Internet of Things Sector Update

We have updated our Internet of Things sector map and it is attached below. We are currently tracking over 704 companies in 16 categories across 38 countries, with a total of $4.94B in funding. To see the full list of companies, contact us using the form on www.venturescanner.com.

Some of the more recent trends we’re seeing in the sector include the following:

The importance of data security-As Internet of Things platforms become more widely adopted by consumer households, addressing the inherent data security risk becomes of utmost importance. While companies such as Dropcam, SmartThings, and iControl Networks effectively record home videos and automate appliance usage, protecting the privacy and the integrity of these data would require new IoT usage policies. In fact, IDC predicts that within the next two years, nine out of ten IoT networks will be confronted with security threats. (Source)

The rise of mobile and wearables-The involvement of mobile technology in Internet of Things platforms is still relatively limited as of now. The main use case is around retail technology in which consumers’ smartphones are detected by retail venues to determine their location and deliver appropriate promotions. As mobile technology becomes more robust and mobile adoption more widespread, we can predict that wearables such as smartwatches, wristbands, and smart glasses would be more widely used for a variety of purposes. More applications facilitating the communication between wearables and smartphones would emerge as well. (Source)

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