The future of the consumer electronics industry will be shaped by a range of disruptive topics, with the Internet of Things (IoT) being one of the topics that will greatly influence the growth of the industry.
The Internet of Things describes the use of connected sensors and actuators to control and monitor the environment, the things that move within it, and the people that act within it. In other words, the Internet of Things improves the interconnection between computing devices embedded in everyday objects, over the Internet, and enables them to send and receive data. In the consumer electronics industry, IoT use cases include the automated home, connected car, wearable technology, automated home, and smart cities. GlobalData predicts that the global Internet of Things market will reach $1.1 trillion in revenue by 2024.
For IoT technology to truly become widespread, two things must happen: latency levels must decrease to allow real-time decision-making, and IoT deployments must operate more independently. Advances in data center technology are already pushing more intelligence to the edge of data networks, reducing latency, while artificial intelligence of things (AIoT) technology is gradually reducing the role of human decision-making in many IoT ecosystems.
However, not all companies are equal when it comes to their capabilities and investments in the key topics that matter most in their industry. Understanding how companies position and rank on the most important topics can be a major leading indicator of their future earnings potential and relative competitive position.
According to GlobalData’s thematic research report, Internet of Things, among the top users of IoT are: Alphabet, Apple, Amazon, Sony, Samsung Electronics, and Honeywell.
Insights from top rated companies
Apple is a leading player in the Internet of Things. Its core product, the iPhone, which accounts for about half of all revenue, makes Apple the undisputed leader in connected devices within the IoT value chain. It processes data collected from its smartphones on iCloud, its internal cloud platform. Ios, the software platform that powers the iPhone and the App Store, owns many of the applications that control IoT systems. The HomeKit automated home platform allows users to configure devices for their automated home using their iPhone or iPad. It is also the world’s leading smartwatch company in terms of revenue. Additionally, Apple is working on augmented reality devices, sometimes referred to as the Apple Glass AR headset. She is also rumored to be working on an electric car project, although she is usually secretive about it.
Amazon Web Services (AWS) is the global leader in cloud infrastructure as a service (IaaS). Many companies use AWS cloud platforms to process the data that drives their IoT systems. It also has a range of connected devices from the Echo family of smart speakers to Ring, the camera-powered doorbell. Many of these Amazon devices are powered by Alexa, Amazon’s conversational platform. With the 2020 acquisition of Zoox, Amazon has become a serious competitor in the nascent autonomous vehicle market. Also, Amazon Go Stores is a leading technology for smart, connected retail stores. Combined, these attributes give Amazon one of the most powerful IoT ecosystems in the world.
Alphabet is a leading Internet of Things company. Its Android operating system powers most of the world’s smartphones, and Google Play, its app store, hosts many apps that track and control IoT devices. Through Nest, it has developed a very advanced smart hub to control connected devices in the automated home. Driverless car startup Waymo is already a global leader. In addition, its acquisition of Fitbit in 2021 made it a strong competitor in the wearable technology sector.
To further understand the key topics and technologies disrupting the tech industry, access GlobalData’s latest topical research report on the Internet of Things.
- Ali Baba
- 3D systems
- LG Electronics
- Black Berry
- Magic Leap
- control 4
- Seiko Epson
- Tom Tom