With more than 50% of connected devices set to be deployed in business settings, the IoT market is estimated to exceed US$1trillion in value by 2025.

According to the report by forecasts, the market will shift away from connectivity, instead, it will shift its focus towards services, platforms and applications.

More than two-thirds of this market share will fall on platforms, applications and services, while professional services, including system integration, managed services and consulting, will account for the remaining share.

Vertical-specific applications

The report found that those deployed within enterprises of vertical-specific applications will account for more than 50%, while the Asia Pacific region is estimated to become the largest region both in terms of revenue and number of connections, accounting for 35% of revenue worth US$386 billion, and 44% of connections worth US$11billion.

Connectivity revenue will grow throughout the decade, but this will only account for 5% of the trillion-dollar revenue opportunity projected.

The IoT market has been expanding into a variety of sectors including healthcare services. Earlier this month, a Scottish hospital began trialling IoT-powered medical beds, so these could be monitored more efficiently as they moved through the building.

IoT security issues

But as the IoT market expands, so will concerns over the growing attack surface that deploying billions more connected devices will bring, underlined by security issues involving IoT devices in recent months.

“In terms of IOT, I have recently been looking into how it is going to affect the market and the main barriers around the IOT remains security, implementation and technological fragmentation,” said Akheel Ali, Cloud Computing International.

“Horizontal management for IoT addresses several of these concerns. A standards-based, horizontal platform allows for greater access control to give control over IoT devices and sensors. Organisations are able to manage data with end-to-end authentication and scale solutions across all vertices without having to be a solution for each application.”

Written by Leah Alger

The post IoT market to exceed US$1trillion by 2025 appeared first on DevOps Online North America.

For devices to securely communicate with one another, it’s created for building sensor networks, IoT solutions and automation.

Mark Powell, Executive Director for Bluetooth SIG, said: “By adding support for mesh networking, the Bluetooth member community is continuing a long history of focused innovation to help new, up-and-coming markets flourish.

“In the same way the connected device market experienced rapid growth after the introduction of Bluetooth Low Energy, we believe Bluetooth mesh networking can play a vital role in helping early stage markets, such as building automation and wireless sensor networks, experience more rapid growth.”

The Bluetooth mesh will deliver:

• Reliability: Enables inherently self-healing networks with no single points of failure
• Scalability: Supports thousands of nodes with industrial-level performance
• Security: Provides industrial-grade security for protection against all known attacks whilst working with products from different vendors
• Full-stack solution: A unique full-stack approach that defines the low-level     radio up to the high-level application layer, ensuring all aspects of the technology are fully specified
• Interop-centric specification: Comprehensive, multi-vender interoperability testing is conducted during the specification development process, not after specification release
• Time-tested tools and processes: A 20-year history of delivering the qualification tools and processes needed to ensure global, multi-vendor interoperability

Szymon Slupik, President and CTO of Silvair and Chairman of the mesh working group within the Bluetooth SIG, said: “Within the building automation market, there is a growing focus on connected lighting and the role it can play as a platform for providing automation services throughout a facility.

“A smart lighting platform built on top of Bluetooth mesh networking can also support asset tracking, point of interest, and way-finding services. These value-added capabilities are part of why we believe Bluetooth is an ideal technology for enabling a mesh network.”

Written by Leah Alger

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