The Internet of Things, that is built on cloud computing and networks of data-gathering sensors, revolves around increased machine-to-machine communication. The beauty of IOT is that it is instantaneous connection. It promises to make everything in our lives that we know, “smart”, and is the latest “big” news in the world of computing. The technology promises wonders and everyone is keen to jump in on the bandwagon. The corporation think tanks have their tasks cut out on how revenue could be driven from this breakthrough technology.

1. suyati.com
References:
http://www.forbes.com/sites/louiscolumbus/2015/07/28/where-internet-of-things-initiatives-are-driving-revenue-now/
http://www.forbes.com/sites/gilpress/2014/08/22/internet-of-things-by-the-numbers-market-estimates-and-forecasts/
http://www.consultancy.uk/news/2415/embracing-internet-of-things-boosts-revenue-growth
http://www.gartner.com/newsroom/id/2684616
http://gadgets.ndtv.com/internet/news/internet-of-things-could-drive-750-900-million-revenue-from-east-india-724715
http://www.eweek.com/small-business/internet-of-things-revenue-to-hit-7.1-trillion-in-2020.html
http://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/internet-of-things-grand-challenge-workshop-key-findings.html
http://www.idc.com/downloads/idc_market_in_a_minute_iot_infographic.pdf
%Popularity of
Application of
IoT
IoT &
Revenues
2015 $2712 billion
2017 $3782 billion
2019 $5649 billion
2020 $7065 billion
IoT
79% 40%45%
The Internet of Things is the latest “big” thing in the world of computing.
While everyone is keen to join the bandwagon, and the technology promises
wonders, companies still have their tasks cut out on how to
drive revenues from this new technology.
According to research firm IDC, “Internet of Things (IoT) is a network
of networks of uniquely identifiable endpoints-things that
communicate without human interaction using IP
connectivity, be it locally or globally.”
Enterprises have taken to IoT in a big way.
The TCS Global Trend Study 2015 –
Internet of Things: The Complete
Reimaginative Force reveals:
Presently, companies use IoT
in the following ways
IoT is in its boom phase and promises to
provide windfall gains for stakeholders.
Research major Gartner estimates IoT product and service suppliers to
generate incremental revenue exceeding $300 billion by 2020.
Globally, enterprises expect
IoT initiatives to increase
revenue by 16.3%, on average
between 2015 and 2018. For
North American companies,
the average revenue gain is
projected at 18.1% on average.
A report by PriceWaterhouseCoopers and
Confederation of Indian Industries, West
Bengal, estimates companies operating in
IoT space to generate $750-900 million
from east India alone. The overall IoT
industry in India is estimated to be
around $15 billion by 2020.
The projected increase in revenue (on average) from now
to 2020, for specific industries, at a global level, are:
Research firm IDC forecasts that the worldwide market for
IoT solutions to touch the following figures:
enterprises already have IoT
initiatives in place to under-
stand customers better, espe-
cially the products they buy,
and the locations they buy
enterprises use IoT
technologies to monitor
production and
distribution operations.
enterprises use IoT to
grow their service
business
The Internet of Things
How revenueis driven
Through mobile
apps in smart-
phones,tablets,
and other mobile
devices: 46.5% of
companies
To track product
flow to customers,
in production &
distribution:
44.9% of compa-
nies
By embedding digital
sensors in products,
and receiving data
from such sensors
pertaining to perfor-
mance of the product:
25.5% of companies
01 02 03
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Industrial
Manufacturing
27.1% 19.4%
High tech
industries
18.9%
Banking &
financial services
Media &
entertainment
16.5% 15.6%
Travel,
transportation &
hospitality
15.3%
Telecommunications
15.1%
Insurance
14.6%
Energy
Consumer goods
(packed)
14.5% 13.9%
Utilities
13.3%
Retail Automotive
12.3% 12.3%
Healthcare &
life sciences
$