Connected devices of all kinds, bundled under the umbrella of the Internet of Things, are being positioned in the technology and business media as the next great area of growth in the global economy.
These predictions precede the start of the century under the industry’s previous label of machine-to-machine (M2M) technology. There are many reasons that the past M2M hockey stick growth curves haven’t been realized and some of these reasons are still prevalent in the current age of the IoT. Unfortunately, many of the parties driving the hype around the IoT were not active participants in the M2M era and as such, risk having to re-learn some of the lessons related to the challenges in realizing the forecasted market growth.