Much has been said in recent years about the Internet of Things. Given its generalized use in a large part of society and thanks to its enormous market projection in the short, medium and long term, it is clear that it was going to arouse the interest of startups. Here’s an outlook into this field to better understand the new proposals that will be developed in the coming years.
What is the Internet of Things?
First of all, it is important to understand what is called the Internet of Things, abbreviated as IOT. We are facing a very interesting technological concept which is worth familiarizing ourselves, since it will soon form a very large part of our day-to-day activities.
This concept (IOT) defines the linking of everyday objects with the Internet. That is, the introduction of elements that improve their functions and usefulness through connection to a network.
Obviously, not all the objects we have at home are designed to link to the Internet. This will hardly mean any substantial improvement to things like the kitchen sponge. However, many of them are suitable to offer a functionality never before imagined decades ago, such as the television, the refrigerator, the alarm, the oven, or even smaller elements such as an electric toothbrush, a razor, etc.
Why are startups interested in the Internet of Things?
It is clear that in the future, more and more objects will be interconnected and linked to the Internet. So, it is clear that we are facing a field that is beginning to emerge and has many decades of development ahead.
Many companies are realizing the intrinsic value that internet of things can have for them and consumers when paired with the technology we use every day. It enables organizations to analyze, stream and act on device data dynamics in real-time. It also allows multiple devices to be linked to create digital systems that work together for a common purpose.
Startup companies looking to develop IOT ready devices only need an idea that is useful, an object of daily use and a project that allows linking both together. Offering interesting elements that can range from a simple but interesting gadget to a very useful system that much of society will not be able to do without.
It is important to note that the IOT is considered the fourth industrial revolution due to the great change it will entail in the coming years. The IOT Network is expected to become the axis of management of all types of machinery, computer equipment, objects and data.
Because of this, it offers a very lucrative field of action, focusing on both individuals and companies. Although there is great competitiveness in the market, there are also endless possibilities and opportunities for any person or team that has an interesting idea and is prepared to develop it and take it to the market to get it to maximum dissemination.
How much is the IOT Market worth?
It is projected that the IOT market will reach a value of $900,000,000 by 2025, and that in the coming years its growth will be more pronounced. So, it is undoubtedly a key sector in which it is worthwhile for tech experts to consider developing ideas and promoting the birth of new startups of the future.
The interest of startups in the Internet of Things is allowing new very interesting possibilities to open up in the Tech industry. We hope this article helps more people to understand an advancement that will undoubtedly change all facets of our lives, from work to studies, through our private life and leisure.