Original Post – http://www.iotevolutionworld.com/iot/articles/436114-how-invest-the-internet-things.htm
All Credits to Charles Dearing
Today, we are experiencing the 4th Industrial Revolution. Machines are becoming smarter, there have been a rise in the development of autonomous technologies, and the Internet of Things is becoming increasingly connected with each passing day. While investors already know they are going to have to turn their attention towards these emerging technologies if they are going to remain relevant, it’s hard to know exactly where to start.
While many IoT developments are still in their nascent stages, that doesn’t mean that major companies aren’t already starting to invest. If you are new to IoT or are wondering how to make the first step towards the future, here are a few things to consider if you are going to invest in the Internet of Things in 2017.
Keep a close watch on the market
While there’s little to no doubt that humans will be inextricably connected to their devices in the near future, that doesn’t mean putting all your money into cloud technologies or robots just yet. Currently, wearable technologies, wireless speakers and smart appliances are some of the most the most notable developments taking place right now within the Internet of Things. Investors can keep a close watch on how consumers react to these products, in addition to other major investor activity to track what developments look most promising.
So far, recent research has projected that the IoT market will be worth upwards of 1.7 trillion USD by the year 2020. That’s a lot of money, but it’s important to note that this worth isn’t completely defined by the development of smart devices, but also security, data analytics, banking and much more.
Know the big names
If you are going to invest in the Internet of Things you need to know who to invest in. Perhaps the biggest name in cloud computing services is American e-commerce giant, Amazon. Famous for the Kindle, Fire TV, they have recently dipped their toe into the future of connected technologies with the release of the Amazon Echo, also affectionately referred to as, Alexa. The Echo is a virtual assistant that can also control smart appliances, and is only just the beginning to Amazon’s growing Amazon Web Services platform.
Of course, it’s no surprise that Google, the world’s biggest technology company is also jumping on the bandwagon. Those keeping a close watch on recent developments within the landscape of the Internet of Things should also know about Google Home, a virtual assistant that specializes in home automation. Only just released last year, Google has already partnered with major various home automation producers, like Nest Labs and IoT platforms like SmartThings, and is showing no signs of slowing down.
Don’t stray too far from your industry
At some point, the Internet of Things will permeate every industry, so it’s vital that you stick with what you know, and build your expertise from there. 124-year old multinational conglomerate, General Electric, is one of the biggest examples of a corporation strategically investing in the Internet of Things. A leader in industrial development, covering everything from powering homes, to making advancements in aviation, GE has invested millions, 105 to be exact, into industrial focused IoT. Sticking to their roots, the industry giants are treating their investment as an extension of their services, maximizing their chances of remaining compatible with contemporary consumer needs.
Focusing on your industry will help you minimize the chances of making risky investments as you will be approaching potential opportunities with a certain expertise. Additionally, investors today have data on their side and by consulting an expert market research analyst, investors can get a sense of what trends are growing, while also identifying additional lucrative opportunities that may have gone unnoticed without proper research.
In just a few years, the Internet of Things went from being a buzzword to being considered one of the most worthwhile investments in our future. For investors, it’s a chance to gain access to new markets and lucrative opportunities that aren’t going out of date anytime soon.
About the author: Charles Dearing is a veteran tech and marketing journalist with over 15 years of experience using words to move people to act. He has written for various publications such as ProBlogger, Big Think, Apps World, to name a few. You may connect with him on Twitter.