The IoT: towards a new and productive age of Enlightenment

The Internet of Things (IoT) is growing impressively. IHS forecasts that the IoT market will explode from an installed base of 15.4 billion devices in 2015 to 30.7 billion devices in 2020 and 75.4 billion in 2025. Bain predicts that by 2020 annual revenues could exceed 470 billion dollars for IoT vendors selling the hardware, software and comprehensive solutions. As the IoT takes automation to new heights, what will be the immediate and long-term effects on the job market?

First, the obvious. Tech companies, as well as large globally operating companies, across many industries, are working hard to create IoT strategies. Many among them do not have the know-how or in-house talent to do so, however. They will need to hire new talent. Circuit designers, microcontroller programmers, hardware designers, CAD designers, app developers, network security developers and electrical engineers will undoubtedly be in high demand.

These companies will also need new ways of gathering data based on newly connected data points, along with algorithm development for improved machine learning so that all those newly connected machines can now teach each other and learn from each other. Employees who can offer data analytics skills and vulnerability analysis experience, in order to gather and extrapolate data for application improvement and enhanced security, will not have trouble finding work in the IoT age.