IoT Connectivity Markets set to reach $8.9B by 2024

Solution (Real time streaming analytics, security, data management, remote monitoring, network bandwidth management), Platform (device management, application management, network) Application (Building and Home Automation, Smart energy, Smart Manufacturing, Connected Logistics, Smart Retail. Connected Health, Smart Mobility and Transportation ), Google Inc. (US), Hewlett Packard Enterprise (US), Amazon Web Services (US), Bosch Software Innovation GMBH (Germany), General Electronics (US), Intel Corporation (US), SAP SE (Germany), Cisco Systems Inc. (US), Microsoft Corporation (US), Oracle Corporation (US), International Business Machine (IBM) Corporation (US), and PTC Inc. (US) among others, onnectivity Technology (Wi-Fi, Bluetooth Classic, Bluetooth Smart, NFC, ZigBee, Z-Wave, GNSS, LTE Cat-M1, NB-IoT, LoRa, Sigfox), Type (WLAN, WPAN, LPWAN), and Geography, AT&T (US), Cisco (US), Verizon (US), Vodafone (UK), Ericsson (Sweden), Sierra Wireless (Canada), Orange (France), Telefónica (Spain), Huawei (China), Telit (Italy), Hologram (US), Particle (US), Aeris (US), Sigfox (France), EMnify (Germany), and Moeco (US)

Previously Published to tEQ.life

According to recent market research by MarketsandMarkets, IoT Connectivity Markets are set to reach more than $8.9B by the year 2024. Currently valued at an estimated $3.8B in 2019, the company has forecasted an 18.7% compound rate of annual growth (CAGR) with major factors set to increase the demand for connected devices over time.

North American markets will take the reins, accounting for a majority of growth through 2024.

North America is said to account for the largest market size during the forecasted period of growth. This comes, as the United States continues to be the leader in innovation and digital transformation, placing a high priority on large-scale implementation and enterprise services. Artificial Intelligence (AT) and cloud computing are additional factors, attributing such growth, as they are intimately powered by “The Internet of Things.”

The demand for wireless sensor networks, necessary in creating smart infrastructure, has so-far been a major player in the demand for low-power, wide-area (LPWA) networks in IoT applications. People like to control things in their home. Even more so, they like controlling things at home, while not at home, and find convenience in doing so through the fast-action swipe of their smart phones. The rise in IoT adoption and the advancements, taking place across telecommunications industry, will single-handedly drive sales, as more people learn to trust their personal hand-held device for nearly every aspect of their waking lives.

The World slowly catches up, as new technologies are adopted, connectivity is improved and networks are secured.

As we see more stable and reliable high-speed networks appearing in rural areas across the globe and an overall increase in heightened information security, there will be a dramatic shift in IoT adoption, as it emerges alongside the integration of standalone and non-standalone components, therein. In fact, the Wireless Connectivity markets are expected to reach $95.7B by 2023, alone.

The World is quickly adopting 5G, and major cities have already been implementing plans for faster internet speeds through product integration. Enabling these products with a host of IoT capabilities, we can expect IoT-based services to rise as an immediate factor in the concurrent growth of service-related markets, around the globe.

Additional factors that are said to contribute to the growth of IoT Markets, include:

  • Platform & Service Components
  • The Size of Each Organization
  • Trends in Smart Retail Production
  • Trends in Transportation
  • Connected Health & Devices
  • Smart Manufacturing Processes
  • Smart Energy & Utility Practices
  • Business & Home Automation
  • Additional Factors, Based on Region

All industry verticals are undergoing a huge transformation in a bid to provide affordable, accessible, and quality services to their customers.

Addressing the continued shift in IoT Markets and in meeting the demands of the everyday working-class, we see something similar happening to our modern technologies that we have seen happen throughout the history of electronics. Once upon a time, a 4GB desktop computer went for more than $2K at full market value, and now we see 1TB laptops going for less than $300 during regular sales and/or promotions.

The increasing number of connected devices sold, in addition to the growth of smartphone ownership has significantly, contributed to the demand for IoT-based technologies, as used by early adopters and tech enthusiasts alike. Large multinational corporations have learned ways they can capitalize off of such technologies, whether through location-based incentives or by providing customers with in-store messaging, trading off valuable data in exchange for a rewards or in-store promotion.

More information about the growing IoT Market and 2024 predictions can be found here.

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Study Reveals How to Digitally Influence Consumer Behavior and Sales

Previously Published to Talent Zoo’s Digital Pivot

According to a recent study at the University of Miami School of Business Administration, online shoppers are proving to be 80% more likely to choose more expensive products and services when accompanied by a video demonstration. If your brand hasn’t implemented video to your social media mix, you may potentially be missing out on a large market share.

Interestingly enough, 79% more shoppers are most likely to choose products centered on entertainment and pleasure as opposed to functionality. They are even willing to pay a higher price for this. Could this be the correlation between video engagement and a product that entertains?

“It is clear from our study that online retailers, particularly those selling a product that beats the competition less on function and more on attributes about pleasure and enjoyment, can substantially increase their sales and profits by systematically incorporating more dynamic presentation formats like video to convey their product and service offerings,” states Claudia Townsend, Assistant Professor of Marketing at the University of Miami School of Business Administration. She, along with Professor Ram Krishan, collaborated with additional professors from Babson College to conduct these studies in time for holiday sales and marketing initiatives. She continues, “Whatever kind of business you are in, there is no question that investing in richer media for your website is an investment that will pay off.”

The study analyzed consumer behavior, comparing and contrasting several controls in proving the most effective form of sales and marketing for the average buyer. In fact, customers shopping through platforms that included video were more likely to purchase the item in front of them as opposed to those shopping with photos and text. It’s this type of interaction that also proves that people are interested in realism and personal discovery before purchase, no matter what the product is.

People like to tour hotel rooms before reserving one, reflecting upon horror stories of hotels that “seemed great online.” The next best thing to actually being there in person is a video experience catering to their needs. As a matter of fact, consumers were more likely to go with the luxury hotel room over a nice hotel with many free perks based on video presentation alone.

In assessing the data and study results, researchers built upon the “vividness theory.” This means that consumers are enticed by their senses and emotions through an encounter with imagery, colors, and sound. They are able to imagine themselves using the products and services before their eyes and begin to simulate a need, as opposed to a desire, for that product. Impulses initiate sales, based on this theory. Those who are not employing it into their digital business model are missing out on their true potential.

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Marketing for Change: Only 1-in-3 parents read to their children, 8 and under

dr suess, one fish two fish red fish blue fish, dr seuss, childhood education, marketing research, market research, macys, via, childhood development, learn to read, english, orlando, pittsburgh, punxsutawney, fort pierce, pittsburgh, new kensington

PREVIOUSLY PUBLISHED ON EXAMINER

In a world where technology is so evolved that everything is possible, why are our children becoming more corrupted, lacking morals, becoming more spoiled, lacking conscious, etc.? Does it have to do with how we are raising them? Does it have to do with the minimum bonding time we are spending with them and in being the first teachers in their life? A new survey reports that “only one-in-three parents read bedtime stories at night…Children are more likely to spend time with TV or Video Games than books.”

And, here lies the problem.

Lack of bonding and discipline can lead to an increase in independence, but this increase can be harmful to a child if no direction is given. How are we showing our children we love them? How are we influencing their decisions?

We get mad that they emulate what is seen on television, but we are not filling idle minds with wholesome data or swaying their mindsets in the way that we should. If we aren’t that positive role model in their life, we can’t be upset when “the entertainment” keeps them fulfilled and becomes their new “favorite person.” We can’t be upset when our child comes home with dissatisfactory results on their report cards.

When we read, children look at pictures (if snuggled next to you). Chances are, they will follow the words along with you… whether they know what the words spell out or not.

When they see words in repetition, they eventually learn the word “on sight,” and this readies them to learn more complex words. This is a science that programs like “My Baby Can Read” have proven to us time and time again. This is also something that can’t be done one-on-one in the classroom, especially where large classes exist.

As a matter of fact, the age group of “8-years-old and under” are at the highest risk. “Children who don’t read well by the end of third grade are four times more likely to drop out of high school than proficient readers,” according to a report by the Annie E. Casey Foundation.

This is a science that programs like “My Baby Can Read” have proven to us time and time again. This is something that can’t be done one-on-one in the classroom, especially where large classes exist. As a matter of fact, the age group of “8-years-old and under” are at the highest risk. “Children who don’t read well by the end of third grade are four times more likely to drop out of high school than proficient readers,” according to a report by the Annie E. Casey Foundation.

Have we become too dependent on the programming our television networks have created to “educate” kids? Let us not forget that subliminal messaging is also often times placed in program messaging.

Innocent realities may also place “thoughts” into the mind of children. For example, an educational program called “IQ Kids” when heard without visuals, or when watched at “half span” attention sounds like it is clearly saying “I kill kids.” If your child can’t read, what message do they perceive? Do you think they will want to learn from these people, no matter how many awards they have won?

In the Online survey conducted by Macy’s, Reading is Fundamental and Harris Interactive, 33% of 1000 parents report nightly reading to their children. Through ten years of partnership, Macy’s and RIF find it even more important to deliver their 10 millionth book to children across the country. “Bedtime stories build the foundation for future achievement.

For a decade, Macy’s and RIF have worked together to get books and literacy resources to children in need, giving children and parents tools they need to dream big,” said Carol H. Rasco, president and CEO of Reading Is Fundamental. “While much news in this survey is encouraging, there is more work to be done – work that Be Book Smart and our partnership with Macy’s will help make possible.”

We must remember that this age group is that of our future society, our future decision-makers. If we aren’t teaching them correctly, who will? The television that has the sole purpose of selling advertising and merchandising?

Macy’s understands this and, since 2004, have donated over $25.8 million to RIF through customer-supported fundraising campaigns, in-store events and volunteer activities. They continue this mission with a campaign that runs Today (June 21) throughout until July 21, 2013, in the goal of donating the 10 millionth book to a child in need.

The campaign takes place Online and in stores across the country. The correlating Online campaign includes a Facebook Sweepstakes, and have included this statement in a recent Press Release:

“As part of the Be Book Smart campaign, Macy’s and RIF will host a sweepstakes on Facebook to encourage supporters to share information about the campaign and post images of quotes from favorite authors to their personal timelines via a Facebook app. Each week, one winner will be awarded a $500 Macy’s gift card. For official rules and to enter the sweepstakes, visit facebook.com/macys or rif.org/sweeps. No purchase necessary to enter or win a prize.”

What are you doing to ensure a bright and positive future for our children? Start reading to them, today!

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