People’s interest in the Internet of Things technology and the goods and services created with this technology is increasing day by day. So, the Internet of Things market is growing in a remarkable way. It is important to learn and research about these markets. Iot devices definition before moving on to the market description should be useful.
What is the Internet of Things Technology?
The internet of objects is a communication network in which physical objects are connected to one another or larger systems using sensors and an internet connection. According to the analysis company Gartner, the number of connected devices will reach 26 billion by 2020. According to some studies, this figure is expected to reach 100 billion.
Any device that can connect to the Internet and be remotely monitored and controlled is included in the IoT device class. In this context, both our mobile phones and the televisions that can connect to the internet are actually IoT devices. The first applications of this system were shown in 1980 as a Coca Cola vending machine, the first smart IoT device in the café of Carnegie Mellon University.
Iot devices appear in all areas of life. It makes our lives easier and gives us savings on many issues. Smart home systems, for example, are the best things that can bring comfort to a person’s life. A house that records your wishes. A system that adjusts the temperature of your home for you. Applications that you can control your home even when you are not at home. These are the comfort that the Internet of Things technology offers to human life.
Smart devices used in the home also serve you with many interactions. For example, you can find a recipe for a food of your choice in your refrigerator, and when you select this recipe, you can expect your oven to set the appropriate temperature. There are also smart mirrors, smart furniture, smart televisions, and many other iot devices that give you a lot of comforts.
IoT devices have also offered many solutions in the health and medical field. It has provided many benefits such as diagnosing the hospitals, early diagnosis and assisting the solution of the diseases. Other benefits of the Internet of Things technology-based devices in the industrial field are in the agricultural sector.
Many solutions in the agricultural sector provide convenience and productivity increase. For example, fertilization and irrigation are easily handled using this technology. Smart homes and benefits in many sectors, as well as the formation of smart cities, have emerged thanks to this technology.
Smart transportation, smart traffic rules, smart lighting, smart buildings, smart bridges are in this category. The formation of smart cities provides an atmosphere of confidence and comfort. In addition, it prevents environmental pollution, saves energy and helps the development of cities.
While IoT technology and iot devices have such great benefits, it is normal for their markets to grow. These markets evolve depending on human needs and technology. It is the dream of all goods and service providers to take part in the Internet of Things technology market. Of course to have a large share in the market.
For this, technology should be closely monitored. Who has a say in this market and what they are doing should be well known. So market research should be done very well. Because the number of devices created using the Internet of objects technology is increasing day by day.
Find Out More About IoT Devices Market
After giving information about iot devices, we can move on to the market. 5 things you should know about iot devices market:
1- According to research, Internet of Things technologies will have a market of $ 267 billion in 2020.
2- Transportation, logistics, production, infrastructure services will constitute 50% of all expenditures in the market.
3- In the iot market, the value of implementation expenditures alone is predicted to be 64.1 billion dollars by 2020.
4- According to the researches, there will be high expenditures in the field of services. A market of over $ 64 billion is expected.
5- The amount to be spent on software is estimated to be 21.4 billion dollars.
Worldwide IoT Market
According to research conducted worldwide, in 2015 and 2020, ioT income is expected to increase by twenty percent annually. Cisco predicts that by 2020, 50 billion devices will be interconnected. Intel thinks that this figure will reach 200 billion. According to research conducted worldwide, it is emphasized that iot will increase the market volume by 6 times. Iot investments are increasing day by day.
China is the leader of the iot market. China is lagging behind all countries in the field of iot. Government support is very important in China’s development in this area, which constitutes one-third of the iot market.
It is thought that the internet technology market of objects will be 410 billion dollars by 2022. Storage needs are emerging for this new and growing market. It is thought that the market share of the sector which is formed by using internet of objects in the field of health will be 1.5 trillion pounds in 2022. The fact that the innovations in the field of health are very important and give positive results to human life has enabled this sector to develop.
Iot technologies have become a trend in recent years and have increased their market share by gaining a place in all sectors. Companies that want to maintain and increase their market share in the sector should be interested in innovations and include the internet of objects in every field. Depending on the development of technology each year, a lot of iot-based products emerge. It is now the curiosity of people to know which products will be introduced.
Innovation is the most important issue for companies. Companies are competing in innovation. This leads to the formation of many more products. There will be many products that will affect human life, change their habits, improve the quality of life and provide convenience in many areas.This situation necessitates serious efforts by companies wishing to increase their market share.