Why the Internet Of Things (IOT) Platform Market is Expected To Reach $74 Billion By 2023
Palm Beach, FL –October 29, 2019 – The global Internet of Things (IOT) platform market is expected to reach approximately USD 74.74 billion by 2023, registering a CAGR of 28.5% during the forecast period. (2016-2022) according to recent reports this past September. For the report, the researchers defined IOT as a multi-layer technology that manages, processes, and transfers information through connected devices with the help of the Internet… providing connectivity to various IoT-compatible hardware devices such as mobiles, laptops, wearable fitness devices, industrial control systems, automotive telematics units, and drone units. The hardware components in the environment are connected to the cloud through flexible connectivity options, data processing components, and secure civil and military networks. The report added: “The Internet of Things is in its growing stage. This can be attributed to the fact that there has been a development of wireless networking technologies, increase in cloud platform adoption, advent of advanced data analytics and data processing, reduction in cost of connected device. The concept of IoT has revolutionized the way organizations across industry verticals interact with their customers. IoT helps organizations in increasing operational efficiency and optimizing business outcomes. Active companies in the markets this week include Hawkeye Systems, Inc. (OTCQB: HWKE), Microsoft Corp. (NASDAQ: MSFT), Sony Corporation (NYSE: SNE), NVIDIA Corporation (NASDAQ: NVDA), International Business Machines Corporation (NYSE: IBM).
The use and size of the market will continue to grow given that both the civil and military sectors both are projected to adopt and utilize more connected items. In fact, by the end of 2018 there were at a minimum, 20 billion devices connected to the internet, According to the latest research from Strategy Analytics. That number surely has grown in the last year and will continue its upward trend. Enterprise IoT remains the leading segment, accounting for more than half of the market, with Mobile/Computing at just over a quarter. The report predicts, however, that Home will be the fastest growing segment over the coming years, driven by further rapid growth in smart home adoption, particularly in as-yet untapped regions. The report predicts that 38.6 billion devices will be connected by 2025, and 50 billion by 2030. Some segments (such as connected computing devices) will see low growth or decline, while others (such as media devices) will continue to expand steadily. Growth rates for wearable devices and connected vehicles will remain positive.
Hawkeye Systems, Inc. (OTCQB: HWKE) BREAKING NEWS: Hawkeye’s Radiant Images has been named as an honoree of the prestigious Lumiere Award by the Advanced Imaging Society (AIS) held at the Four Seasons Hotel in Beverly Hills on October 28, 2019, for their AXA Volumetric Stage and its development of holographic video technology.
“We are thrilled to be recognized amongst industry leaders such as Walt Disney Studios, Apple, IBM, Dolby, DreamWorks, Unity Technologies, LG Electronics, Pixelworks, Epic Games, Microsoft, Sony Pictures, Samsung and NVIDIA who are consistently pushing the boundaries of the human experience,” said Michael Mansouri, co-founder of Radiant Images. “Our AXA Volumetric Light Field stages are an important part of all forms of holographic capture for the current and upcoming smart displays and spatial computers. What was previously available for a glimpse only in science fiction movies and futuristic predictions are now a reality with Radiants’ AXA Volumetric Light Field stages.”
With the AXA Stage, Radiant created the world’s most accurate and adaptive volumetric and light field stage. The system supports 100+ cameras with the ability to add additional camera density anywhere inside the sphere. AXA’s highly accurate camera positioning is the key to automation and algorithms for all volumetric and light field capture, placing the system squarely on the cutting edge of this technology.
Radiant is at the forefront of precision imaging, optics, machine learning, and AI to create volumetric videos. Immediately gaining traction with its holographic technology, Sony Pictures recently purchased Radiants’ AXA Volumetric Stages for its next-generation movie studios.
Radiant Images is currently working with their partners to provide elements for the dawn of realistic mixed reality applications, be it via 5G teleconference, a distance learning class, or a volumetric movie or TV broadcast.
With over 1 billion augmented reality-enabled devices in the market, virtual reality and augmented reality applications are gaining in importance in several industries, such as entertainment, sports, education and training, automotive/aerospace, architecture, and mechanical engineering. Whether it’s with simulations of workflows in virtual reality or whether reality is enhanced with content in augmented reality – the benefits of using VR & AR have long become obvious. Instructions can be absorbed simply and quickly, and workflows can be explained and illustrated step by step because presentation components can be experienced instead of just viewed, complex ideas can now be exchanged in a free form and intuitively. Read this and more news for Hawkeye Systems at: https://financialnewsmedia.com/news-hwke/
Other recent developments in the markets this week include:
Plus the military utilization will continue to adopt both off the commercial off-the-shelf devices and new proprietary uses and devices. Analysts at Frost & Sullivan say they expect U.S. Department of Defense (DoD) command, control, communications, computers, intelligence, surveillance, and reconnaissance revenue spending for the application of commercial off-the-shelf (COTS)-based computing, security, storage, networking, and collaboration tools should increase. Internet of Things (IoT) systems along with cloud and big data technologies will be necessary to complement the adoption of COTS-based smart phones, tablets, wireless networks and productivity applications of all kinds.
Microsoft Corp. (NASDAQ: MSFT) on Monday announced new capabilities that further simplify the customer journey and deliver highly secured IoT solutions. These solutions help customers embrace IoT as a core strategy to drive better business outcomes, improve safety and address social issues by predicting and preventing equipment failures, optimizing smart buildings for space utilization and energy management, improving patient outcomes and worker safety, tracking assets across a supply chain, and more.
The proliferation of IoT devices is enabling companies to bring cloud intelligence to the edge, to create solutions that are adaptive and responsive to their environments. According to IDC,1 41.6 billion devices — including smartphones, smart home assistants and smart appliances — will be connected to the internet by 2025. Even sooner, by 2021, 94% of businesses surveyed will be using IoT, according to a recent Microsoft IoT Signals research report and, in nearly every case (97%), those companies are concerned about potential security risks.
Sony Corporation (NYSE: SNE) closed up on Monday at $59.06 trading over 800,000 shares by the market close. SNE is scheduled to report second-quarter fiscal 2019 financial results on Oct 30, before the opening bell. In the last reported quarter, the company delivered positive earnings surprise of 38.5%. Markedly, Sony topped the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 87.7%.
NVIDIA Corporation (NASDAQ: NVDA) NVIDIA with Microsoft Corp. recently announced a technology collaboration focused on intelligent edge computing, designed to help industries better manage and gain insights from the growing flood of data created by retail stores, warehouses, manufacturing facilities, connected buildings, urban infrastructure and other environments. By enabling closer integration between Microsoft Azure and the NVIDIA EGX platform, the companies are working together to advance edge-to-cloud AI computing capabilities, benefiting businesses worldwide.
The NVIDIA Metropolis video analytics application framework, which runs on EGX, has been optimized to work with Microsoft’s Azure IoT Edge, Azure Machine Learning solutions and a new form factor of the Azure Data Box Edge appliance powered by NVIDIA T4 GPUs. Additionally, NVIDIA-certified off-the-shelf servers — optimized to run Azure IoT Edge and ML services — are now available from more than a dozen leading OEMs, including Dell, Hewlett Packard Enterprise and Lenovo.
International Business Machines Corporation (NYSE: IBM) recently announced that the IBM public cloud has been named a 2019 Gartner Peer Insights Customers’ Choice for cloud infrastructure as a service. The Gartner Peer Insights Customers’ Choice Distinction is based on feedback and ratings from end-user professionals who have experience purchasing, implementing and using cloud infrastructure as a service, worldwide. Gartner defines cloud infrastructure as a service as a standardized, highly automated offering, where compute resources, complemented by storage and networking capabilities, are owned by a service provider and offered to the customer on demand. The resources are scalable and elastic in near real time, and metered by use. Self-service interfaces are exposed directly to the customer, including a web-based UI and an API. The resources may be single-tenant or multitenant, and hosted by the service provider or on-premises in the customer’s data center. Thus, this market covers both public and private cloud IaaS offerings.
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