With every market forecast predicting rapid growth of the overall Internet of Things, industry and investor focus shifts to specific market segments that will experience the quickest adoption. While most of the attention is on particular applications and technologies, I think managed IoT services will be one of the biggest market opportunities.One of the greatest challenges standing in the way of widespread IoT adoption is the lack of skills and experience to evaluate, acquire and integrate all the piece parts necessary to assemble an IoT deployment.
The global Internet of Things (IoT) market is forecast to grow from $7 billion in 2014 to $45 billion by 2019, according to a recent report by Technavio, making it abundantly clear that homeowners nationwide are investing in devices that help improve security, comfort, and peace of mind in their homes.HVAC contractors have taken notice and stand ready to fulfill these demands, which often begin with the gateway into their customers’ homes: the smart thermostat.
Technavio has announced the top nine leading vendors in their recent global ZigBee enabled devices market 2016-2020 report. This research report also lists 18 other prominent vendors who are expected to gain market share over the forecast period. To identify the top vendors, Technavio’s market research analysts have considered the top revenue contributors for the ZigBee enabled devices market. The report includes market forecast of the global ZigBee market based on product segments that implement ZigBee wireless technology (connected light bulbs, remote controls, smart meters, smart thermostats, and set-top-box).The analysis in this report is based on vendor briefings, interviews with industry experts, and telephone and online surveys. Technavio analysts have also presented a breakdown of market shares by the leading regions, including APAC, Americas, and EMEA.
The report covers forecast and analysis for the smart grid market on a global and regional level. The study provides historic data of 2014 along with a forecast from 2015 to 2020 based on revenue (USD billion). The study includes drivers and restraints for the smart grid market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the smart grid market on a global level.According to the report, global smart grid market was valued at approximately USD 40.0 billion in 2014 and is expected to reach around USD 120.0 billion in 2020, growing at a CAGR of slightly above 18% between 2015 and 2020.
This report highlights three verticals in the IoT market, where there is significant traction today. These verticals include the smart home (home automation), industrial smart devices or industrial Internet of things (iIoT) and wearables (smart devices). These verticals are discussed and analyzed in detail, while the segments for the devices and chipsets used for IoT within them are sized and forecast (through 2020) in terms of revenue opportunity.
In Europe, a US based IoT market research and consulting firm Parks Associates has forecast that 2.5 million western European households will have a smart home controller by 2019.Stuart Stikes, president at Parks Associates attributes the forecast to the growth in smart homes.He says: “Smart home systems will need the flexibility to deliver multiple value propositions within the household.
Right now, the Internet of Things (IoT) is primarily the realm of futuristic-minded early tech adopters. Think of the pioneers who use Google Glass to snap pictures, Nest to control their home temperature or turn to their smartphone to dim the light bulbs in their bedroom. In a decade, things will look much different. By 2025, the Internet of Things will become more mainstream, having an economic impact between $3.9 trillion and $11.1 trillion per year, according to a recent economic forecast released by consulting firm McKinsey & Company. The upper figure (including the consumer surplus) could account for as much as 11 percent of the world economy, the report states.
Smart thermostats are forecast to take a larger portion of the market this year, accounting for over 40 percent of the nearly 10 million thermostats sold in the U.S., according to new smart home research from Parks Associates. The report, Winning Smart Home Strategies for Energy Management, estimates smart thermostats will account for over 50 percent of the total market by 2017.
Is the Internet of Things (IoT) shaping up to become a security nightmare?
The fast-growing market for IoT solutions and services may be giving IT professionals some pause, suggests a new study from Dallas-based IT outsourcing company CompuCom. Citing a forecast from IDC, the firm expects the IoT market to consist of 212 billion connected devices and be worth $8.9 trillion in 2020. Meanwhile, telecommunications giant Verizon predicts that by the same year, the industry will have established 5.4 billion business-to-business (B2B) IoT connections.
What if you could you could control the electronics and systems in your home simply by saying out loud: “computer, turn on the master bedroom lights,” or “House, set the cool setpoint to 70 degrees”? Or ask, “Computer, what is today’s forecast?”
That what CastleHUB, an intelligent home automation system from CastleOS, aims to offer. It leverages Microsoft Kinect along with CastleOS’ own custom natural language processing software to offer voice command with no training or programming necessary. You can also change the “computer” hot word to literally any name you want. Seriously, go crazy.