McKinsey predicts the IoT market will be worth $581B for ICT-based spend alone by 2020, growing at a Compound Annual Growth Rate (CAGR) between 7 and 15%.
Realizing the Internet of Thing’s (IoT) potential to reduce costs and enable new business models needs to start with a platform perspective that includes app development and integration. IoT is one of the most-researched emerging markets globally, with a specific focus on how Cloud Services and APIs will enable a faster proliferation of applications and the marketplaces that offer them. APIs will enable IoT projects to succeed faster and with greater accuracy by enabling more real-time integration points between systems.