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Infographic: Past, Present, & Future of IoT

The Internet of Things (IoT) is more than the newest buzzphrase. It's set to transform the electronics industry, from what products consumers use to how those products get made.

“Vast innovation in the Internet of Things space is being driven by range of people from large multinationals to small groups of engineers in a garage,” Pete Hutton, executive vice president of ARM and president of its products group, said in his keynote speech at the ARM TechCon 2014 conference this week in Santa Clara, Calif. “That will create lots of opportunities and massive volumes of data rippling through both network and infrastructure.”

If estimates are true, the market is huge — and getting larger every day. In fact, Gartner forecasts that the IoT will have 26 billion units installed by 2020. By that time, IoT product and service suppliers will generate incremental revenue exceeding $300 billion, mostly in services, the market research firm predicted. International Data Corp. (IDC) sees even higher figures. In a recent report, the firm said the worldwide market for IoT solutions will grow from $1.9 trillion in 2013 to $7.1 trillion in 2020.

The infographic below from Aria outlines the evolution of the IoT revolution from early stages into its future. What do you think is on the horizon? What does the electronics supply chain need to do to get ready for the demand? Let us know in the comments section below.

— Hailey Lynne McKeefry, Editor in Chief, EBN Circle me on Google+ Follow me on Twitter Visit my LinkedIn page Friend me on Facebook

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11 comments on “Infographic: Past, Present, & Future of IoT

  1. FLYINGSCOT
    October 3, 2014

    I love the idea of a smart wall.  You reckon with the cost of large screen TVs coming down then it might not be too far fetched that smart walls will be with us in less than 10 years.  I'd also like to see the sun shine even if it was only on a smart wall.

  2. Hailey Lynne McKeefry
    October 3, 2014

    I'll be interested to see how this impacts industrial control and machine to machine communications. The consumer applications of IoT are driving a lot of excitement but these other applications are going to be a huge opportunity as well. 

    A new MarketsandMarkets report forecasts the wireless M2M market to account for $196 Billion in revenue by the end of 2020, following a CAGR of 21% during the six year period between 2014 and 2020. This research also indicates that the installed base of LTE powered wireless M2M connections will reach nearly 210 Million by the end of 2020. Those are some pretty big numbers… definitely not to be ignored.

    Anyone have thoughts on how IoT technology will help electronics manufacturers?

  3. Ashu001
    October 4, 2014

    FlyingScot,

    I like the Idea of a Smart Wall too.

    Only question is that how would you let Sunlight through?

    Making the Entire Wall of a Transparent PhotoVoltaic Layer(which Lets light through at the Flip of a Switch)?

    Or are you thinking of something else in Mind?

    There are a lot of Enormous Advantages of Sunlight (when it comes to Health of Humans today).

    Depression can be easily prevented thanks to Ample Sunlight.

    Also Vitamin D Deficiency can also be prevented.

     

  4. Ashu001
    October 4, 2014

    Hailey,

    Do you really believe any Business can grow at Double Digit Rates(21% Annually) for 6 straight years in the Kind of Economy we have today?

    I personally have serious Doubts.

    Its stunning how many Young People are on Welfare today.

    All the Jobs that America is generating today are going to the 55+ Age Category who are refusing to retire either because they have'nt saved enough or saw their Nest Eggs get crushed by the 2008 Recession.

    Also,most of this Crowd is making do with Smaller homes(less maintainence as well as easier to move around).

    The 22-54 age group would love to own Big Homes(where you can have these great Gizmos) but they just don't have the Jobs or the Positive Credit Profile to afford these Housing Loans.

    So once again,we are left wondering where is the Demand going to come from?[For the level of Growth these guys from MarketsandMarkets are projecting here]

  5. docdivakar
    October 6, 2014

    Regarding the market opportunity for IoT, it could very well be that IDC forecast is on the low side. Cisco's forecasts were in at ~$10.4T from 2013 to 2020, with annual average of $1.2T. This is not too unrealistic but drives home one point for sure -that the costs of all components in the IoT ecosystem have to come down drastically.

    MP Divakar

  6. SP
    October 8, 2014

    IoT will change how we use electronics now. It would be more helpful for the mankind especially the healthcare sector.

  7. SunitaT
    October 10, 2014

    IOT in healthcare has a lot to do, many ways to flourish IOT in that sector. We're already talking wearables and smartphone technology to track data emitting from pacemakers etc. What I'm interested in however, is the growth of IOT in aviation.

  8. SunitaT
    October 10, 2014

    Smart walls are cool. Frankly I think too much IOT integration would force users to pay for “privacy” and this could be made possible by “electronic walls” that would nullify IOT streams of data by encrypting it (rendering it impossible to be decrypted by the smartphone or the cloud analytics).

  9. Hailey Lynne McKeefry
    October 22, 2014

    @Tech4People, I'm not sure that a BUSINESS can sustain that sort of growth, but certainly it is not unheard of for a sector of business to growt at that rate. This sector includes a broad variety of companies. I think there will also be many new startups entering the fray which will add to growth.

  10. Hailey Lynne McKeefry
    October 22, 2014

    With all the IoT technologies and products coming to market, users will have to start thinking about how and what they will want to use themelves. People will have to develop an IoT style, if you know what i mean. it will be interesting to see how it evolves.

  11. Ashu001
    October 30, 2014

    Hailey,

    That is correct but that kind of Growth is only in the Short-Term and can't be sustained(at most firms) beyond 2 -3 Years maximum.

    The Growth that various startups can generate is also limited to a short period of time.

     

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