The Internet of Things (IoT) is beginning to grow significantly, as consumers, businesses, and governments recognize the benefit of connecting IoT devices to the internet. We are entering the era of the connected business model. Potentially, any asset, person, product, process, or source of data can be connected, making a reality of the long forecast connected house, car, factory and ecosystem. Smaller and cheaper sensors—embedded technology in products like cars, oil wells, wearables, and business processes—will become the norm over the next decade. All this connectedness has the potential to radically change business models and the competitive landscape.
According to BI Intelligence report, The Internet of Things will be the largest device market in the world. We estimate that by 2019 it will be more than double the size of the smartphone, PC, tablet, connected car, and the wearable market combined.
The IoT will result in $1.7 trillion in value added to the global economy in 2019. This includes hardware, software, installation costs, management services, and economic value added from realized IoT efficiencies. Device shipments will reach 6.7 billion in 2019 for a five-year CAGR of 61%. Revenue from hardware sales will be only $50 billion or 8% of the total revenue from IoT-specific efforts, as software makers and infrastructure companies will earn the lion’s share.
The enterprise sector will lead the IoT, accounting for 46% of device shipments this year, but that share will decline as the government and home sectors gain momentum. By 2019, government will be the leading sector for IoT device shipments.
After the course, participants will have a good understanding of the different pieces of an IoT system and how they interact.
Bringing together these skills and the related specific knowledge on the subject will allow the project partners to tackle all aspects of considerable complexity of developing a general architecture for the Internet of Thing