It’s too late. We are surrounded. There are literally billions of both small and large physical devices around the world that are connected to the internet. These devices are part of what’s called the Internet of Things (IoT). IoT devices can be small like the motion sensors in your Smart Home, a FitBit, or even your Alexa smart speaker. But IoT devices can also be big, like a driverless truck. And the IoT startup companies that are designing and manufacturing these devices are growing faster than anyone could have imagined. The global market value of IoT is estimated to reach $7.1 trillion by 2020.
IoT Startups & Veterans
From Nest‘s smart home thermostats and Chui‘s facial recognition doorbells to Scanalytics‘ foot traffic analyzing floor mats, here are some of the hottest IoT startups to watch plus three established veterans.
NERD NOTE: Kevin Ashton, a pioneer of RFID technology, first coined the phrase “Internet Of Things” back in 1999. But it wasn’t until smart home technologies and smart home apps gained popularity in the mid-2000s until IoT devices started to take off.