While bitcoin price is going to hell and everyone is speaking of this let’s take a look on the other topic that deserves increased attention – Internet of Things. We will give you figures and you will manage to make your own conclusions.
Nowadays capitalization of bitcoin makes up around $3,1 billion while IBM alone is planning to invest $3 billion in Internet of Things in the next 4 years. The sphere looks so promising that it’s worth looking at it closer.
For those who are unfamiliar with this new phenomenon the term Internet of Things is used for the whole variety of interconnected technologies. The idea of smart homes and smart offices appeared not long ago and has already caught the minds of world’s leading businessmen. In our age when people start caring about environment, IoT gains overall attention. If subjects at your home or office are connected to each other and as a result “help” each other to work at the highest level of efficiency, it saves energy and reduces costs.
Anthony J. James, Chief Innovation & Growth Officer at DDB Group Asia Pacific, underlines that not only customers can benefit from the new technology but marketers will take advantage of possibility to predict when a customer will need a particular service or product. He writes that IoT is “all about efficiency; of data intelligence, of fulfilling customer needs, and of customer acquisition. The marketing community needs to move from considering the Internet of Things as an intrusive and difficult content platform for messaging, to understanding its power as in making marketing simpler.”
IoT is believed to step in the sphere of medicine as well. The development of systems containing all available medical information will enable people take more control over their health. It doesn’t mean encouragement of self-diagnostics but allows patients to be an active part of the data collection process.
There is still a great range of questions concerning IoT – including security, information privacy and the role of technologies in our life – but the fact of overall interest is hard to deny. According to statistics provided by McKinsey IoT market is possible to make up $11 trillion by 2025 (although the figures published recently by International Data Corp predict only $1.7 trillion by 2020).
The report states: “Our central finding is that the hype may actually understate the full potential of the Internet of Things – but that capturing the maximum benefits will require an understanding of where real value can be created and successfully addressing a set of systems issues, including interoperability.”
Thus IoT is definitely worth giving a chance and the success will depend on how smart the use of its potential will be.