EIoT Sector to Represent 40% of the IoT by 2019
Adding network connectivity to everyday objects ranging to anything from printers to coffee pots to cars is an ongoing trend in the world today. Dubbed the Internet of Things (IoT), the trend is powered by wireless technologies like Wi-Fi and Bluetooth Low Energy (BLE). As the name implies, the IoT is an overarching trend that has the potential to connect everything in virtually every market. However, according to an article by BI Intelligence, a research service from Business Insider, there are three core sectors of the IoT: enterprise, home, and government, with the Enterprise Internet of Things (EIoT) being the largest of the three. According to the article, this is because businesses have the resources to purchase IoT devices and services on a large scale and will see the benefits from the EIoT accrue fast enough to spur further adoption and investment.
An estimated 23.3 billion IoT devices will be linked by 2019 throughout all areas with the EIoT market accounting for nearly 40%, beating out the other two sectors. BI Business predicts that the EIoT alone will be greater than the mobile market, with the EIoT being much larger than the complete combination of smartphone and tablet markets in 2019 which is projected to have nearly 6 billion devices.
Additional significant discoveries from the report include the following:
- The amount spent on enterprise IoT products and services will top $255 billion worldwide by 2019, an increase from $46.2 billion this year. This signifies a 5-year CAGR of 40%.
- Providers of enterprise IoT software will be compensated much more than IoT hardware providers. Software and services sales within the enterprise IoT sector will scope $43.9 billion towards the end of the year, while hardware will generate about $2.3 billion in revenue.
- Within the next five years, segments including manufacturing, transportation and warehousing, and information will invest the most in IoT systems. Manufacturers are industry leaders using IoT devices and the total estimated IoT investment will hit $140 billion
Technologies such as BLE and Wi-Fi will lay the foundation for the EIoT. As mentioned in a previous blog post on BTv4.2, the latest Bluetooth specification was released earlier this year and offers faster data transfer, lower power consumption, and increased security and privacy. The new Bluetooth specification features necessary flexibility and support for developers and consumers everywhere. Laird's BL600 Series and BT900 dual-mode modules are unique among BLE modules because they provide enhanced security and feature the smartBASIC programming language. Wi-Fi modules make for excellent IoT solutions because they come equipped with integrated security specifically designed for the enterprise network. Not only are Laird's Wi-Fi modules at the forefront of security, but every reliable Wi-Fi network connection can be secured with APA1-Enterprise (IEEE 802.11) security and authenticated using one of six popular EAP (802.1X)types. Laird is looking forward to what is next for the EIoT and will be supporting upcoming projects on the IoT front.
Visit the Embedded Wireless Solutions webpage to find out if Laird’s Wi-Fi or Bluetooth product offerings are the right fit for your IoT implementation.