SAN JOSE, Calif. — Is the Internet of Things getting more real — or less? That's the question Venture Development Corp. hopes to answer in a talk at EE Live! next month.
The market researcher is now fielding an update of a story done for last year's event. At that time, a broad range of companies were upbeat on the future of IoT.
“The conclusion from last year's survey was IoT is turning embedded systems upside down, and that's a trend we see continuing,” said Christopher Rommel, the senior analyst at VDC conducting the survey and presenting at EE Live.
“At the recent Embedded World event every booth had IoT or M2M in it, and companies such as Intel, ARM and even Micrium were looking to help enable it,” Rommel said. “The ecosystem is trying to rally around IoT as a catalyst for an embedded renaissance,” he said.
Nest became the “poster child for IoT” with the recent $3.2 billion acquisition of the startup by Google, Rommel said. But for existing embedded-systems companies “this is less about generating new revenue streams as replacing old ones and remaining competitive,” he added.
Last year, half of the survey respondents said they were somewhat familiar with IoT and had a project in the works. Nearly 70% said there were planning to start a project in the next three years.
Several thousand engineers across a broad range of embedded systems sectors took the survey last year. They said IoT was moderately important now, but they expected it would be extremely important in three years as IoT grows to become a check box for new products and a vehicle for selling new products and services.
The top inhibitors for IoT are the relative immaturity of products and the lack of market readiness to embrace them, respondents said. Security was another dampener with 52% saying they felt IoT products are somewhat vulnerable and 19% saying they are very vulnerable.
Don't forget that EE Live! 2014 All Access passes and Engineering Summits passes are still available at the conference’s official site with discounted advance pricing. Make sure to follow updates about EE Live!’s other talks, programs, and announcements on its social media accounts on Twitter, Facebook, LinkedIn, and Google+.