In its Q1 earnings filing, Intel announced continued annual growth for its IoT group, with the business unit earning $721 million in revenue for the quarter. The group, which primarily provides hardware and solutions for companies that are implementing or expanding their IoT programs, saw revenue drop by $5 million from Q4.
The slight decrease in revenue is in line with trends from recent years. Recent history shows a trend of either decelerating growth or outright decline in the IoT group’s revenue in Q1 as companies formulate priorities and hold off on spending their technology budgets. On a year-over-year basis, Intel’s IoT revenue climbed 11% from $651 million. The IoT is proving to be an increasingly important business for the company as a whole, representing 4.8% of its total revenue this quarter, up from 4.4% in Q4.
Intel has also been pursuing a number of other approaches to the IoT outside this dedicated unit. The microchip manufacturer created a separate group to pursue autonomous driving solutions, and is investing heavily in that direction, as highlighted by its $15.3 billion acquisition of Israeli LiDAR designer Mobileye. While that group has not yet released any products, Intel is positioning itself as a leader in the nascent self-driving car space as that market starts to grow in the coming years.
By focusing on the IoT, Intel is striving to make sure it doesn’t repeat past mistakes. The company dominated the hardware behind the PC for years, but missed out on mobile. It’s trying to make sure the thing same doesn’t happen with the IoT and the autonomous car, the next waves in the future of computing.
The Internet of Things (IoT) is growing rapidly as companies around the world connect thousands of devices every day. But behind those devices, there’s a sector worth hundreds of billions of dollars supporting the IoT.
Platforms are the glue that holds the IoT together, allowing users to take full advantage of the disruptive potential of connected devices. These platforms allow the IoT to achieve its transformational potential, letting businesses manage devices, analyze data, and automate the workflow.
Peter Newman, research analyst for BI Intelligence, Business Insider’s premium research service, has compiled a detailed report on the evolving IoT platform ecosystem. This report sizes the market and identifies the primary growth drivers that will power the IoT platform space in the next five years. It also profiles many of the top IoT platforms by discussing key trends in the platform industry such as platform consolidation.
Here are some of the key takeaways:
- The IoT platforms market is set to expand rapidly in the years to come, with current leading platforms expanding and others entering the space.
- We define the key categories into which IoT platforms fall: building block open platforms, closed high-end platforms, and product management platforms.
- We highlight the ways platforms can help companies reach the full five stage potential of the IoT.
In full, the report:
- Explains the coming growth of the IoT platforms.
- Profiles a number of leading platforms.
- Highlights the central role platforms play in the IoT.
- Looks to the future of the IoT platforms market.
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