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The ‘Internet of Things’ Will Be The World’s Most Massive Device Market And Save Companies Billions Of Dollars

The ‘Internet of Things’ Will Be The World’s Most Massive Device Market And Save Companies Billions Of Dollars

Read more: http://www.businessinsider.com/how-the-internet-of-things-market-will-grow-2014-10#ixzz3G8Rt5YwB

IoT devices by Sector

“Here are a few of the key findings from the BI Intelligence report:

Read more: http://www.businessinsider.com/how-the-internet-of-things-market-will-grow-2014-10#ixzz3G8S2AlJe

Here Are The Four Key Elements That Will Make The ‘Internet Of Things’ An Absolutely Massive Market

Read more: http://www.businessinsider.com/four-elements-driving-iot-2014-10#ixzz3G9LzKVAG

IoT  Sensors Forecast

“Here are the four important factors propelling the IoT forward:

  • The cost of internet-connected sensors is coming down: Many IoT devices rely on multiple sensors to monitor the environment around them. The cost of these sensors declined 50% in the past decade, according to Goldman Sachs. We expect prices to continue dropping at a steady rate, leading to an even more cost-effective sensor.
  • A lot more money is being poured into the IoT: Large companies like Dell have begun to aggressively open IoT divisions and innovation labs. There have also been a range of IoT acquisitions including Google acquiring Nest and Intel acquiring Basis. In addition, innovative IoT startups, such as IoT cloud-platform provider Electric Imp and smart plug maker Zuli, have received a combined $70 million in funding just this summer.
  • Expanded internet connectivity: The International Telecommunication Union (ITU) estimates that currently 40% of the global population is connected to the internet and by 2019, roughly 57% will be connected. This increase in connectivity will lead to a larger base of individuals interested in purchasing IoT devices.
  • High adoption of “remotes,” especially smartphones, phablets and tablets: The IoT is heavily reliant on “remotes,” primarily smartphones and tablets that can manage the IoT. Today, smartphones account for 69% of mobile phones sold globally, and their share is still rising as developing nations introduce better wireless infrastructure. “

Read more: http://www.businessinsider.com/four-elements-driving-iot-2014-10#ixzz3G9MAR86G

Stephen

Posted on: October 26, 2014, 6:54 am Category: Uncategorized

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