Few disagree that the Internet of Things is accelerating at rapid speed. Gartner Inc. predicts there’ll be more than 25 billion connected devices in the world by 2020, generating revenues of more than $300 billion for those who catch the wave. But even with this massive amount of growth being forecast, most enterprises fail to understand the opportunity and are not invested in the IoT. Consulting firm Bain & Company Inc. believes a big reason for this is that the definition of the “Internet of Things” is still being misrepresented.To try and add some clarity to the issue, Bain & Company recently published a new report that focuses on “the major emerging battlegrounds” in the IoT that enterprises need to be aware of.
Verizon says that it will focus on “developing new markets,” as the telco giant was just able to keep revenues on the uptick.The US carrier said that it would be shifting a focus over towards the internet of things (IoT) and its content market in the coming months, as it looks to bolster sagging revenues in other parts of its business.
Inaction on raising net metering caps and reforming the Commonwealth’s Solar Renewable Energy Credit (SREC) program has halted construction of more than 500 solar projects — valued at $617 million and costing cities and towns $3.2 million in annual tax revenues.
The Internet of Things (IoT) revolution is set to dramatically alter the manufacturing economy.Internet-connected devices, and their promise of delivering higher profits, revenues, differentiation and market share means manufacturers are pouring research and development into developing IoT devices.And as they transform product lines to take advantage of Internet connectivity, manufacturers are transforming their business models to enable innovation, flexibility and new revenue streams.
A wealth of examples are now emerging across industry sectors of successful implementations of Internet of Things (IoT) technologies. These projects are creating new efficiencies, competitive edge, cost savings and revenues, and demonstrating that the Internet of Things is here to stay.IDG in partnership with Intel recently surveyed 200 IT leaders on the subject of IoT. The survey suggested that IoT is beginning to catch the interest of IT leaders, with the majority of respondents defining it as ‘the biggest revolution in business computing for decades’.
Dubai: The global revenues from the Internet of Things (IoT) will increase more than 18 per cent from $655.8 billion (Dh2.4 trillion) in 2014 to $779.9 billion this year, said a top Cisco official.IoT is defined as the network of devices that are connected to the internet and can be controlled remotely,“We have passed the incubation phase, now IoT/smart city solutions are ready to be scaled. Cities who scale first will be the winners in an increasingly competitive environment. Dubai is rapidly transforming into becoming one of the smartest digital cities in the world connecting the unconnected through the power of intelligent networks,” Anil Menon, president of Smart+Connected Communities at Cisco, said at the third annual Internet of Things World Forum (IoTWF) taking place in Dubai from December 6-8.
City leaders today are assuming a more proactive role in creating energy policies by developing comprehensive energy efficiency and carbon reduction goals to mitigate and adapt to climate change. This has resulted in ambitious energy projects supported by innovations in smart grid technology, demand management, alternative and renewable generation, and distributed energy resources (DER). According to a new report from Navigant Research, global smart energy for smart cities technology revenues are expected to grow from US$7.3 billion in 2015 to US$20.9 billion in 2024.
The European smart thermostat market is set to boom, driven by the 2020 targets on climate change and mandatory energy efficiency certification for buildings, according to a new analysis from Frost & Sullivan. The enforcement of minimum standards for high energy consuming products such as boilers as well as HVAC systems is also fueling opportunities for smart thermostats. The United Kingdom, Germany, and the Netherlands will account for a lion’s share of the market in Europe, while France will be the fastest growing.Frost & Sullivan finds that the European smart thermostat market earned revenues of $152.5 million in 2014 and forecasts that this will jump to $2.57 billion by 2019.
?Global revenues from smart home automation systems will grow at a 21% CAGR between 2015 and 2020, according to ABI Research. North America will account for the lion’s share of the smart home automation system revenues in 2020, contributing close to 46% globally, followed by Europe and Asia-Pacific.
Electric power utilities are facing growing financial pressures as traditional power usage evolves through a combination of increased use of renewable power, system efficiencies, and anemic demand.
Since 2004, average residential electric prices have risen 39% to 12.5 cents per kilowatt hour, while sales remain lower than they were in 2007 before the recession. If utilities continue to raise prices, then more consumers will embrace energy saving devices and alternative power sources like solar panels. This dynamic could create a vicious cycle of falling revenues and rising costs for utilities.