With revolutions and changing technologies, the world is hit by the storm of advanced and modern tech devices. Everyone is surrounded by gadgets and now doing everyday tasks without the influx of machines and gadgets seems like a nightmare to all. Having a smart device or a gadget is no more a sci-fi fantasy and anyone having a modern tech solution with him is no longer seen as a mysterious act. This year it is expected that around 14 billion smart devices would be used by the people, which is expected to increase the number to double by the end of 2021.

With everything changing rapidly, the Internet of Things took birth in between 2008 or 2009. It is a complicated concept and therefore it took time to get on its feet and change the world. In the past few years, IoT has changed and revolutionized a lot, therefore it is predicted that the year 2019 is going to bring the biggest change through IoT. But the question today still remains the same, is it valuable to invest in the IoT concept? Let us scrutinize it.

What is Internet of Things Basically?

IoT or Internet of Things is a complete science in which you can conveniently collect or even exchange the information comprehensively. Through the physical interlink of the devices along with the other objects, IoT can be enabled. It is performing mechanically and then it is fixed with the internet connection of the sensors and software to achieve the impossible. The IoT solutions are generally maximizing the opportunities for allowing to access remotely the control over the network infrastructure along with the integration of the physical devices with the computing systems.

The technology is being used in consumer applications to make smart homes and appliances, in elder care gadgets, medical and healthcare sector, in the transportation concerns, home automation, manufacturing industry, agriculture sector, energy management etc.

Investing in IoT This Year

Currently, the tech industry is dominated by some massive and gigantic technological names who are not only working on IoT but also producing those gadgets that support the concept of IoT and their algorithm of working also depends on that.

We have companies such as Amazon and Alphabet Inc. leading the way with highly competitive virtual reality-based assistants, specifically designed to add convenience in the lives of the users. Amazon’s Alexa and Echo are speakers looking VR assistants to whom you can not only talk but also ask them to do certain tasks for you, such as calling someone, ordering from a restaurant, switching on and off your electric appliances and so on. Similarly, Alphabet Inc. has Google Home that is similar to Alexa and Echo. Currently, Alphabet Inc. is working on creating a smart network named as Nest, which can allow you to connect with your indoor and outdoor security cameras, smoke detection alarms and many more.

Talking about Microsoft, it is spending $5 billion in the upcoming 4 years on the development of the Internet of Things. It has Azure IoT with it that can connect, monitor and manage billions of IoT devices together. It is partnering with other smaller companies to get a cutting edge in IoT technology.

NVIDIA Corporation is working on IoT concept with the latest analytics and setting new technological castles to climb on. It is making the big chips that can help in driving the IoT technology with ease and convenience.

Therefore it is clear that IoT is developing and grooming. The gigantic IT names are working on it and developing modern state-of-the-art devices that can benefit a common man. Invest in IoT companies, its analytics and data evaluation side and discover the potential it holds in it. Unleash the power of IoT to make your business stand out.

The industry of IoT is expected already to get up to $6.7 billion to $20.2 billion by the end of 2021. With its blooming and encouraging flairs, be an early investor in this field to maximize the most out of IoT.