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Internet of Things
Blog How IoT will impact electronics purchasing
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  • Author Author: bluescreen
  • Date Created: 10 Jun 2015 5:59 PM Date Created
  • Views 2203 views
  • Likes 1 like
  • Comments 7 comments
  • purchasing
  • internet_of_things
  • iot
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How IoT will impact electronics purchasing

bluescreen
bluescreen
10 Jun 2015

The Internet of Things (IoT) promises to reshape the world by introducing an estimated 50 billion connected devices to the Internet over the next ten years. While freestanding Internet devices have been around for years, Google’s 2014 purchase of Nest for $3.2 billion was a short heard ‘round the tech world. Companies scrambled to convince investors that they, too, had a plan to capitalize on the IoT revolution. But while the financial pressures to own a piece of this rising industry have received considerable coverage, less attention has been paid to the impact IoT will have on traditional electronics purchasing.

 

Here are a couple trends purchasers should watch in the short term as the impact of IoT reverberates throughout the industry.

 

Sensors

 

image

 

The Internet of Things often boils down to sensors. Real-world data is gathered by a wide variety of sensors, aggregated in a meaningful way, then transmitted over wireless networks to benefit users. The Nest thermostat uses a temperature sensor to determine when home temperatures have reached a pre-specified level, as well as proximity sensors to activate the LCD display when people pass before it. Other tech giants are not standing still. Apple is currently seeking a large number of sensor engineers on LinkedIn, and Google acquired MEMS sensor startup Lumedyne Technologies in November. This burgeoning demand for Internet-connected devices is expected to push sensors prices down at a CAGR of negative five percent for the next five years, according to IC Insights. Purchasers should be prepared see demand for sensors increase significantly in the near future, and may possibly even see longer lead times as competition for these prized IoT components increases.

 

Realtime order tracking

 

image

 

This heightened demand for sensors will directly benefit purchasers by accelerating the trend of realtime order tracking. More widespread adoption of technologies like RFID and perhaps even disposable GPS will enable users to query the physical whereabouts of their orders whenever the urge seizes them. What may be limited to a handful of services like Amazon Prime today will soon spread to other e-commerce sites as consumers come to expect the ability to track their orders from the moment they click Buy Now. Purchasers will have an unprecedented ability to know exactly where their orders are, and will migrate to distributors who successfully implement these technologies.

 

The Internet of Things is widely recognized as a legitimate trend that will reshape many aspects of our lives. By studying the specific effects that sensor demand will have on global supply chains, purchasers can stay one step ahead and ensure that they are well positioned to benefit from the IoT.

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Top Comments

  • DAB
    DAB over 10 years ago +2
    Does that also mean that they can track your product as long as you have it?
  • johnbeetem
    johnbeetem over 10 years ago +1
    Is it there yet? Is it there yet? Is it there yet? Is it there yet? This reminds me of when my original Raspberry Pi Model B finally shipped in June 2012 IIRC. That was a very exciting time for RasPi and…
  • clem57
    clem57 over 10 years ago in reply to johnbeetem +1
    Or when I was at a green terminal hitting enter and watching the CPU on IBM 158 got 30% busy looking at the enter keys.
  • Former Member
    Former Member over 9 years ago

    You should also include the affect of IoT in eCommerce...

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  • clem57
    clem57 over 10 years ago in reply to clem57

    Oh I was the only one using it too being the systems programmer.

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  • clem57
    clem57 over 10 years ago in reply to johnbeetem

    Or when I was at a green terminal hitting enter and watching the CPU on IBM 158 got 30% busy looking at the enter keys. image

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  • johnbeetem
    johnbeetem over 10 years ago

    Is it there yet?  Is it there yet? Is it there yet? Is it there yet?

     

    This reminds me of when my original Raspberry Pi Model B finally shipped in June 2012 IIRC.  That was a very exciting time for RasPi and everyone was eagerly awaiting the little boards that they ordered on Feb 29th or a couple days later, depending on when they could get access.

     

    Anyway, it finally shipped!  By UPS ground.  I got to monitor its slow progress from the USA Southeast Coast to the West Coast, taking the same route as 19th Century wagon trains and seeming to go about as fast image  Gee, with GPS tracking I could have experienced this agony with 15 meter accuracy image

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  • clem57
    clem57 over 10 years ago

    When will "tracking" become a good thing? I bet the tracking will apply to unintended things like you after the package is received by the information mongers or big brother.

    Clem "skeptical at this point".

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