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IoT: Wired Wirelessly

Did you realize? Your mobile phone is soon becoming the universal remote control of the Internet of Things. You are wired wirelessly and connected while mobile. Technology is magic, agree? So to conclude, you are mired in technology and the only way out is embrace it wholeheartedly!

The Internet of Things (IoT) is beginning to grow significantly, as consumers, businesses, and governments recognize the benefit of connecting inert devices to the internet.
And, LYCOS, the company we have been following seems to be a part of this big growing market. The company’s press release last week indicates an IoT product coming out soon. As always, LYCOS never disappoints its customers, partners and investors.
Lycos

New startups and large corporations that are eager to be a part of what could be a huge market, and all sorts of enabling products and technologies, are all jumping into the burst of activity and creativity that is getting entrepreneurs, VCs and the press equally excited.

As the BusinessInsider states,
The Internet of Things will be the largest device market in the world. By 2019 it will be more than double the size of the smartphone, PC, tablet, connected car, and the wearable market combined.

The IoT will result in $1.7 trillion in value added to the global economy in 2019. This includes hardware, software, installation costs, management services, and economic value added from realized IoT efficiencies.

Device shipments will reach 6.7 billion in 2019 for a five-year CAGR of 61%. Revenue from hardware sales will be only $50 billion or 8% of the total revenue from IoT-specific efforts, as software makers and infrastructure companies will earn the lion’s share.

The main benefit of growth in the IoT will be increased efficiency and lower costs. The IoT promises increased efficiency within the home, city, and workplace by giving control to the user. However, many are hesitant to use devices as security problems are still an issue.

The IoT lacks a common set of standards and technologies that would allow for compatibility and ease-of-use. There are currently few standards (or regulations) for what is needed to run an IoT device. Consortia that group together global industrial, tech, and electronics companies are involved in an effort to standardize the IoT and solve the most pressing security concerns.
Lot-Value

Internet of Things developer tools and products are now available. Apple, for instance, has released HealthKit and HomeKit developer tools as part of its latest operating-system upgrade, and Google acquired Nest to catalyze the development of an Internet of Things platform and applications.

Demand for the first generation of Internet of Things products (fitness bands, smart watches, and smart thermostats, for instance) will increase as component technologies evolve and their costs decline.

 
 

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