According to Business Insider the IoT ecosystem is comprised on an entity (smartphone, tablet, etc) that functions as a remote to send a command or request for information over the network to an IoT device. The device will then perform the command or send information back over the network to be analyzed and displayed on the remote.
This broad definition of the ecosystem can be applied to specific industries such as auto manufacturing companies that create smart cars equipped with sensors that send engine data back to the manufacture to improve on future models. With opportunities for leveraging the IoT ecosystem across an array of industries, every business from consumer facing devices to helping create smart cities.
With over 24 billion devices expected to be installed by 2020 according to Business Insider, the IoT ecosystem will touch almost every industry, including transportation, insurance, utilities, telecom, healthcare, smart homes, oil and gas and more. The investment in these opportunities over the next five years are expected to result in $13 trillion return on investment (ROI) by 2025.
The main barriers around the Internet of Things remains security, implementation and technological fragmentation. Horizontal management for IoT addresses several of these concerns. A standards-based, horizontal platform allows for greater access control to give control over Internet of Things devices and sensors. Organizations are able to manage data with end-to-end authentication and scale solutions across all vertices without having to be a solution for each application.
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Over the next five years IoT investments are expected to result in $13 trillion ROI by 2025.