Sooner, we will live in a smart, connected world. Sensors, tags, and the controls will become an integral part of our daily life, be it in industry or in public. Evolving IoT applications with capabilities such as remote monitoring, managing and controlling devices, create new insights and actionable information from massive streams of real-time data.
IoT offerings are transforming major cities by improving infrastructure, creating more efficient and cost-effective municipal services, beefing up public transportation, controlling traffic congestion, improving street lighting and safety of citizens.
Future roadmap is already laid down for:
- Smart Grid
- Smart Traffic
- Smart Transportation
- Smart Rail
- Smart Infrastructure
- Smart Water
- Smart Lighting
Cross-industry IoT implementation will also happen on a wide scale. Verticals such as automotive, healthcare, agriculture, asset management, consumer goods and logistics will be the ideal pastures for future IoT adoption.
IoT will spur significant growth opportunities for semi-conductor industry because the connected devices that transmit information across the relevant networks rely on innovations from semi-conductor players – highly integrated microchip designs.
Demand for the first generation of Internet of Things products (fitness bands, smart watches, and smart thermostats, for instance) will increase as component technologies evolve and their costs decline.