Much of the innovation in IoT is fueled by young, dynamic companies and the “maker generation”

Much of the innovation in the Internet of Things (IoT) is being fueled by young, dynamic companies, and the “maker generation.” In fact, Gartner predicts that by 2017, 50 percent of IoT solutions will originate in startups less than three years old.

Recent startups, highly focused on one or two products or services, are competing with traditional giants to bring IoT products to business and consumers. They use cloud services by default to provide data analysis, interactivity and customer services, and interact with users through smartphone apps to minimize costs and maximize flexibility.

There is substantial growth in makers (companies or individuals who leverage 3D printing and other technologies to create their own markets within the IoT). As a result of modern IT infrastructure, easy access to engineering services, and simpler supply chain lines to Asian manufacturers almost anyone can create IoT solutions driven by either market need or pure imagination to create new niches and address consumer or business needs.

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Much of the innovation around IoT comes from startups focused on the consumer market; however, the majority of the technology developed by these companies can find use in other sectors, including commercial and industrial IoT applications.Read more

Source: forbes.com; image: mobilelabs.com.pl