The exponential rise in demand for Internet-enabled devices is strongly pushing forth the segment responsible for the same. The digital transformation brought about by the effective implementation of Internet of Things (IoT) is promising, given the way it harnesses the power of real-time data and insights. This is why one could consider taking a closer look at the segment and keep a few stocks in mind for investments in the future.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Prospects of IoT Market ” data-reactid=”20″>Prospects of IoT Market
The Internet of Things market, which amounted to $170.6 billion in 2017, is expected to reach $561.0 billion by 2022. The segment is anticipated to witness a compound annual growth rate of 26.9% during the forecast period of 2017-2022, according to MarketsandMarkets data.
The impressive growth anticipated in the segment is only justified, given the boom in development and demand for Internet-enabled products.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="IoT’s Growth is Dictated by Easy, Unified Connectivity” data-reactid=”23″>IoT’s Growth is Dictated by Easy, Unified Connectivity
The demand for Internet-enabled products is understandable, given the ease in communication and connectivity they offer to their consumers, things and networks. After all, IoT forms the basis of the development of concepts such as smart cities where every aspect can be studied and controlled via Internet-enabled devices.
Second, IoT’s effectiveness in areas such as healthcare, manufacturing, transportation, utilities, logistics and grid has made it a popular technology that organizations are quickly switching to. Industrial and commercial markets’ fast adoption of the technology because of its ease of usage and efficiency is going to push the segment swiftly forward in the near future.
IoT’s effectiveness in the manufacturing sector, also known as industrial Internet of Things (IIoT), promises higher productivity and better management. The new system is effective in location-tracking, centralized monitoring and predicting faults for easy maintenance, thus fueling competence.
After all, fault-tracking in a gigantic industrial setup and maintenance can be time-consuming, thereby hindering production. But with IIoT systems that offer real-time data, locating faults become much easier, therefore improving performance and raising production.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="4 Stocks to Watch” data-reactid=”28″>4 Stocks to Watch
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="We have, therefore, chosen four stocks that are engaged in activities in the IoT space that you could consider adding to your watchlist. All of these stocks carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.” data-reactid=”29″>We have, therefore, chosen four stocks that are engaged in activities in the IoT space that you could consider adding to your watchlist. All of these stocks carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Microsoft Corporation MSFT is investing as much as $5 billion in researching IoT, and adding new features and services to Azure IoT. According to an analysis by Counterpoint Research, the company has been ranked as the best IoT platform provider ahead of Amazon.com, Inc. AMZN, Huawei, PTC Inc. PTC and International Business Machines Corporation IBM.” data-reactid=”30″>Microsoft Corporation MSFT is investing as much as $5 billion in researching IoT, and adding new features and services to Azure IoT. According to an analysis by Counterpoint Research, the company has been ranked as the best IoT platform provider ahead of Amazon.com, Inc. AMZN, Huawei, PTC Inc. PTC and International Business Machines Corporation IBM.
Microsoft’s expected earnings growth rate for the current year is 20%. The Zacks Consensus Estimate for the company’s current-year earnings has moved 2.3% north in the past 60 days. Microsoft belongs to the Zacks Computer – Software industry.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Cisco Systems, Inc. CSCO is a major provider of enterprise networking hardware. The company is engaged in various activities in the space of Internet-enabled devices or IoT. On the hardware front, Cisco designs networking hardware to handle a massive number of connected devices. On the front of software, the company offers Cisco Kinetic platform and other tools to administer IoT data and products.” data-reactid=”32″>Cisco Systems, Inc. CSCO is a major provider of enterprise networking hardware. The company is engaged in various activities in the space of Internet-enabled devices or IoT. On the hardware front, Cisco designs networking hardware to handle a massive number of connected devices. On the front of software, the company offers Cisco Kinetic platform and other tools to administer IoT data and products.
Cisco Systems’ expected earnings growth rate for the current year is 1.6%. The Zacks Consensus Estimate for the company’s current-year earnings has moved 2.3% north in the past 60 days. Cisco Systems belongs to the Zacks Computer – Networking industry.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Apple Inc. AAPL is a known name in the IoT market, with its many products in the smart home products space. The company is part of a new working group that consists of Amazon, Google and the Zigbee Alliance and focuses on “Project Connected Home over IP.” The group is consistent in exploring the development of a new connectivity standard that increases compatibility among smart home products.” data-reactid=”34″>Apple Inc. AAPL is a known name in the IoT market, with its many products in the smart home products space. The company is part of a new working group that consists of Amazon, Google and the Zigbee Alliance and focuses on “Project Connected Home over IP.” The group is consistent in exploring the development of a new connectivity standard that increases compatibility among smart home products.
Apple’s expected earnings growth rate for the current year is 3.6%. The Zacks Consensus Estimate for the company’s current-year earnings has moved 0.8% north in the past 60 days. Apple belongs to the Zacks Computer – Mini computers industry.
Add Comment