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Hinkmond Wong's Weblog

Map of Internet of Things Smart Devices









In this VentureBeat article which embeds the Goldman Sachs "Map of IoT Smart Things", you can skip the first 5 over-hyped Internet of Things markets and go right to the real market potential: #6 Industrial.

See:


IoT mapped: smart things landscape

Here's a quote:

 [A] big potential market covering 
everything from crops and livestock
(farming and ranching in the
Agriculture sub-category) to oil
and gas production and
transportation. In between, there
are many opportunities to add to
existing telemetry to power
continuous analytics at the
individual component or system
level and to aggregate data for
trend analysis, demand management,
and capacity planning.

The first 5 markets that the article lists (People, Vehicle, Homes, Towns, & Commerce) are just gimicky, over-hyped IoT areas that might wind up saving a few dollars here and there for some set of ill-defined segments, but it is the Industrial market (#6) where IoT technology will enable companies to _make_ more money, not just save money. And, that's an important distinction.

That's the key for IoT, is to apply IoT technology and continuous analysis to areas that will produce more products, increase efficiency, and drive more revenue, which will generate more profits. Saving money is finite. Making money is infinite. What better place than the factory floor or in the warehouse to make money off of IoT devices and data analysis. That's where the IoT money will be. Cha-ching.



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