We are revisiting this 2016 IoT Landscape because we love this article and want to ensure you get to read it as well. Here are some key takeaways based on our read …
Matt Turck, VC at FirstMark, looks deeply into IoT, addressing pressing issues as well as the timeline of tech evolution that led us to our current climate, what lies ahead, and how our society will respond to the coming changes.
The article is jam packed with insight around IoT, but it also offers thoughtful consideration of the impacts technological progress will have on businesses and the obstacles they will likely face.
He concludes with a poignant point: “What seemed like complete science fiction 10 years ago is in the process of becoming reality,” Turck said. “The bigger question might be whether we are ready as a society for this level of change.”
IoT Is The Next Huge Thing
Turck asks, “Remember the Internet in 1999? Or, if you’re younger, mobile phones in 2007? This is essentially where the Internet of Things is today.”
Who remembers those days? The article takes us back to a time of dial-up and unsecured websites, and a world that had not yet experienced its first smartphone.
Today’s IoT is largely at this inflection point where “the future is already here but it is not evenly distributed,” Turck explained. There’s so much available: ingestibles, wearables, AR/VR headsets to connected homes and factories, drones, autonomous cars and smart cities, a whole new world (and computing paradigm) – it is all emerging in front of us.
Obstacles Slow Progress, But Don’t Won’t Halt The Inevitable
But that doesn’t say there aren’t obstacles… and, right now, Turck said, “it just feels a little patchy, and it doesn’t always look good, or work great – yet.” Yet is the key here, as IoT growth looks steady, albeit a bit lagging in areas. One area of IoT that moved more quickly is fully autonomous vehicles, which are now being piloted in U.S. cities.
There are two broad categories of reasons that slow down progress. The first is simply an immature ecosystem and the latter had to do with the fact that IoT deals with much different space and reality than the Internet.
“The Internet was an unbelievably unique opportunity to invent a whole new universe online with remarkably little friction, as (almost) everything is software,” Turck stated. “In sharp contrast, the IoT has its feet firmly planted in our daily reality, and needs to deal with the laws of physics, distance and time.”
IoT Startups Are Booming Globally
While end users believe progress seems slow, the startup ecosystem is booming. At the time the article was released, we were about 3-4 years in an explosion of startup activity in the IoT, particularly on the consumer IoT side.
Mattermark’s list of list of top 100 IoT companies showed 150 companies located outside the U.S. There were also 160 French startups, he said, and China has become the workshop of the entire world.
Startup creation and funding is in full swing – merely adding up all the new IoT startups is a daunting task. They are clearly on the rise, but it is ever important to remember that large corporations are a pillar in the IoT ecosystem. Alphabet/Google and Amazon both are leaders in this space with significant because of the magnitude of their potential impact.
The IoT is here – and we must be ready for this level of change as a society.
Read Matt’s full article here – http://mattturck.com/2016-iot-landscape/
Interested in IoT? Here are some other articles that you may find useful.