Welcome!

Java IoT Authors: Yeshim Deniz, Elizabeth White, Dana Gardner, Destiny Bertucci, Jignesh Solanki

Related Topics: @ThingsExpo, Java IoT, Mobile IoT

@ThingsExpo: Blog Post

Can We Predict the Size of the Internet of Things Market? By @JHurwitz | @ThingsExpo [#IoT]

The reality of the growth and impact of this market will depend on many factors

Can We Really Predict the Size of the Internet of Things Market?

I had a very interesting discussion the other day with an executive for a technology company. He had just come from a presentation about the Internet of Things (IoT) market. The presenter projected that the market would be valued at around $7 trillion market within the next decade. What did I think about this projection? Is it correct? Is this the true size of the market? Now, as a disclaimer, I don't do market sizing. I assume that those smart people who figure out how big or small a market will be use sound judgment. However, I don't think that as we sit at the dawn of this new era we can truly project the financial impact of the IoT new market. The reality of the growth and impact of this market will depend on many factors. For example, can we anticipate new types of sensor devices that will emerge? Can we project the new uses that smart entrepreneurs will discover that we can't even imagine today? What ecosystems will emerge to take advantage of the platform and the resulting data? Likewise, we also cannot know the potential inhibitors of growth of the market because of unknown factors such as security. What are the unintended consequences of the use of sensor data?

To explain my thesis let's look at one of the most profound innovative markets - the commercialization of the electric light. If a market researcher were to project the number of light bulbs that would be sold over the following five years it would not have been that impressive and the market size would have been modest. But the commercialization of the light bulb was responsible for a massive transformation of society and the invention of hundreds of new markets, new industries. Here are a couple of examples:

  • Factories could run multiple shifts all night
  • New forms of entertainment emerged because citizens didn't feel compelled to go to sleep as soon as it became dark
  • New industries such as motion pictures emerged
  • Surgery could be conducted with better procession

These are only a few examples of the image of the light bulb. The reality is that if one did a study about the size of the light bulb market it would not have mattered at all. What matters are the ecosystems that emerge from an invention. Remember that the real money made during the gold rush in the U.S. west in the 1800s was made by the entrepreneurs who sold equipment to the miners.

Let's get back to the IoT market for a moment. I assume that the predictions of a $7 trillion market projection for IoT over the next decade may not understand the depth of the impact. Let's assume that the ability to understand and analyze data from sensors becomes an important market. The companies that sell software that analyze this type of semi-structured data will make money. Let's assume that there is a market for vendors that can create a new generation of sensors that measure new types of devices. However, the market for IoT will be predicted on the types of solutions that are invented to manage everything from cities to industrial infrastructure to healthcare transformation. The transformations enabled by IoT could be far-reaching in terms of impact and market size. Just as no one could have imaged the impact that the electric light bulb would have, we may not be able to anticipate the long-term impact of IoT.

The post Can We Really Predict the Size of the Internet of Things Market? appeared first on Hurwitz & Associates.

Hurwitz & Associates is a strategy consulting, market research and analyst firm that focuses on how emerging technology solutions solve real world customer problems. Hurwitz research concentrates on disruptive technologies, such as Cloud Computing, Advanced Analytics, Cognitive Computing, Hybrid Cloud Service Management, Data Integration, Security, and Collaborative Computing. Hurwitz offers services such as customer roundtables, multi-client research studies, customer research studies, webinars, and speeches.

More Stories By Judith Hurwitz

Judith S. Hurwitz is president and CEO of Hurwitz & Associates, LLC, a research and consulting firm focused on emerging technology including big data, cognitive computing, cloud computing, service management, software development, and security and governance. She is a technology strategist, consultant, thought leader and author. In 2015 Hurwitz coauthored Cognitive Computing and Big Data Analytics (Wiley, 2015). A pioneer in anticipating technology innovation and adoption, she has served as a trusted advisor to many industry leaders over the years. Judith has helped these companies make the transition to a new business model focused on the business value of emerging platforms. She was the founder of CycleBridge, a life sciences software consulting firm and Hurwitz Group, a research and consulting firm. She has worked in various corporations including Apollo Computer, and John Hancock. Judith has written extensively about all aspects of enterprise and distributed software. Judith is a co-author of six “For Dummies” books including Big Data for Dummies and Hybrid Cloud for Dummies. In 2011 she authored Smart or Lucky? How Technology Leaders Turn Chance into Success. (Jossey Bass, 2011).

Judith holds B.S. and M.S. degrees from Boston University. She serves on several advisory boards of emerging companies. She is on the board of directors of Boston University’s Alumni Council. She was named a distinguished alumnus at Boston University's College of Arts & Sciences in 2005. She is also a recipient of the 2005 Massachusetts Technology Leadership Council award.

Comments (0)

Share your thoughts on this story.

Add your comment
You must be signed in to add a comment. Sign-in | Register

In accordance with our Comment Policy, we encourage comments that are on topic, relevant and to-the-point. We will remove comments that include profanity, personal attacks, racial slurs, threats of violence, or other inappropriate material that violates our Terms and Conditions, and will block users who make repeated violations. We ask all readers to expect diversity of opinion and to treat one another with dignity and respect.


@ThingsExpo Stories
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
Leading companies, from the Global Fortune 500 to the smallest companies, are adopting hybrid cloud as the path to business advantage. Hybrid cloud depends on cloud services and on-premises infrastructure working in unison. Successful implementations require new levels of data mobility, enabled by an automated and seamless flow across on-premises and cloud resources. In his general session at 21st Cloud Expo, Greg Tevis, an IBM Storage Software Technical Strategist and Customer Solution Architec...
BnkToTheFuture.com is the largest online investment platform for investing in FinTech, Bitcoin and Blockchain companies. We believe the future of finance looks very different from the past and we aim to invest and provide trading opportunities for qualifying investors that want to build a portfolio in the sector in compliance with international financial regulations.
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
We are given a desktop platform with Java 8 or Java 9 installed and seek to find a way to deploy high-performance Java applications that use Java 3D and/or Jogl without having to run an installer. We are subject to the constraint that the applications be signed and deployed so that they can be run in a trusted environment (i.e., outside of the sandbox). Further, we seek to do this in a way that does not depend on bundling a JRE with our applications, as this makes downloads and installations rat...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
DX World EXPO, LLC, a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
Digital Transformation (DX) is not a "one-size-fits all" strategy. Each organization needs to develop its own unique, long-term DX plan. It must do so by realizing that we now live in a data-driven age, and that technologies such as Cloud Computing, Big Data, the IoT, Cognitive Computing, and Blockchain are only tools. In her general session at 21st Cloud Expo, Rebecca Wanta explained how the strategy must focus on DX and include a commitment from top management to create great IT jobs, monitor ...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
The IoT Will Grow: In what might be the most obvious prediction of the decade, the IoT will continue to expand next year, with more and more devices coming online every single day. What isn’t so obvious about this prediction: where that growth will occur. The retail, healthcare, and industrial/supply chain industries will likely see the greatest growth. Forrester Research has predicted the IoT will become “the backbone” of customer value as it continues to grow. It is no surprise that retail is ...