As the Internet of Things (IoT) picks up speed on the course of the next decade, much of the work will be on infrastructure. Wired and wireless networks and systems that monitor huge loads of incoming data from all the connected “things” are essential for real-world IoT applications. Three U.S. companies sit in prime positions to create the IoT backbone, according to a Business Insider report.
Cisco, General Electric, and Verizon already have infrastructure products that can slot right into developing IoT systems and applications. Consumer IoT applications will likely do just fine with Bluetooth and Wi-Fi wireless connections, but business and government will need more robust systems, including long-range (LoRa) wireless networks. Business Insider and The Motley Fool peg business and government as the largest adopters of the Internet of Things.
Cisco’s networking hardware, its key business, will be in great demand. Cisco has long been recognized as the leader in networking infrastructure, which makes it a slam dunk for at least a top slot on the short list of any organization building out a complex IoT system.
Verizon’s wireless network not only has more U.S. subscribers than other wireless providers, but it’s also the furthest along in developing next-generation 5G connections, described as 30-50 times as fast as 4G. According to The Motley Fool, Verizon said that 5G wireless “will provide the ecosystem to enable a fully mobile and connected world.”
General Electric recently moved its world headquarters from Fairfield county in Connecticut to the Boston area to be close to the technology and artificial intelligence centers — and for tax purposes. G.E. is already deep into the IoT with its Predix cloud-based suite of applications for industry. Likened to an operating system for cloud systems combined with an app store, G.E.’s Predix is the sole player in the market at this time. G.E. itself is already a Predix user, which provides the company with growing expertise with industrial implementations and applications.
Business Insider stated that industry will be the largest adopter of IoT in order to lower operating costs, increase productivity, and expand product offerings and markets. Government applications will be the second most common IoT implementation, with consumer use in third place. Today, when many people hear about the Internet of Things, they think of smart home thermometers and appliances. But the real action, the greatest growth of what is forecast to be a $6 trillion market during the next five years, will be in business and government applications. Cisco, G.E., and Verizon are poised to take lion’s shares of the underlying business.
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