To the consumers around the world, Amazon is the dominator for e-commerce. Businesses around the world view the giant as a cloud provider. To the investors across the globe, the company is beginning to become a leader in IoT as well.
There has been rapid growth recently for the Internet of Things (IoT). By the end of this year, it is estimated to be worth more than $750 billion, according to the IDC analysts. More and more devices are being connected to the internet to allow businesses the ability to quickly and efficiently gather and track data from things such as farming equipment, jet engines and a variety of manufacturing equipment. Previously manual systems are being able to get automated because of the advancements in IoT.
The Internet of Things is more than just a story for the industrial industry. It has found a home in the consumer world as well. This is in part because of Amazon.com and the company’s success with their digital assistant, Alexa. It has become integrated into numerous devices from televisions to security systems. Amazon is also integrating more IoT into its web services to give them a leading position in the field.
Smart Speakers
The company’s Echo device tech is some of the more popular in the sector. Even though they don’t have a huge profit margin selling the Echoes, they are proving to be good for the bottom line in the long run because they drive consumers into the e-commerce platform. It is perfectly poised to help customers grow with the ever-growing market. The key selling point for the voice-controlled products is the ability to quickly and easily order products from Amazon.com that customers have previously purchased.
Home Integration
Over the past couple of years, Amazon has been working diligently to expand its presence in consumer’s homes beyond just their smart speakers. Their recent addition has included a “Key for Garage” product that allows users to have packages delivered into their homes or left in the garage instead of on the porch where the packages are susceptible to theft.
AWS IoT
Amazon is most known for its dominance in the e-commerce sector. However, most of their profits come from their cloud computing business. They are using the strength of this sector to expand even further in the IoT. According to fool.com, they have recently made deals with Volkswagen and Sprint. Deals with companies like this have allowed their cloud computing business to grow exponentially and be able to pass on those benefits to consumers with new products and services.
Dil Bole Oberoi
