Internet of things market is booming

The internet of things market will double its value from $1.5 billion in 2014 to $3.1 billion in 2018, according to analyses by market intelligence firm IDC. The company expects fleet monitoring solutions will be the fastest growing segment as its value should reach $379 million in 2018, followed by the smart grid market. Another dynamically growing segment will be the intelligent appliances market with a cumulative annual growth rate at 46 percent in 2014-2018. "Companies operating in this market should, however, keep in mind that the potential that lies in the internet of things is not uniform. Some segments are developing very quickly, others more slowly due to regulatory barriers, the resistance of the current market leaders or simply due to the immaturity of the technology," said Jarosław Smulski, research manager at IDC Poland.