A new report from Technology Business Research (TBR) finds that revenues at 21 Internet of Things (IoT) firms climbed 14.8 percent to $6.7 billion in the last quarter of 2015. The tracked firms include Verizon, Microsoft, Intel, Google, Amazon, Siemens, Cisco, Ericsson and Oracle.
Dan Callahan, a TBR analyst specializing in devices and IoT, said, “Effectively, every type of IT and operational technology (OT) vendor will have a stake in the growing commercial IoT market, as IoT solutions will drive increased use of diverse IT and OT products and services.”
The report also noted that growing interest in IoT is leading to growth in related areas like cloud computing, which grew 70 percent to reach $604 million for the quarter, and IT services and ICT infrastructure, which increased 51$ percent for the quarter.
