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Industries Making a Splash in IoT

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©2016 Aria Systems Inc. All rights reserved.

According to IDC, the IoT is projected to reach 50B connected devices by 2020, but the real money will come from the services that the devices make possible.

When combined with big data, the

IoT market is set to hit $14.4 trillion in annual sales by 2020.

IoT’s impact spans multiple industries. Here are five industries diving in and making waves.

THE IoT OPPORTUNITY

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$14.4trillionin annual sales by 2020. (IDC, 2015)

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The healthcare industry will experience the fastest growth in IoT adoption within the next five years.

Virtual office visits eliminate travel/wait times. Automatically transmitted patient information increases accuracy and allows more time for care. Pharma and insurance companies will use customer data to improve drug development and treatments.

HEALTHCARE1

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$2.5trillionIn IoT-generated healthcare revenue by 2025. (Intel, A Guide to IoT, 2015)

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More than 25% of car buyers said Internet connectivity is more important than engine power or fuel efficiency*.

According to Gartner, connected cars may exceed a quarter of a billion worldwide, offering services like: real-time traffic parking information or integration between dashboards, smartphones, and wearable devices.

AUTOMOTIVE2

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$40B+in revenue from connected car services by 2020. (SNS Research, 2015)

* McKinsey & Company

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The Industrial IoT (IIoT) incorporates machine learning and big data technology to harness sensor data, automation technologies, and machine-to-machine (M2M) communication in manufacturing.

The IIoT generates reporting for things like water and energy usage during peak hours and downtimes.

INDUSTRIAL3

in annual revenue from the Industrial IoT by 2025. (Intel, A Guide to IoT, 2015)

$2.3trillion

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By 2020, there will be an estimated 50B connected devices, the majority of which will be attached to some form of subscription or usage-based service.

As both producers and consumers of IoT products and services, high-tech companies must find ways to repackage existing customer offers, optimize internal operations while decreasing costs, or both.

TECHNOLOGY4

connected devices by 2020.(Cisco, 2015)

50B

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While most consumers haven’t heard the term ‘Internet of Things,’ it hasn’t stopped the increase in adoption.

More than 5 billion people will be connected by 2020. The smart home alone is estimated to bring in around $490 billion in revenue*.

CONSUMER5

of consumers planto buy smart home devices by 2019.(Accenture, 2014)

69%* World Economic Forum

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In order to successfully monetize the IoT, remember that it’s the services derived from the IoT data, not the devices, that will bring long-term recurring revenue streams.

For more on maximizing the value of your IoT efforts, visit www.ariasystems.com.

MONETIZING THE IoT

“IoT is the most data-centric phenomenon of all time.”- Brendan O’Brien, Co-founder,

Aria Systems