Internet-connected devices to touch 26b in next six years
Mar 24 2014
This number will impact information available to industry: Gartner
In a study released on Monday, Garnter has maintained that only five years back, the internet connected devices were 900 million. Analysts estimate that the internet-linked devices market will touch a whopping $300 billion in next six years. This will lead to creation of new economy globally worth $1.9 trillion in a wide range of industries including healthcare, retail and transportation.
This huge explosion in number of ‘intelligent devices’ that are networked would have two-fold impact. One, the digital marketing budgets would begin to increase beginning this year. Secondly, the huge expansion in networked devices will change the way markets behave or marketing professionals push products and services.
Thirdly, the Gartner report also foresees enhanced ‘cyber-risk exposure’ for companies and services going digital on the information highway. This will also lead to increase in security of these networks and devices from cyber-attacks. Apart from the huge expansion in web-connected devices of all sorts, the Gartner study also talks about huge spurt in three dimension (3D) printing systems and devices.
As a direct fallout, there would be disruption in the digital and physical marketing strategies, convergence in the engineering skills and people behind the two, the Gartner study maintained. World’s largest information technology and advisory firm, Gartner has also looked at possible shift in the way products are designed given the new dispensation for marketing based on new networks.
Gartner’s managing vice president Michael Burkett has pointed to commercial telematics used in fleets of trucks to bring about efficiency in logistics especially consumer industries, business-to-business industries. The international research firm has estimated that investment in digital marketing of products and services would double annually in next seven years.
Gartner has pointed to increased use of digital channels for product launches, seasonal promotions and other initiatives while marketing professionals conducted campaigns and communications across multiple channels.
The IT research firm has estimated that worldwide IT spending will be a humungous $3.8 trillion this year i.e. 3.8 per cent higher than previous year. But, for IT industry digitisation and internet connectivity is what is exciting and analysts see a huge business potential. The digital connectivity that firms like Gartner talk about include internet, cloud, social collaboration, mobile and information explosion.
By 2017, i.e. three years from now, over 80 per cent spending would be on mobile phones, tablets and ultra-mobile personal computers. Over 50 per cent spending in three years would be on tablets.