{"id":6334,"date":"2016-05-27T07:00:55","date_gmt":"2016-05-27T15:00:55","guid":{"rendered":"http:\/\/formtek.com\/blog\/?p=6334"},"modified":"2016-04-22T07:26:19","modified_gmt":"2016-04-22T15:26:19","slug":"internet-of-things-iot-to-bring-economic-and-technological-innovation","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/internet-of-things-iot-to-bring-economic-and-technological-innovation\/","title":{"rendered":"Internet of Things: IoT to Bring Economic and Technological Innovation"},"content":{"rendered":"

Expectations are high for the Internet of Things (IoT). \u00a0Gartner has forecast that the IoT industry will reach $1.9 trillion by 2020<\/a>. \u00a0Intel says that in 2015 we already have 15 billion devices<\/a> that are connected to the internet. \u00a0In a recent review of the state of the IoT market<\/a>,\u00a0Verizon reports significant growth in IoT networks in 2015, an annual growth of 58 percent.<\/p>\n

The Verizon report said that”in our view, 2015 was the year IoT gained legitimacy. \u00a0Companies across all industries now have IoT squarely on their radar, which explains the projected 17% jump from 9.7 billion connected devices in 2014 to more than 25.6 billion in 2019, hitting 30 billion in 2020.”<\/p>\n

Jamie Davies<\/a>, deputy editor of Business Cloud News, said that<\/a> \u201cIoT is no longer a nice idea, it\u2019s becoming mainstream.\u00a0If 2015 was the year IoT gained credibility in the business world, 2016 is the year IoT gains commercial feasibility.\u201d<\/p>\n

Ed Ruth<\/a>, a director at Verizon Ventures, said that<\/a> \u201cwe\u2019ve become very aware over the last 5 to 7 years that the cost of entry and barrier to building something very innovative and even destructive in the market has gone way, way down, so you now see a lot of innovation and R&D happen outside the four walls of big corporations. \u00a0This is very much a big part of our innovation program.\u201d<\/p>\n

Mike Lanman<\/a>, SVP IoT and enterprise products at Verizon, said that <\/a>\u201cthe view has been that IoT is a mashup of complex technologies used only by early adopters. \u00a0In the past year, we\u2019ve seen compelling examples of how IoT is being deployed by a wide range of enterprises, entrepreneurs, municipalities and developers to address relevant business, consumer and public needs.\u00a0Meanwhile, consumers are more willing to try new technologies and apps that introduce a better way of life. \u00a0The end result will not only give rise to thousands of new use cases over the next two years, but will also create an accelerated pipeline for innovation and a new economy.\u201d<\/p>\n

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Expectations are high for the Internet of Things (IoT). \u00a0Gartner has forecast that the IoT industry will reach $1.9 trillion by 2020. \u00a0Intel says that in 2015 we already have 15 billion devices that are connected to the internet. \u00a0In…<\/span><\/p>\n

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