts such as digital health, invisibles, augmented reality, smart cities, connected cars, and aerials just around the corner, the growth is really starting to pick up its pace.

What do you think points to an exciting future for the Internet of Things? Let us know in the comments below.

By Daniel Price

Digital Theft

Cross-Site Scripting – Why Is It A Serious Security Threat For Big Data Applications?

Security Threat And Big Data Applications (Updated August 11th, 2020) IBM, Amazon, Google, Yahoo, Microsoft - and the list goes on. All these leading IT enterprises have been affected by Cross-Site Scripting (XSS) attacks in ...
Ian Hayes

Pick The Right AWS Course And Ensure A Brighter Future Ahead

Picking The Right AWS Course As the leader of the pack, AWS (Amazon Web Services) is the fastest-growing public cloud service in the industry, and it's all set to extend its dominance with a 52% ...
Anita Raj

Post-COVID: What decisions are leaders taking about digital transformation in 2021?

Digital transformation in 2021 If organizations were once only talking about digital transformation (DX), in 2020, it was all about translating that talk into some real action. When the pandemic hit and businesses were disrupted, ...
Martin Mendelsohn

New Executive Roles in the Post-Corona Era

Executive Roles in the Post-Corona Era As the global economy shows early signs of reviving from past months of rigormortis, forward-looking companies will be busy preparing for the next pandemic. What this means for technology ...
Staeadfast

Episode 5: How the Pandemic is Changing Business and the Cloud

An Interview with Ed Dryer of Steadfast With the global pandemic wreaking havoc on business and society, everything is changing. Ed Dryer, Senior Technology Strategist at Steadfast Networks, which specializes in Colocation, Managed Infrastructure as ...
Rick Braddy

The Secrets to Achieving Cloud File Storage Performance Goals

Storage Performance with Cost Reduction By 2025, according to Gartner, 80 percent of enterprises will shut down their traditional data centers. As of 2019, 10 percent have already shifted their data centers and storage to ...