The Consumer IoT Market
The Internet of Things (IoT) may not be a household word, or being discussed in your management meetings, yet, but Gartner says IoT will eventually hit mainstream.
Why will it hit mainstream? There are many reasons but one simple reason is that most people are using the internet and mobile phones. The quintessential “things” are the mobile phone, tablet and computer and they’re always connected.
Consider these 2017 stats:
- 84% of households in developed countries have Internet; 43% do in developing countries
- Mobile-broadband subscriptions have grown more than 20% annually in the last five years and are expected to reach 4.3 billion globally by end 2017
- 8.4 billion connected things will be in use worldwide in 2017, up 31 percent from 2016, and will reach 20.4 billion by 2020.
- Total spending on endpoints and services will reach almost $2 trillion in 2017
Consumers are now adopting newer types of internet connected devices, beyond their mobile phones too. They are using IoT devices (sensors, watches, cameras, fridges, toothbrushes … etc.), with their smartphones and special purpose apps to monitor their health, protect their homes and even feed their pets! The consumerization of this next generation of technologies is well on it’s way.
The Industrial IoT Market
You may be wondering what the Industrial Internet of Things has to do with the consumer side of the market. What does a factory floor production line have to do with consumers using connected products like a FitBit or Ecobee Thermostat? The answer is the consumerization of technology.
In June the iPhone turned 10 years old. When Steve Jobs announced the iPhone it was seen as a consumer product . It was easy to use, looked nice and had “apps” so you could use the phone for all types of things that were fun but it wasn’t for work
In fact, IT departments in many companies dismissed the iPhone as a gadget and not practical for corporate employees. That’s until the CEO got her hands on it and said “I want to use one of these for work”. While special exceptions were made for some executives, the corporate IT departments continued to resist deploying iPhones across the enterprise.
Fast forward to 2017 and we all know what happened! Many companies have implemented BYOD (bring your own device) programs and the iPhone is one of the most successful technology products ever made. They are being used widely for work and personal use.
For more about the iPhone’s 10 year history read ZDNet’s article: Apple’s iPhone turns 10: Here’s how the device impacted business, work.
Because consumers are becoming more tech savvy and proficient they are adopting new products and technology more rapidly and expect the same to happen in their work environment.
While IIoT adoption is at the very early stages there is no doubt that tech savvy employees, executives and industries are curious about the potential of connecting things, gathering data and monitoring processes, production lines, industrial control systems and PLCs to name just a few “things”.
There’s no doubt that the Industrial Internet of Things represents opportunity for companies. The question is not so much whether they should adopt it but whether they can and if they’re going to be ready when employees and customers demand it.
Can training be an effective means to speed up the adoption of the Internet of Things, for both customers and employees? Contact Enable Education to learn how it is, and how you can incorporate it into your enterprise to be ready for the IoT.