The Internet of Things is big business

Last week the Internet of Things company iControl has been acquired by a Telecom and a Security company.

The business of The Internet of Things.

6 aspects of IoT are important:

  • Network or connectivity (3/4G – WiFi, … Internet).
  • Devices.
  • An Integrating platform, the central hub of your home.
  • Data.
  • Protocols and standards.
  • Security.

Others mention only three aspects (connectivity, devices & data):
The case of Icontrol concerns 2 aspects of IoT: devices and security.

The evolution of IoT.

Today the focus of IoT companies is on developing, mostly stand alone, devices, and acquiring companies who have the expertise. This market is driven by an uncoordinated bunch of ideas and initiatives. Short term gain and innovation are the engines, and who comes first, has the edge. The speed of innovation complicates the standardization in a later stage.

Big data plays in the background, and this is where the future power and money will reside. The usual suspects are playing the field: Google, Facebook and Apple.

Big players (Google, Facebook, …) are preparing the next super high speed en worldwide internet to distribute the mass data (including streaming and VR).
Data collection puts the issue of Privacy in the picture, and European legislation tries to regulate the data protection : The European Directive

Security gets only a little attention, and hasn’t reached the same speed of development as the devices. But security without standards, leads to fragmentation.
New opportunities according to

Standards or protocols are as usual the last to get the necessary attention.
This is important for customers, to make sure each device they buy can work with your home platform. Each company investing in Smart Home, brings its own standard to the table. Most IoT devices from different companies are not interchangeable. The platform of the central home hub with the biggest market share will provide the new standard. And if we are lucky the best platform will prevail.
Remember the cry for standards in the early days of data storage with each stage innovation : the harddisks, VHS, CD, DVD, but also the floppy drives and the Iomega ZIP disk, Compact Flash/SD disk.
It would not surprise me if we’ll end up with two standards: Apple and the rest (lead by Google).

Read more about the acquiring of Icontrol :

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