The Internet of Things (IoT) continues to grow at a rapid pace, as everything from refrigerators to speakers, are connected online.
eMarketer recently put together a report using data from Tata Consultancy Services to help marketers understand the vitals of the Internet of Things, titled The Internet of Media and Entertainment Things. It’s a detail-filled 14-page report, but here’s a quick sum-up of some of the best facts:
It’s a big business
Many global industry executives believe that IoT initiatives will increase nearly double over the next three years, going up to $72.6 million for 2018. This is across a number of devices, used by both consumers and media/entertainment companies. Unsurprisingly, the most used IoT-enabled technology are mobile devices like smartphones running apps, which lead by a whopping 62.5 percent.
A small but growing industry
Even though the Internet of Things is still developing, it’s expected to show growth over the next few years, particularly when it comes to Telecom and banking/financial services. Although major industries like travel, transportation and hospitality will see a slight drop by 2018, they will still remain relevant
More connected devices are selling
While a majority of consumers prefer to use smartphones and tablets to remain connected, other devices are becoming increasingly popular. These include smart gaming systems, smart TV’s and wearable tech. The more items that are connected, the better communication circles can be.
IoT Is Big With Sports/Live Events
June 2015 research by Mobile Sports Report (MSR) and Sports & Entertainment Alliance in Technology (SEAT) indicates that nearly eight in ten U.S. sports arena/stadium professionals have some form of distributed antenna system (DAS) to increase connectivity at events. In fact, some even go as far as to introduce a game-day style app for deeper interaction with fans.
Data is key
“Real-time data from IoT networks is helping purveyors of media and entertainment more quickly understand what is working and what isn’t,” the report explains. “They are getting closer to a world where specific digital content can be automatically offered to consumers deemed most likely to want it.”
Kurt Jonckheer, COO of Technicolor’s cloud-base analytics platform Virdata, added that the Internet of Things is “an almost organic environment that is constantly ingesting and exhaling information… almost like a data pump. It will circulate data from the field to the cloud for analysis and processing, and then send new data back to the field.”
