Why do companies like Salesforce open up their organization by providing APIs? The fastest growing platforms need to work differently. They open up their core, publish APIs, and start up developer programs. Understanding the mechanics of becoming an API platform is key. For IoT to be useful, the devices that make up this mesh must be connected to the cloud. The way in which they do this is via APIs. Cloud-based services are the way in which the IoT is connected to data. APIs are the bridge — IoT on one side, useful information and plentiful data crunching capabilities on the other. APIs make IoT useful, turning limited little things into powerful portals of possibilities!
Gartner’s Hype Cycle for the Internet of Things, 2014 , estimates that that IoT will reach the ‘Peak of Inflated Expectations’ in 5 years to 10 years. Before we get there we have to head through the Trough of Disillusionment, which we believe will leave a number of companies going out of business or being absorbed.
Examples of aquisition over the last year:
- Axeda: Bought by PTC for $170M
- ThingWorx: Bought by PTC for $130M
- Neul: Bought by Huawei for $25M
- Xively: Bought by LogMeIn for £5M
- SmartThings: Bought by Samsung for $200M
- Nest: Bought by Google for $3.2Bn
- Revolv: Bought by Google and shutdown
- Dropcam: Bought by Google for $555M
- 2Lemetry: Amazon acquired them. (raised $9 million)