The Internet of thing is growing at a breathtaking pace. That means connectivity at both home and work will become more and more complex. As the IoT makes computing increasingly complicated, some say we should be concerned primarily with the backend rather than interoperability.
- Speed of IoT Growth
- A Jumble of Disconnected Cloud Services
- The Issue of Interoperability
- Changing the IoT Standardization Focus to the Backend
- Cloud that Meets Rigorous Standards
Speed of IoT Growth
The Internet of things is expanding at a rapid rate as enterprises and vendors are becoming more aware of the possibilities presented by this all-inclusive approach to connectivity. The IoT market was forecast last year by IDC to grow at a whopping 16.9% compound annual growth rate (CAGR) between 2014 and 2020, rising from $655.8 billion to $1.7 trillion. To put that into perspective, it’s nearly as fast as the growth of public cloud, which is predicted by IDC to achieve a 19.4% CAGR between 2015 and 2019; and keep in mind that much of that public cloud growth will actually be because of the growth of IoT.