According to the latest research report by BI Intelligence, the Internet of Things will be the largest device market in the world and is expected to be more than double the size of the smartphone, PC, tablet, connected car, and the wearable market combined by 2019.
The Internet of Things market is beginning to expand rapidly with a host of new applications and technologies, from smart thermometers to connected kitchen devices to vehicle WiFi hotspots. It will result in $1.7 Tn in value added to the global economy in 2019.
CB Insights has compiled a list of the most active venture capital and corporate investors in the IoT space in 2014 based on the deals during the year. According to it, Intel Capital tops the list, followed by Sequoia Capital and True Ventures, which has made the IoT vertical a key focus area of its portfolio.
Here is the rankings:
In Context Of India
The Indian government is also working on an ambitious plan to create $15 Bn ‘Internet of Things’ industry in the next six years. “Among other things, IoT can help automate solutions to problems faced by various industries like agriculture, health services, energy, security, disaster management etc. through remotely connected devices,” the draft IoT policy document says. The policy has the objective “to create an IoT industry in India of $15 Bn by 2020. This will also lead to increase in the connected devices from around 200 Mn to over 2.7 Bn by 2020.”
A budget of INR 1 lakh crore has already sanctioned to implement all the future plans under this vision.