Do you think the Internet of things (IOT) has entered your life? Then please think again. If you use an intelligent thermostat to remotely adjust the temperature at home, you are using the Internet of things. If you use the electronic road pricing (etc) service and don’t have to stop at the toll booth to pay while driving, you are using the Internet of things. If you use the apple watch to connect to another device, you are also using the Internet of things.
The applications of the Internet of things are so colorful that most people may not be aware of how this technology enters their lives. The Internet of things has made great development and is expected to become more and more important and become a part of our daily life. You may ask, how important is it? A study estimates that there were 2 billion IOT devices in the world in 2006, and it is expected that the number of IOT devices will increase to 200 billion by 2020. Are these data still not surprising? No problem. There are many aspects to see the great potential of the Internet of things.
1. The Internet of things market will exceed US $1 trillion
As more industries seek Internet of things technology applications, the machine to machine communication market is growing explosively. According to fortune business insights, the market will continue to develop, and the market size will exceed US $1.1 trillion until 2026. Of course, there is no need to make a fuss about this market size, but it will be even more incredible if you look at the estimated market size of US $190 billion in 2018. If the Internet of things market can achieve the expected scale in 2026, that is, the CAGR from 2018 to 2026 will exceed 24%.
From the prediction of the research company, we can see the trend of this market to some extent, but if we look at the leaders of the industry, we can see how fast the Internet of things market is growing from another angle. Intel (Intel) is one of the leaders in the Internet of things. Relying on quark, atom, core and xenon processors, the company provides a wide range of technical solutions covering a wide range of applications, including smart city and medical industry. The company reported in 2019 that the revenue and operating revenue of its Internet of things business both set new records. According to the company’s 2019 annual performance report, the Internet of things business has “an average annual revenue growth rate of 14% and an average annual operating revenue growth rate of 22% over the past five years”.
2. The Internet of things is the driving force of transportation in the 21st century
In the past, the most complex part of a car was the engine, but this era is long gone. Today, technicians need to know much more than how to replace the engine and fuel filter, because the current vehicle may have up to 50 computing systems to help you drive from point a to point B. In addition to autopilot, one of the applications of the Internet of things includes predictive maintenance, that is, from time to time to assess vehicle conditions and predict when maintenance is needed. For example, IBM provides Maximo asset performance management technology solutions to help predict when maintenance is required. According to blue blue, the predictive maintenance function can reduce the maintenance cost by up to 25% and reduce the part failure by 70%.
Another application of the Internet of things is networked vehicles. Cars can communicate with each other, which is an indispensable technology for automatic driving. Cisco acquired Jasper, the leading platform of cloud Internet of things, in 2016, which has gained great advantages in this field and even ranked among the best.
In an exclusive interview with ZDNet, Tom Fisher, managing director of Cisco Jasper Australia and New Zealand, said: “in fact, Jasper is the backing of global automobile manufacturers… Any enterprise involved in the field of networked vehicles. More than 50 brands around the world are using our control center.”
3. Internet of things leader loves blockchain
For most enterprises using Internet of things technology, the application of blockchain is very important. According to Gartner’s survey of more than 500 U.S. companies, 75% of the companies that have implemented Internet of things technology solutions apply blockchain technology at the same time or plan to implement blockchain strategy in the next 12 months. Although the surveyed enterprises admit that improving business efficiency and revenue are the two major factors that encourage them to adopt blockchain technology, 63% of the surveyed enterprises combined with Internet of things / blockchain projects mainly consider “improving security and credibility in transactions and data involving multiple parties”.
4. Internet of things devices will generate nearly 80 ZB data in five years. How much data is ZB equivalent?
According to the estimation of international data information (IDC), the Internet of things equipment will generate 79.4 ZB data in 2025. By definition, ZB is equivalent to 1 trillion gigabytes (GB). According to IDC’s report, Carrie MacGillivray, vice president of Internet of things, 5g and mobile phone, said:
As the market matures, the Internet of things is becoming more and more pervasive, facilitating the exchange of information among “objects”, users and processes. The data collected, processed and used from the nearest and farthest edges of the network has become a common standard, which can create value for all walks of life, government and personal life.
Due to the generation of massive data, data center leaders such as Equinix are providing computing technology solutions, not only to cope with the cloud computing market, but also to meet the increasing demand for edge computing. According to the company, Equinix cloud exchange fabric “allows any customer to flexibly connect their own infrastructure through our more than 190 IBX data centers, or connect with any other customer on Equinix’s global platform, regardless of location constraints”, which can support the Internet of things ecosystem.
If investors are interested in the Internet of things, how to deploy it?
From all aspects, many indicators have proved that the Internet of things is huge and will continue to flourish. If these data are taken as a whole, it is incredible how the Internet of things will go far and deep into our lives. Therefore, if investors are open-minded and eager to try the potential of the Internet of things, it is worth noting the leading equipment suppliers behind the Internet of things technology solutions, such as Intel, IBM and Cisco, or front-line data center service providers such as Equinix.
Editor in charge: PJ