The IoT market will create the same sort of market disruption that preceded it with the World Wide Web. Almost every industry will be transformed by IoT in both developed and emerging markets. The impact of IoT will not be confined to individual market segments. It will reshape entire industries in the eco-system. Accenture has forecasted that the global market potential for IoT will reach $14.2 Trillion by 2030. The exact size of the market potential 15 years from today is difficult to predict but directionally it has merit. The development of the IoT market will rely on technology advances in the semiconductor component industry and the software industry. McKinsey estimates that 30 Billion devices will be connected by 2020. Microelectro-mechanical-systems (MEMS) technology will play a significant role in enabling Internet of Things application. MEMS helps to overcome the challenges of integration, power, and cost. The economic value of connecting sensors and devices brings tremendous value because data can now be processed in real time. Information can now be disseminated across a much wider industry eco-system to manage product life cycles, perform scheduled maintenance, and manage the supply chain. Other obvious benefits include applying predictive analysis to allow managers to […]