IoT Spurring Growth of Smart Devices
Legacy IT companies have been traditionally slow to identify the growth potential in emerging technologies. As modernization engulfs the whole of IT industry, businesses need to show much lesser resistant to change. There has been a powerful shift towards the business adoption of IoT. The IoT market of US is currently being valued at $9 billion. With the rise of SMBs businesses, it will be interesting to see how big manufacturers of IoT technologies look to accommodate their new customer base.
Techaisle's recent report suggested that adoption of IoT has become more prevalent in SMBs than larger business. With SMBs taking up IoT devices thrice as faster, the mid-maket sector has truly become the melting point for IoT solutions providers.
Cisco Set to Radically Disrupt the IoT Industry
Cisco’s investments in IoT applications has seen a major push after the company’s new acquisition Jasper reportedly made profits in the current financial year. Jasper, a company dominant in the IoT market was taken over by Cisco in the year 2016. The $1.4 billion purchase of Internet of Things (IoT) startup Jasper was a bid to strengthen Cisco’s IoT network across the emerging markets.