In an address on day two of Microsoft’s Future Decoded event in London, Kevin Ashton showed examples of supposed IoT devices such as the wine bottle that tells you if you’re drunk and the toothbrush that tells you if you’ve brushed your teeth.

Describing Kickstarter as “where bad ideas go to get funded”, he talked about the true nature of IoT and its roots in machine-to-machine communication that’s neither accessed nor processed by humans.

“This information isn’t going on a spreadsheet or a pivot table,” he explained. “It’s a sensor on a device in the world sending data to another device which makes a decision which feeds out into the world.”

In short: “We don’t collect data. Machines collect data from sensors and we turn the world into data.”

The perfect example of this is the mobile phone. “We call a phone a phone for legacy reasons,” he said. “A phone is just an app on your device. You probably use Candy Crush or Angry Birds more than you use it for actual calls. What a smartphone actually is, is a wireless sensor platform.”

He said that historically the UK has been at the forefront of internet developments, so it’s only right that the country takes a leading role in the evolution of the IoT.

Citing self-driving cars as a good example of the IoT at work, he predicted that by 2030 such vehicles will be the norm, and that the question should not be “Are self-driving cars safe?” but “Are human-driven cars safe?”, pointing out that 3,000 people are killed on the roads every day by human-driven cars, and so far at least, there have been no serious accidents involving autonomous vehicles.

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These are devices like smart thermostats that allow users to remotely control household temperatures or LED lights that can be switched on and off from a smartphone. Basically it is the same thing as the IoT concept in the residential setting.

Navigant Research, global revenue from shipments of residential IoT devices is expected to total more than US$330 billion from 2015-2025. That is a lot of talking fridges and Internet connected underware.

Neil Strother, principal research analyst with Navigant Research said that the IoT is like putting together a jigsaw puzzle without any edge pieces, with the number of pieces growing exponentially into the billions.

“Communicating devices in the IoT traverse a wide range of industries and sectors-virtually all areas of life can expect to see some form of this connected world.”

Despite the many drivers for the residential IoT market, there are at present multiple protocols and standards that are creating an interoperability barrier, he said.
Wi-Fi, ZigBee, Bluetooth, and others are all vying for market viability, which is creating confusion for consumers and stalling overall adoption, he said.

Courtesy-Fud

ABI has added up the numbers and divided by its shoe size and multiplied by the age of its youngest child and worked out that China’s IoT market will grow more than five times in the next five years, exceeding $41 billion by 2020.

Dan Shey, VP and IoT practice director at ABI Research said that driving China’s IoT numbers is the smart meter segment.

“It leads all other segments in both connections and revenues. In fact, by 2020, smart meter connections will exceed the next highest market segment in total connections by nearly 10 to 1.”

Other major segments driving the China IoT market are home security and automation, OEM telematics, video surveillance, home appliances, aftermarket telematics and home monitoring.
Home monitoring is expected to become an important market in China as it attempts to care for its aging population, which will reach nearly 340 million people in 2020 for citizens age 55 and older.

“Data analytics revenues will generate the most IoT revenues in China. This statistic is reflective of the sheer volume of smart meter connections,” Shey said.

This is indicative of the relative lack of revenues in both platform and professional services in the China market.

“Platform revenues are not as high due to, for example, a higher share of proprietary embedded telematics deployments, especially by domestic OEM brands. Professional services revenues are similarly not as high, not only due to fewer connections in the telematics segments, with a higher proportion of tethered solutions, but also because IT and consultancy services are not as mature a market segment as in some of the more developed world markets such as Japan, South Korea and the US,” he wrote.

Source-http://www.thegurureview.net/computing-category/is-china-the-fastest-growing-market-for-iot.html