Internet of Things will move $ 1.7 trillion by 2020

29.5 million devices connected are expected by the end of the decade. Intel Capital tops the list of the fastest invest in startups IoT

The global market for Internet of Things is expected to grow from $ 655.8 billion in 2014 to $ 1.7 trillion in 2020, projects IDC. The company predicts that the number of connected devices will advance 10.3 million in addition to the 29.5 million in the six- year interval.

Devices, connectivity and IT services will account for most of the amount transacted. Platforms offers for specific purposes, storage, security and software as a service also will account for a large percentage of sales, assesses the consultancy.

As the ecosystem of the Internet of Things continues to grow, companies must increase the search for platforms and services to help in the management and real-time analysis of data coming flows of connected cars, thermostats and smartwatches, expanding the boundaries of the CIO´s world.

The increasing number of devices IoT is due to a reduction in parts cost sensors, improved connectivity and increased data processing power. Different devices will be managed by the same infrastructure, highlighting the need for common standards. The collaboration with a number of shareholders will be crucial.

Who invest in this market? 

From smart thermometers to diverse connected appliances, the ecosystem of the Internet of Things is expanding with a series of new applications and technologies. The CB Insights set up a list of companies that have contributed financial resources in companies linked to the concept. Intel Capital leads the ranking.

The chip giant’s investment arm is followed by the funds Sequoia Capital and True Ventures. In fourth place appears another manufacturer of components: Qualcomm Ventures. Also in IT, consulting highlights the Cisco Investments, placed eighth among the most support startups IoT.

Source: CIO NBusiness