“Internet of Things” Economy Set to Grow at Rapid PaceAugust 10, 2014 - 2 minutes read
Analysts have predicted that the long-heralded “Internet of things” will feature a whopping 50 billion connected devices by the year 2020, which will generate $7.1 trillion in related revenues. While the actual consumer market has yet to show tangible and visible signs of embracing the kind of growth that will make these numbers possible, that is likely to change very soon, and in a big way.
Looking at trends among major long-term investors in the technology market, it’s clear that more and more experts are placing their bets now, so to speak, hoping to get in on the ground floor before the much-ballyhooed explosion finally arrives. Over the past three fiscal quarters, major investors have ponied up in a big way, sinking nearly $4 billion into companies expected to lead the “Internet of things” charge.
Another pattern shows that money which would normally have been invested in publicly traded tech companies is being redirected into private venture capital development. This implies that the biggest gains in the Internet of things market could be with companies that are currently flying under the proverbial radar.
Underlying the hard numbers is a telltale trend: there is intense competition among Internet of things market players to attract major investors, and the number of so-called “investable dollars” being put into the vertical has increased enormously. That, in turn, signals a very real perception among brokerages and investment houses that the Internet of things is going to yield a major return sooner rather than later.
If you’re part of a mobile app development company in San Francisco, you should be carefully investigating the Internet of things for unique and potentially profitable opportunities. The range of possible applications is virtually limitless, and creative software development could prove to be extremely lucrative in the not-too-distant future.
Internet of things app developers are poised to become major players in the software development market. If you’re looking to diversify your skill set or expand into new areas, the Internet of things is a place you should definitely look.Tags: connected devices, internet of things, internet of things start-up, mobile connected devices, smart grid, smart home, smart tech, vc funds, vc investment