Internet of Things (IoT) Market
The Internet of Things (IoT) market refers to the interconnected network of physical devices, vehicles, buildings, and other objects that are embedded with sensors, software, and network connectivity, allowing them to collect and exchange data. This technology has gained significant popularity in recent years, and the IoT market is rapidly growing as more and more devices become connected to the internet.
The IoT market can be divided into various segments based on applications, platforms, and services. Some of the major IoT applications include smart homes, smart cities, industrial IoT, healthcare, and transportation. IoT platforms are also an important part of the market, as they provide the infrastructure and tools necessary to build and deploy IoT solutions. Additionally, IoT services such as consulting, integration, and maintenance are essential to ensure the smooth functioning of IoT systems.
Collaborations a major component of the North America IoT analytics market
To cater to the unending demand for IoT among business organizations and offer them cutting-edge technology, key players in the IoT analytics market have entered into joint ventures and partnerships with other players. Several connected device manufacturers such as Cisco Systems, telecommunication giant AT&T and tech conglomerates such as IBM Corporation have decided to offer smart solutions for the purpose of advanced data analytics. This is typically by way of IoT platforms. For e.g. – In March 2017, IBM Corp. partnered with AT&T to provide enterprise customers with industrial IoT data insights.
AT&T uses IBM products such as IBM Machine learning, IBM Watson Data Platform, and Watson IoT Platform to manage devices and apps and offer insights from different sources of data. IBM Corp. also collaborated with Cisco Systems in June 2016 to provide instantaneous IoT insights at the network edge. Customers at remote, far-flung locations could be immensely benefited with these combined solutions of IBM Watson and Cisco’s edge analytics that help in the better understanding of network edge critical data.
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