IoT - Macro Convergence and Emergence of Markets

In a prior article, we talked about IoT being the connection of the physical and the digital worlds. That is, connecting those things that were physical in nature hitherto and now find a need to be connected to the digital world. This phenomenon about things/objects/entities is also influencing the enterprises in how they are transforming and shaping themselves to survive and thrive in the fast evolving world. The enterprises across consumer, commercial, public, and industrial sectors that were born in the pre-Internet era (Honeywell, ABB, GE, Philips, Siemens, and so on) are making moves to position themselves as digitally transformed companies. More subtle are the moves being made by the Internet era companies (Google, Amazon, etc.) to integrate themselves with the physical world.