CompTIA: IoT will Drive Business for Existing, New Enterprises

The Internet of Things (IoT) will be big business for both existing IT companies and startups, according to new research from CompTIA. The company’s latest study asserts that while much of the industry remains cautious of the IoT’s status as the “next big thing,” a mix of hardware, software and services in the IoT ecosystem is a surefire way to generate significant business opportunities.

The results are based partially on a recent CompTIA study, “Sizing up the Internet of Things,” which surveyed 297 IT companies in the United States during July. Current specs have the number of internet-connected device exceeding 50 billion by 2020, up from the current total of 14.4 billion devices in 2014.

“Many IoT elements are rooted in traditional IT components, which is good news for IT companies experienced in building and linking complex systems,” said Seth Robinson, senior director, Technology Analysis, CompTIA, in statement. “At the same time, we’re likely to see the emergence of many new firms focused on specific aspects of these systems, such as devices and data analysis. The true value of IoT will come from the combination and connectivity of all pieces.”

When asked which companies were expected to make the most money, 45 percent of respondents said device companies stood to make the most revenue, with 43 percent saying that data analytics and big data companies stood to profit the most. The divisive numbers signal that most companies are still unsure of who will benefit most from the IoT in the next several years.

Respondents answered similarly when asked where the IoT will most likely have an impact or provide value, with 46 percent saying the IoT is likely to create new revenue and business opportunities from connected systems, with 45 percent saying it would likely drive efforts to monitor and control newly connected pieces of equipment. Respondents also felt that the IoT will provide new opportunities for collecting streams of data, adding intelligence to “dumb” objects or systems, and in gathering contextual information about customers.

“The true value of IoT lies not just in the data being generated and captured, but through the services that protect the data, perform the analysis and present findings in a usable way,” Robinson said.

While CompTIA’s research is useful in helping us take the overall temperature of the industry, one thing is certain; the Internet of Things is going to signal change for all of us in the IT field. Whether or not it has the potential to rake in profits, though, is another question entirely.