IoT is growing and has a long way to go!

By Kvantum Team Posted July 04, 2017 In Industry Trends, IoT, Augumented Reality, Artificial Intelligence, Virtual Reality

IoT is increasing in number of fields. The number of Internet connected devices that people have is going up, especially in North America. Beyond smartphones and connected TVs, North American consumers will be adopting many more connected gadgets.

Internet Of Things Market To Reach $267B By 2020 as posted by Forbes

  • B2B spending on IoT technologies, apps and solutions will reach €250B ($267B) by 2020.
  • By 2020, 50% of IoT spending will be driven by discrete manufacturing, transportation and logistics, and utilities
  • Spending on IoT applications is predicted to generate €60B ($64.1B) by 2020.
  • IoT Analytics spending is predicted to generate €20B ($21.4B) by 2020.
  • 40% of today’s IoT customers prefer to use traditional and well-established software companies for their IoT solutions.

3% Of Internet Users Own A VR Headset as posted by Tech This Out News -Only 5% of Internet users in North America have a VR headset and even fewer in other markets, according to a new report from GlobalWebIndex (GWI). Globally, only 3% of Internet users have a VR headset. Virtual reality has been around for many years, waiting for technology to advance enough to make it more viable for the masses. All projections for the growth of virtual reality are relatively high, but based on the current state of the market, that growth has a long way to go.

67 Million VR Headset Shipments Forecast- Virtual reality and augmented reality device shipments are projected to grow in the coming years, but in different markets, as article posted by MediaPost talks about. Virtual reality is expected to continue growing most in consumer markets and augmented reality is expected to grow increasingly within commercial markets, according to new tracking data from IDC. The global market for VR headsets is expected to grow from 9 million headsets shipped last year to 67 million in 2021, according to IDC.

Vehicles are set to become increasingly connected in the coming years and generate billions of dollars as a consumer spending platform as per article by MediaPost- Connected Car Commerce On The Rise. Most data usage from connected vehicles is expected to come from infotainment services, such as streaming music or downloading maps content for navigation, according to Juniper. By 2022, data usage from connected car services in North America will reach almost 3,000 petabytes, or about the storage size of more than 90 million standard smartphones. Connected car services are expected to generate more than $18 billion by the end of this year and more than $49 billion in 2022, according to Juniper. More than a third (39%) of that will come from North America.

Smartwatches To Drive Wearables Market To Almost Double- as posted by MediaPost. In the world of wearables, connected watches are taking the lead. The number of wearable connected devices hitting the market is expected to nearly double in the coming years. Global shipments of wearables are expected to grow from more than 125 million by the end of this year to more than 240 million in 2021, according to new numbers from IDC. Updated breakdown of the wearables market by 2021:

  • 67% -- Watches
  • 22% -- Wristbands
  • 9% -- Clothing
  • 2% -- Hearables

Will AI make better hiring decisions than humans? as posted by RetailWire- Many companies like tech startups are turning to Artificial Intelligence to help employers fill jobs. The use of AI is also eliminating barriers, such as the lack of a college degree, that used to keep some from finding jobs.

VR, AR Developers Move Away From Mobile To Higher-End Systems as article by MediaPost. Virtual reality experiences may be shifting from mobile-based platforms to higher-end systems. The study was conducted by the UBM Game Network and comprises a survey of more than 600 professionals involved in the development of AR, VR and MR experiences. Gaming and entertainment are the top areas that AR and VR developers are currently focused on, with 78% saying so, followed by training and education projects (27%) and branded experiences (19%), according to the study. Compared to last year, developers seem to be focusing more on high-end VR systems, rather than mobile-based VR viewers.

Survey: 45% of retailers plan to use AI in next 3 years- as posted by RetailDive. AI emerged as one of the hottest technologies of 2016, and though there was a lot of activity last year, retail was just getting started. About 45% of retailers plan to use artificial intelligence technology within the next three years to improve customer experiences, according to the Boston Retail Partners 2017 Customer Experience/Unified Commerce Benchmark Survey. The survey results also found that 55% of retailers are refining mobile shopping and unified commerce experiences with an eye toward increasing customer loyalty and improving the overall customer experience.

As virtual reality and artificial intelligence make their way into the travel industry, consumers may not be fully on board. As per article posted by MediaPost- Virtual Reality Not Seen As Substitute For Travel. Most adults prefer traditional traveling over VR experiences and more than half say tour guides and hotel staff could not be replaced by AI, according to a new study. More than three-quarters (81%) of adults said VR can’t replace travel and almost all (92%) said they would not consider visiting a destination in virtual reality to equate having been to that destination. However, VR could be an advantageous alternative to travel in certain cases. More than three-quarters (77%) said VR travel could be beneficial if the user is incapable of physically traveling. Another advantage of VR cited is the ability to go “wherever you want, whenever you want” without the associated costs. Artificial intelligence has already made its way into the planning and booking segment of travel.

Over time, consumers are likely to lean more on their smart devices to automate tasks for them. Today, this can be as simple as asking Amazon’s Alexa to order a coffee from Starbucks. Tomorrow, this could involve the connected technology, powered by artificial intelligence, to know, in advance, when to order that coffee. And from where. And have it delivered via any number of means now in trial.

Do you think IoT is growing at fast pace? Feel free to share your comments with us.

Source- https://www.mediapost.com/publications/article/302663/more-people-getting-more-connected-devices.html

In Industry Trends, IoT, Augumented Reality, Artificial Intelligence, Virtual Reality

By ,  Posted Jul 4th 2017