As the Internet of Things (IoT) grows we’ll begin to see
more physical objects connected and accessible via the internet. Gartner Group predicted in December 2013 that Internet
of things would grow at thirty times its 2009 pace this year – a pace far
greater than the “traditional” internet. "The growth in IoT will far
exceed that of other connected devices. By 2020, the number of smartphones
tablets and PCs in use will reach about 7.3 billion units," said Peter
Middleton, research director at Gartner. "In contrast, the IoT will have
expanded at a much faster rate, resulting in a population of about 26 billion
units at that time."
In fact, we’re already seeing Smartphone controlled home
appliances such as the Nest thermostat and the Samsung smart refrigerator. And
wearable items like the FitBit and Nike+ series are currently the
fastest-growing segment of the IoT. Just
this past week, Samsung
announced a partnership with Trek to create a more personalized and
enhanced experience for both leisure and professional cyclists. The partnership will tie Trek bicycles to
Samsung mobile and wearable devices to monitor cyclist health and facilitate
better coordination across competitive cycling teams. Even investor and
Mavericks owner Mark
Cuban is bullish about the IoT, particularly as it impacts individual
health and fitness. He’s especially optimistic about personal tracking devices.
"I think we're coming to a scenario where rather than us having to know
what to put in and what's smart to get a response, there are sensors that are
tracking things and then giving us information.”
Cuban is not alone in his optimism. A recent Pew study suggests
that connected devices will have a profound impact on our lives by 2025. "Many
experts say the rise of embedded and wearable computing will bring the next
revolution in digital technology," wrote Janna Anderson, director of Elon University’s
Imagining the Internet Center and author of the report. "They say the
upsides are enhanced health, convenience, productivity, safety and vastly more
useful information for people and organizations. The downsides: challenges to personal
privacy, over-hyped expectations and tech complexity that boggles us."
Brands with a more traditional focus are also joining the
Internet of Things, such As the Internet of Things continues to grow at a rapid
pace, even more traditional brands like GE are jumping on board. (GE
is currently building its own R&D center – and working with Frost Data
Capital to create a business incubator for startups focused on disruptive
technology.) At Etratech, we know it’s part of our future, and we’re excited
about being part of this next technological wave. In fact, nearly every
manufacturer is going to have to start thinking in the context of IoT, whether
your product is luggage, locks or staplers. As the trend continues, consumers
are going to expect all devices to be connected and controlled by their iPhone
or tablet.
So, how is your company planning to fit into the Internet of
Things?
