Writing for Business Insider, Emily Adler notes that the Internet of Things (IoT) — a world comprised of ordinary objects connected to the web and accessible from mobile devices — will soon emerge as a huge market, “dwarfing all other consumer electronics categories.”
Just how large are we talking? BI Intelligence reveals that 1.9 billion once-inert everyday and enterprise devices are already connected to the Internet — from parking meters to home thermostats — while that number is expected to rise to 9 billion come 2018. “That’s roughly equal to the number of smartphones, smart TVs, tablets, wearable computers, and PCs combined,” Adler emphasized.
“There are already clear signs that the biggest tech companies — and even smaller players — are trying to get out front of the race to dominate the IoT. Google has acquired Nest. Apple has unveiled its HomeKit platform. Even Staples and Honeywell — not typically companies thought of as tech leaders — are putting out new IoT-related products.”
It doesn’t stop there either, thanks in part to the budding Maker Movement. According to Gartner’s Jim Tully, by 2018, 50% of the Internet of Things solutions will be provided by startups which are less than 3 years old — this a clear result of DIY culture continuing to spur innovation throughout both the B2B and consumer space.
As we’ve previously discussed on Bits & Pieces, BI Intelligence recently listed the 6 primary attributes that’ll help make “things” a part of the rapidly evolving IoT set to connect over 30 billion devices over the next six years.
As uptake among consumers and businesses ticks up, BI Intelligence has unveiled in one of its latest reports that the IoT market “will drive trillions in economic value as it permeates consumer and business life. Soon, it will be perfectly normal to have a refrigerator that talks to you and a garage door you open with your smartphone.”
According to Reza Kazerounian, Senior VP and GM of the Microcontroller Business Unit at Atmel, the IoT is a combination of multiple market segments, tens of thousands of OEMs and hundreds of thousands of products. “It is seen by many as the next wave of dramatic market growth for semiconductors. If you look at the different estimates made by market analysts, the IoT market will be worth trillions of dollars to a variety of industries from the consumer to financial, industrial, white goods and other market segments,” he told EEWeb in February.
Adler notes just some of the most important enterprise applications that are already being developed today:
- Connected advertising and marketing: Cisco believes that this category (think Internet-connected billboards) will be one of the top three IoT categories, along with smart factories and telecommuting support systems.
- Intelligent traffic management systems: Machina Research, in a paper prepared for the GSMA, sees $100 billion in revenue by 2020 for applications such as toll-taking and congestion penalties. A related revenue source will be smart parking-space management, expected to drive $30 billion in revenue.
- Waste management systems: In Cincinnati, residential waste volume fell 17% and recycling volume grew by 49% through use of a “pay as you throw” program that used IoT technology to monitor those who exceed waste limits.
- Smart electricity grids that adjust rates for peak energy usage:These will represent savings of $200 billion to $500 billion per year by 2025, according to the McKinsey Global Institute.
- Smart water systems and meters: The cities of Doha, São Paulo, and Beijing have reduced leaks by 40 to 50% by putting sensors on pumps and other water infrastructure.
- Industrial uses: This includes Internet-managed assembly lines, connected factories, and warehouses, etc.
Earlier this month, Atmel teamed up with fellow industry leaders Broadcom, Dell, Intel, Samsung and Wind River to drive seamless device-to-device connectivity. The Open Interconnect Consortium (OIC) aims to define IoT requirements to ensure the interoperability of these billions upon billions of devices projected to come online by 2020.
“Atmel is excited about our participation in OIC to establish an open source framework that goes beyond the digital home and supports services for multiple verticals including consumer, industrial and automotive markets,” explained Kaivan Karimi, Vice President and General Manager of Wireless MCUs at Atmel.
In order to help deliver the platform for a growing demand of intelligent, connected devices, Atmel recently announced the launch of Atmel® | SMART™, the new brand of ARM®-based microcontrollers and has expanded its SMART portfolio with new SmartConnect SAM W23 modules, enabling Wi-Fi connectivity and the best of high performance and low power technology for IoT applications.