International Business Machines Corp. (IBM), Cisco Systems Inc (CSCO), Microsoft Corporation (MSFT), Google Inc (GOOGL), Amazon.com, Inc. (AMZN), and General Electric Company (GE) All Are Getting Geared Up To Get a Piece of The $117 Billion Pie Of IoT
For technology companies, the new and perhaps most sustainable way to generate more revenue is tapping into what has become known as the Internet of Things. Competition is getting intense on that front, but each company is counting on its unique ability to win a fair share of the connected devices market. From the International Business Machines Corp. (NYSE:IBM) to General Electric Company (NYSE:GE), attention is focused on more than $117 billion in the connected healthcare market alone. But the overall size of the Internet of Things, which others like GE and Cisco Systems Inc (NASDAQ:CSCO) prefer to call the Industrial Internet and Internet of Everything respectively, is much larger than $117 billion in healthcare.
The market of the Internet of Things in the healthcare segment is expected to reach $117 billion by the next five years, according to data supplied by MarketResearch.com. Different companies today have different terms to describe the concept of connected devices, but most companies call it the Internet of Things (IoT), although others, like Cisco Systems, have different names.
Regardless of the name one chooses to call the concept where virtually everything is connected to the Internet, many people are beginning to pay close attention to the Internet of Things and that is nice for continued growth of the market.
Companies like IBM, Microsoft Corporation (NASDAQ:MSFT), Google Inc (NASDAQ:GOOGL) and Amazon.com, Inc. (NASDAQ:AMZN) are also doing all possible to tap into the Internet of Things. That explains the rapid surge of interest on that front, but how intense competition is getting around the connected devices technology.
IBM steps forward with Watson
Participation in the Internet of Things, fondly abbreviated as IoT, is happening at various levels, such as hardware and software, while others are tapping into the services segment. International Business Machines Corp. (NYSE:IBM), for instance, has its famous Watson technology, which provides a way to harness and analyze data generated by connected devices to support informed decision making and better market insight.
General Electric, on its part, has an Internet of Things initiative known as Smart Factory, a way through which the company tries to show off how interconnection can find its way into the industrial sector.
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