May 21, 2015
The ability to connect to deliver efficiency is integral to the Internet of Things. As more connect many are not, leaving people, places and things seeking to connect. Mobile is driving connectivity “By the numbers: Internet of Things industry to grow by this much in 2015” and closing the divide can deliver deeper returns.
I am concerned about the digital divide inside of the Internet of Things. In the nucleus of the Internet of Things is it people or things. The answer will soon be addressed as the unconnected become critical to the Internet. The Internet of Things (IoT) is approaching a system that will have to be considered more socioeconomically.
The Boston Business Journal reported, “The worldwide connected-devices industry, commonly referred to as the Internet of Things, is on track to grow by 19 percent this year.
That’s according to a new forecast from Framingham-based research firm International Data Corp. (IDC).
- The Internet of Things market in manufacturing operations will grow from $42.2 billion in 2013 to $98.8 billion in 2018, a five-year compound annual growth rate (CAGR) of 18.6 percent.
- The hottest U.S. market is in connected vehicles, with 34.8 percent year-over-year growth anticipated in 2015.
- Digital signage use in retail outlets will grow from $6 billion in 2013 to $27.5 billion in 2018, a 35.7 percent five-year CAGR, as retailers continue to digitize the consumer experience.
The Internet of Things industry is booming in Boston, with dozens of companies working in this field. Among them are Boston-based LogMeIn (Nasdaq: LOGM), Boston startup Onion.io, and Needham-based PTC (Nasdaq: PTC).”
The boom is in connecting and yet the companies that can grow the unconnected will be the winner. The ability to create equity and inclusion within the Internet of Things is the chasm to cross versus connecting the already connected.