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IoT: Should You Invest?

If you have been following tech industry news at all recently then you have no doubt heard of the Internet of Things, or IoT. The simple explanation for this recent boom is that there have been a number of developments in the tech industry that have made the technology more feasible. First though, what is the Internet of Things?

In short, it’s a network of devices that are connected via the internet and can share data between nodes. This would essentially mean that all the devices and utilities in our lives would be connected to one another allowing us to be in constant communication with our digital selves. Of course, the benefits extend far beyond that and have incredible repercussions for the advancement of the technology.

A truly connected world would make our data safer and provide us with an immediate portal to the internet that companies could use to advance all technology dramatically and in a short time. This has raised concerns of course, but, the IoT boom would actually lead us to a world of affordability and not susceptibility.

In this article, we will analyze and investigate IoT and explain why you should invest in this burgeoning technology that is already leaving its mark.

A Growing Solution

The Internet of Things is a rapidly skyrocketing idea that has a hand in almost all other tech related fields. If a business releases a gaming console that connects to the internet and communicates with a server then it is technically part of IoT. However, the real goal is to have said gaming console communicate with other devices in your home to accurately retrieve data and form an experience that is unique to you. Now that goal is a bit loftier but surprisingly not too far away.

Ideally the emerging IoT industries will impact every industry and our personal lives in a huge way to make sure that we are in full control of our lives and that we are getting all the personalized material that we can possibly handle.

In other words, it is an absolute dreamscape for companies and marketers alike. It has the ability to make life easier for all of us while simultaneously giving unprecedented access to the behaviors of people in their everyday routines.

This makes it an ideal investment for anybody interested in making money via traditional business methods like advertising and data selling. The ingrained benefits of its development help to make IoT a worthy investment in any form.

IoT: Fast and Furious

One of the most remarkable things we have seen with IoT is the rate at which companies are adopting this technology. This is primarily due to the fact that businesses do not have much of a choice when it comes to IoT as almost all new business tech has some aspect of interconnectivity to it.

This is in stark contrast to technologies like Blockchain which has suffered some setbacks due to the confusion surrounding its use and Bitcoin. IoT will affect all business technology and the rate at which companies are integrating connectivity is truly remarkable.

It is estimated that by 2020 there will be over 20 billion smart devices that have some element of connectivity to them. This means that the growth potential of IoT is nearly unlimited as that number will only continue to grow past all expectations.

Soon, with the proliferation of advanced autonomous vehicles and smart homes, every person will have at least 3 devices that connect to the internet and most will have over 5. Those are per person stats that would make anybody sweat. This means that IoT will influence all industries leaving the opportunities wide open for investing.

Conclusion

Whether you are on the fence about IoT or not, it is undeniably a good investment with completely unstoppable growth potential and the ability to impact every industry in the world.

It will become an essential technological ideology in the years to come and has already begun to impact our lives with the evolution of smart home technologies and interconnected nodes. Like it or not, the Internet of Things is coming, and it seeks to disrupt all facets of our lives forever.

About the Author

Josh Althauser is an entrepreneur with a background in design and M&A. He’s also a developer, open source advocate, and designer. You may connect with him on Twitter.

 

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