By
Mayowa Adebajo
January 30th, 2024
As far as IoT industry is rapidly developing, investors need to start taking note of the IoT right now.
Rapid development of such modern technologies as robotics, artificial intelligence, machine learning and Internet of Things (IoT) make services more automated. The productivity grows while the need for many workers performing mechanical and repetitive tasks disappears.
The IoT is one of the disruptive opportunities for technology companies. It is a modern way to connect the physical world to the internet and erase the boundaries between them.
According to the recent Mckinsey report, the potential of the IoT industry might be underestimated. It has a total potential economic impact of $3.9 trillion to $11.1 trillion a year by 2025 equivalent to about 11% of the world economy.
While the IoT industry attracts significant investments nowadays, here is a list of 5 most profitable companies to invest in 2017:
Amazon
A Seattle-based electronic commerce and cloud computing company, Amazon is the largest Internet-based retailer in the world by total sales and market capitalization.
At the end of 2016, Amazon offered its customers the world’s first grocery store that features no checkout line. With the new option, customers got an opportunity to enter the store using an accompanied app, grab the items they need, and walk out without stopping at a register. Called Amazon Go, the technology is considered to be “the world’s most advanced shopping technology.”
IBM
IBM is a multinational technology company with operations in over 170 countries. The service portfolio of the company impresses. Alongside IoT, it includes cloud computing, cognitive computing, commerce, data and analytics, IT infrastructure, mobile, and security. Currently, IBM holds a patent regarding data filtering in Internet of Things devices, which describes a process in which devices receive and interpret information. This patent puts IBM amongst the frontrunners in IoT.
Recently, IBM and the BMW Group partnered to explore the potential of Watson cognitive computing. The companies aim to create more intuitive driver support systems for cars of the future personalizing the driving experience in general. Interestingly that IBM’s Watson has recently been included in the list of most popular Internet of Thing’s platforms.
Alphabet
Alphabet Inc. is an American multinational conglomerate, the parent company of Google.
In early 2014, Alphabet acquired Nest for $3.2 billion in early 2014, and since then the brand has become one of the biggest names in home automation with its smart thermostats, smoke detectors, and safety cameras.
Apple
Apple holds a patent named “Local Device Awareness”, which describes an automated relationship between multiple close-range devices. The technology could be used for position tracking, such as finding a lost remote control, or even proximity-based virtual reality, like a video game that depends on one’s actual position in a room.
Cisco Systems
Cisco Systems offers a number of services ranging from network connectivity to data storage, from analysis and management to automation and security of data. The company unveils that 95% of the business executives plan to launch an IoT business within three years. When Cisco acquired industry leading IoT service platform Jasper last year, it only strengthened its IoT foot holding.
Cisco has already an impressive customer database:
BC Hydro, a Canadian utility company, employs Cisco Field Area Network and fog computing solutions to develop an IP-based, multi-service network to control smart meters, DA devices, and other grid endpoints.
The city of Mississauga, Canada’s sixth largest municipality, delivers city-wide Wi-Fi, connects its transit systems, modernizes buildings, and offers an intelligent streetlight system on the basis of the Cisco IoT System.
IoT future
It is already clear that the IoT is capable of transforming the consumer electronics industry as we know it. The growth of the market will be another indication of humanity’s expansion into an autonomous world, and investors need to start taking note of the IoT now.
