The Internet of Things (IoT) — which includes connected devices like wearables, smart appliances, and connected cars — is widely expected to become the next major growth market for the tech industry. Research firm IDC estimates that the global IoT market will grow from $656 billion in 2014 to $1.7 trillion in 2020.
Intel (NASDAQ:INTC) and Hewlett-Packard Enterprise (NYSE:HPE) recently teamed up to expand into the Internet of Things (IoT) market, which includes connected devices like wearables, smart appliances, and connected cars. The two tech giants will work together to create open standards for IoT devices. They will also create three global “solutions labs” to help customers accelerate the deployment of IoT applications, as well as three “discovery labs” where companies can test IoT applications and devices.
Nokia, Ericsson and Intel Corporation today announced their support for Narrow-Band Long-Term Evolution (NB-LTE) technology as the ideal wireless connectivity solution for the growing Internet of Things (IoT) market segment.NB-LTE is an optimized variant of the widely deployed 4G LTE technology, and is well-suited for the IoT market segment because of its low implementation cost, ease of use and power efficiency. Nokia plans to work closely with Ericsson and Intel to develop and bring to market the products needed for the commercialization of NB-LTE timed with market demand.
It may not be long before every gadget in your home is connected to the internet.So it?s no wonder an increasing number of IT companies are itching to be the first to get you hooked up. And for tech companies who find the smart-home industry out of their wheelhouse. Many are acquiring related startup companies to get into the game.
Intel Corporation, the world’s largest semiconductor chip maker, has joined the competition for leadership of the fast-growing smart-home market with its recent purchase of Lantiq, a company that specializes in broadband access and home networking technologies.