Having smart devices in the home, workplace or the car is no longer a sci-fi fantasy. This year there is expected to be over 14 billion smart devices with that number expected to nearly double by 2021.
But some growing pains are developing along the way. In the Chicago suburbs, a family recently had its Nest cameras and thermostat hacked and saw a loss of privacy.
Are there security and privacy concerns facing the industry in the coming year?
Do you want the technology companies to know when you turn on those lights, light the stove, and what you re-order to stock your refrigerator every week?
For Investors: Is Big the Only Way to Get In?
If you want to invest in the Internet of Things, your options are somewhat limited.
Right now, the industry is dominated by the large technology names.
Amazon’s (AMZN – Free Report) Alexa and Echo and Alphabet’s (GOOGL – Free Report) Google Home may just be speakers to some consumers, but to others they are a connection to other devices in their home. They are the epicenter of the home smart technology.
Alphabet is also creating smart networks through its Nest thermostat system.
Microsoft (MSFT – Free Report) has pledged to spend $5 billion over the next 4 years on the Internet of Things and is already partnering with other, smaller companies in the space.
NVIDIA (NVDA – Free Report) ), is, of course, one of the big chip makers that is driving the technology.
But if investors want to go smaller, then they should consider Cloudera (CLDR – Free Report) , which is on the data and analytics side of the business.