The Internet of Things by Intel Infographic

The Internet of Things (IoT) global market is still at its infancy and positioned for exponential growth over the next couple of years as people continue to connect to the internet through billions of devices and applications. As an MSP that provides cloud-based file sharing, IoT needs to be on your radar.

Here’s a look at how MSPs will be able to leverage the cloud as the only platform and service flexible, scalable, and analytic enough to support the IoT as it grows.

Just how big is the IoT ecosystem?

The IoT ecosystem includes any form of technology that can connect to the internet. This means connected cars, wearables, TVs, smartphones, fitness equipment, robots, ATMs, vending machines, and all of the vertical applications, security and professional services, analytics and platforms that come with them.

And this is only the beginning. As this infographic by Intel illustrates, the IoT is predicted to have 4 billion people using 31 billion devices by 2020, nearly doubling the amount of connected technology we see now.

The goal of the IoT is to make these applications, services, and devices as ubiquitous as possible, all while enabling  the gathering of vast quantities of data about user and consumer preferences.

As the IoT expands, so will cloud computing in the following ways.

1.      Startups:

Given the amount of innovation evolving out of the IoT, you can expect to see many more start-ups offering new devices and services, which is great for cloud vendors.

Startups often embrace the cloud because of its “no upfront payment necessary” model. SaaS-enabled enterprise level applications allow smaller businesses to use sophisticated software for project and customer relationship management.

2.      Developing countries:

Much of the cloud growth we see is actually the result of developing countries that have been slow to adopt the cloud. In fact, 90 percent of the revenue generated from the IOT has come from developing countries.

Although this percentage is expected to wane once these counties have finished playing “catch-up”, developing countries are still a great market for cloud growth.

3.      Analytics and advertising.

Data analytics will become even more accurate in predicting consumer preference and behavior.