IDC’s New Global IoT Decision Maker Survey Quantifies the IoT Opportunity

According to research firm worldwide Data Corporation (IDC), the global market size of IoT is expected to reach $7.1 trillion in 2020.

The Internet of Things is poised to soar in the enterprise, a new survey from IDC indicates, with the planning stage rapidly shifting to deployment.

Will the Internet of Things deliver new insight and value by accumulating more data from more things or will we struggle to make any sense of a growing mass of information from unrelated sources? Any infrastructure in the future has to be “automation-ready” to be energy efficient, secure and offer better lifestyle and comfort.

Besides, to create a development environment for the IoT ecosystem worldwide, Intel founded the Intel IoT Solutions Alliance (ISA).

The Internet of Things or IoT as commonly called, allows homeowners to control their equipments, appliances and other devices at home through the use of an app on their smartphones. The firm targets revenue of around $2 million in the current fiscal year.

A new report from Strategy Analytics predicts that providers may be able to save up to a quarter of their business costs with the Internet of Things. They were in the financial, insurance, real estate, manufacturing, professional services, education, public sector, healthcare, pharmaceutical, telecoms, media and technology sectors. Google Glass provides fast access to information by speaking commands to microphone built into the smart eyewear device.

It is not simply a case of increasing network capacity and connecting new devices.

“The IoT market is pacing up in India”. This article will explore two further factors -network capacity of IT systems and the skills required to oversee and manage corporate IoT implementation.

“The IoT is no longer a future definition, but a change happening every day in all areas”, he said.

Under the deal, HCL and IBM will focus on connected products and operations such as remote monitoring, smart inventory management, smart building and facilities management.

As part of the partnership, HCL and IBM will combine their technical know-how and manpower to enable seamless integration of device, connectivity, data platform and analytics for organisations to address some of the most complex enterprise and industrial IoT challenges.

Companies will partner with each other to fill the gaps in their offerings, and “you’ll see very targeted mergers and acquisitions”, she told the E-Commerce Times. This is probably the next biggest thing after the invention of computer. As previously discussed, security is the key barrier to IoT integration; although it is evident this is not the only factor holding back wide scale adoption.

Although there are enormous opportunities in the IoT space, but they are not without challenges.

What are the architectural challenges and emerging solutions?

Security – or the lack of it – may turn out to be a nightmare for enterprises moving to the IoT.