Glossary

IoT Ecosystem

An IoT ecosystem is a type of developer ecosystem that focuses on Internet of Things developers, applications, devices, and customers. In an IoT ecosystem, developers create applications for software solution and / or hardware providers to accelerate innovation and scale distribution, while at the same time generating revenue (for both developers and the solution providers) and delivering enhanced solutions to customers.

An example of an IoT ecosystem is Jaguar Land Rover’s (JLR) InControl in-car information and entertainment system. Developers create applications which are distributed to customers through JLR’s InControl system.

IDC predicts that the market size of IoT ecosystems will hit $1.4 trillion in 2021.