IT analyst firm 451 Research has forecasted the growth of cellular network-based connections for IoT-devices as anticipation surrounding the tech continues to grow. It also reckons wearable tech as a major enterprise tool will become reality in the next 12 months.
According to the firm, the telecoms industry can expect a nigh on four-fold boom in cellular IoT connections between 2014 and 2019, growing from 252 million to 908 million globally. The firm reckons such growth comes down to several key factors, primarily the ease of access to and reduced costs of hardware and broadband for enterprise customers. Secondly, the maturation of cloud, data management and analytics platforms means machine-generated data can be hosted and utilised quicker than in previous years.
Finally, 451 also attributes increasing M&A activity as a positive influence on the developing IoT market, with the ongoing vendor land-grab driving advancements in technology.
“We continue to be bullish that ultimately the hype of IoT will be proven to be warranted back on business impact,” said Brian Partridge, 451’s research VP. “Over the forecast period we expect that M2M/IoT solution suppliers will find fertile ground in vertical markets such as retail and government that will adopt IoT/M2M to enable strategic digitization strategies such as smart cities and the use of digital signage, mobile point of sale, and connected kiosks to drive the transformation from brick and mortar to ‘click and mortar’.”
Simultaneously, Harbor Research has revealed some numbers forecasting the profitability of IoT applications, claiming 80% of IoT apps will be generating revenue for users within the next three years. At present, its survey suggest, 65% of apps are money making.
451 Research also looked into the use of wearable tech in the enterprise, and said that 39% of the IT decision-makers it quizzed will be deploying wearable tech solutions in the next six months, with another 24% following within a year. Of those deploying in the next six months, 81% identified smart watches as their wearable tech of choice.
“The release of Apple Watch has opened the flood gates governing wearables’ adoption,” said Ryan Martin, who’s an IoT and wearable tech analyst at 451. “Not now that the river is running, it’s less about where it will end and more about where – and when – to start. We expect wearable technology to deliver a key interface and input into the Industrial Internet of Things”.
To go alongside its research, 451 produced this handy market map for the IoT ecosystem.