Chipmaker Intel Corporation ( INTC ) has launched the Internet of Things (IoT) platform, its latest push into the IoT ecosystem. Per Intel, the platform is an end to end reference model aimed to help companies create Internet-connected smart products easily using its hardware, software security.
The platform is an effort to develop technological standards for IoT, which involves the connection of everyday devices to each other. It is a computing concept where physical objects of everyday use will be connected to the Internet and will be characterized by autonomous provisioning, organization and monitoring.
As per a recent report from IT research firm Gartner, the IoT market, excluding PCs, tablets and smartphones, will grow to 4.9 billion in 2015, up 30% from 2014, and will reach 25 billion units by 2020.
Intel has been showing increasing interest in the space. The success of IoT depends on the capability of devices to safely and seamlessly interconnect and exchange information, which Intel intends to achieve with this launch.
The IoT platform will provide hardware and software to help customers and partners shift from trial projects to broad technology deployments, which would help boost the efficiency of their businesses. It will also make it simpler to connect to data centers in order to analyze data collected from the devices.
The move follows Intel's announcement in July that it is establishing the Open Interconnect Consortium ("OIC"), an initiative focused on improving interoperability for IoT with the support of other industry leaders including Dell, Samsung, Atmel ( ATML ), Broadcom ( BRCM ) and Wind River.
Along with this, Intel also introduced a range of new software and hardware products intended for use on the platform.
Intel shares currently hold a Zacks Rank #2 (Buy). Another stock worth considering in the space is NVIDIA Corporation ( NVDA ) carrying the same rank as Intel.
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