8 Myths and Facts about IOT, a growing business.

Here is a reblog of an excellent article written by Ahmed Banafa; 8 Myths and Facts about IOT.

The Intenet of thing is not new, this is just a trend that is bigger everyday, as Mr Banafa puts it, the IOT is simply the logical next step in an evolutionnary process.

It is a nice follow up to my previous post “The internet of Things is here to stay and Barcelona is where you’ll find it” presenting the up-coming IOT Solutions World Congress in Barcelona from 16th to 18th September 2015.

THE INTERNET OF THINGS IS HERE TO STAY AND BARCELONA IS WHERE YOU’LL FIND IT.

http://www.iotsworldcongress.com/

The Industrial Internet revolution has begun, and is anticipated to be the most disruptive technology in industry since the Internet revolution of the 1970s and 1980s. According to a recent report by General Electric and Accenture, 80-90% of surveyed companies, across all industries, indicated that Big Data analytics is a top priority for their organization. Another survey from Cap Gemini shows that the internet of Things is top of the list of most corporations ‘priorities.

However, another report from the World Economic Forum states that 88% of those surveyed do not yet fully understand the Industrial Internet’s underlying business models and long-term implications to their industry. Organizations that do not begin implementing an Industrial Internet adoption strategy will find they are quickly falling behind their competitors.

Business Insider released a report  that looked into the future of the Internet of Things (IoT) market  and focused on three main IoT sectors: enterprise, home, and government. Enterprise will be the top investor in this growing technology, including industries like manufacturing, transportation, utilities, and construction. According to the report, manufacturing is expected to be at the top of industry investments.in fact, manufacturers are expected to spend an estimated $140 billion over the next five years. Moreover, there are expected to be an estimated 23.3 billion IoT devices in use by 2019, with 9.1 billion – or 40% – being used in the enterprise industry. To put that into perspective, the IoT market is slated to outgrow both the smartphone and tablet markets combined!

The IoT Solutions World Congress (IoTSWC) that Barcelona hosts from 16th to 18 September 2015 brings together industry leaders to discuss how the Industrial Internet can be deployed, how it is already being used, and what the various benefits are. The programme is quite extensive as it will includes different industry tracks such as:

  • Energy & Utilities
  • Healthcare and Manufacturing
  • Manufacturing
  • Transportation and logistics
  • Innovation
  • Technology

IoT also has a lot of applications for Smart Cities. No doubt that hosting the event will help Barcelona consolidating it´s #1 position in the world Smart Cities ranking.

As the definitive agenda of The IoT Solutions World Congress is still building up, it certainly will be the topic of a next post.

Global Internet of Things study suggests significant revenue growth for leading businesses

The Next Silicon Valley

By Nitin Dahad

IOTSWC LogoA major new global study looking at the impact of IoT (Internet of Things) technologies across a wide range of industry sectors around the world, found that companies investing in IoT are reporting significant revenue increases as a result of IoT initiatives, with an average increase of 15.6 percent in 2014. Almost one in ten (9 percent) saw a rise of at least 30 percent in revenue.

Company executives see the IoT as a growing area for businesses, with 12 percent identifying a planned spend of $100 million in 2015 and 3 percent looking to invest a minimum of $1 billion among the 795 companies surveyed in the Tata Consultancy Services (TCS) report. The report also shows that companies predict their IoT budgets to continue increasing year-on-year, with spending expected to grow by 20 percent by 2018 to $103 million.

Companies at the very forefront of this…

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