Application development platforms will be the engines that drive growth. In addition, by strengthening the integration and consolidation of IoT platforms, the development of solutions, cost and value for customers will be improved.
Frost & Sullivan has presented a study analyzing the market for devices related to the Internet of Things. According to the consultancy, this sector will experience a compound annual growth rate of 20.3%, from last year 12,440 million IoT devices worldwide to about 45,310 million IoT devices in 2023. For Dilip Sarangan, director of Internet research for the company’s Things, the engine of this increase must be sought in the application development platforms. “By strengthening the integration and consolidation of IoT platforms, the development of solutions, cost and value for customers will be improved,” he adds. Of course, and although for the manager it is impossible to create standards in all the industries that are part of the IoT,
In the study, the consultant also lists five predictions about it in the coming months: the transition from devices connected to cognitive or predictive computing and sensitive tools; the use of artificial intelligence to transform intelligent devices to react to changes in the environment without human intervention; greater commodification of platforms; a boom in the supply of drones for various uses such as monitoring of forest fires or power lines; and the intensification of cyber attacks using insecure IoT devices.
The rapid expansion of connected devices represents a unique opportunity to grow your business. Internet of Things offers new ways of relating to customers, developing new business models and greater visibility into intelligent innovation. Now is the time to capitalize on IoT.