Electronics Components and the Internet of Things
But thanks to electronics and equipment manufacturers, the IoT is rapidly becoming the Internet of Everything. But the world is only now standing on the precipice of this looming boom. In the next few years, the explosion of the IoT will result in a corresponding explosion in the electronics design, manufacturing and distribution industry.
Equipment Manufacturing Is Forging the New Dot-Com Generation
To illustrate this point, we need look no further than the phenomenon known as the IoT boom. Experts estimate that, by 2020, more than 50 billion devices will be globally connected in the IoT, making it the largest market in the world.
Medical devices, home automation, personal and commercial vehicles, and enterprise devices of every imaginable type will help make up this significant total.
Small manufacturers with innovative products are regularly snapped up by the growing tech giants. Google purchased Nest, producer of smart thermostats and home sensors, for $3.2 billion. Avnet invested just under $1 billion to purchase Premier Farnel, a British electronics components distributor.
In other examples, tech giants such as Intel are partnering with small OEMs like KCM Controls, a regional manufacturer of building automation products.
How Electronic Components Fuel the Internet of Things
The electronics components necessary to achieve the stunning 2020 benchmark will boost the global economy by $1.7 trillion.
Interconnecting the embedded systems necessary to drive the IoT requires every imaginable type of smart sensor and wireless connectivity. Low-power microcontrollers are also a fundamental aspect of interconnectivity.
Although most IoT devices currently connect using either Wi-Fi or Ethernet technology today, this will expand to include Bluetooth (especially Bluetooth low-energy or BLE) and ZigBee protocols as well.
In fact, many industry insiders predict that the IoT explosion will fuel a second industrial revolution.
Designing and Building Your IoT Electronics Equipment Prototype
As this inevitable movement ramps up, how will you leverage the IoT to grow your business — or launch your own future with an innovative startup?
Consider the so-called “dumb” devices, the analog components we’ve depended on for decades. Nest took the lowly thermostat and made it both cool and immensely more functional. Now the thermostat market is lucrative in ways no one could have imagined even a decade ago.
Today we have smart door locks, bathroom scales, appliances and stereo systems. Medical devices are also onboard, with smart sensors for blood pressure and oxygen and blood glucose levels. The fitness industry has embraced activity trackers, with some shoe manufacturers incorporating fitness trackers into the shoes themselves.
So how will you and your company influence — or be influenced by — the Internet of Everything?
However you plan to leverage this exciting and optimistic future, Kimball Electronics can help. We are one of the nation’s foremost electronics parts distributors. With our safe and easy-to-use e-commerce website, you can browse, select and purchase all types of electronics components. Or you can buy your electronics components from our convenient store locations in Boise, Idaho, and Salt Lake City, Utah. However you shop, Kimball Electronics has what you need.