Tag Archives: forecast 2017

IoT Market growth in 2017

The Internet of Things (IoT), constantly develops in many fields, such as everyday objects, wearables, appliances, and vehicles in the cloud. The enormous growth is also expected for industrial applications. Industry 4.0 Ecosystems bloomed over last year, and upcoming 2017-2020 will be the years of further IoT expansion.

Increased sales of IoT processors and the expansion of IoT ecosystems fuel market growth in IoT analytics, which organize the information gathered from those devices into actionable data. Two key companies to watch in this field are networking giant Cisco and Amazon.

Cisco, one of the largest networking equipment companies in the world, started integrating analytics services into its hardware in 2014 through its “Connected Analytics for the Internet of Everything” initiative. Since then, the company has acquired numerous cloud and IoT companies to bolster that effort. In February, Cisco announced its intent to acquire Jasper Technologies, a leading IoT service platform for businesses and service providers.

Amazon owns AWS (Amazon Web Services), the largest cloud-based platform as a service in the world. AWS is generally known for hosting websites and data, but the company has been aggressively adding new analytics services for businesses. One such service is AWS for IoT, a new platform which enables Amazon to collect and analyze data from IoT devices for a fee.
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The annual growth in IoT fields multiplies the number of IoT devices used. It might be a huge opportunity for IT companies, but also a massive challenge for fog and cloud integration of IoT ecosystems. The fast development of these solutions and it’s influence on the market carries potentially unimaginable benefits of using Internet of Things Ecosystems.

The above summary and forecast was made in 2014. Since then, the rate of growth has increased so rapidly, that current Intel predicitons quadruples the number of connected IoT devices.

Intel estimates that the number of connected devices worldwide will surge from 15 billion in 2015 to 200 billion in 2020. That comes out to about 26 smart devices gathering data from every person in the world. Intel’s optimistic forecast could certainly be tripped up by issues with conflicting standards, privacy, and security, but investors should still keep an eye on these key companies as the overall market expands.
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