The Internet of Things market has become a reality. The Internet of Things market will definitely grow exponentially in the next few years. By 2020, the overall size of the global IoT market, including hardware, software and services, can grow to more than $1 trillion. The annual size is only $737 billion.
In 2016, global utilities invested $69 billion in the IoT market, of which nearly $58 billion went to the IoT-driven smart grid market to provide better services to the power and gas industries.
The smart home market is the fourth largest Internet of Things segment, and this market is expected to grow tremendously. By 2020, the annual investment in the smart home market will double to approximately $63 billion.
The IoT hardware market is also a major growth area. It is expected that by 2020, the IoT hardware market will nearly double, reaching approximately $400 billion, with major growth coming from communication connectivity modules and sensor modules.
Figure 1: Arrow is co-hosting the 2017 IOT Creative Design Competition with IBM Bluemix and IndieGoGo.
In order to expand the brand influence in this fast-growing market, Arrow, the world's second-largest electronic component agent, recently decided to co-host the 2017 IOT Creative Design Competition with IBM Bluemix and IndieGoGo, which won ADI. Support from Cypress, NXP, ST, OnSemi, TE, AMS, Nordic, Qualcomm, Molex, ISSI and Nexperia.
Figure 2: The 2017 IOT Creative Design Competition officially begins.
IBM Bluemix provides free cloud access to contestants. Other sponsors provide participants with free microprocessors, sensors, connectivity modules, memory, power and peripheral components, connectors, and IndieGoGo is the winner of the championship, runner-up and third place. Provide crowdfunding services. Winners of the championship, runner-up and third place can also participate in Arrow's annual Arrow Centralized Training Asia Pacific event, which will give you more branding and fundraising opportunities.
Figure 3: Yin Junmin, Regional Director of Strategic Vertical Markets, Arrow
Yin Junmin, regional director of strategic vertical market of Arrow, said: "Arrow is only responsible for awards, bonuses and assistance promotion. It will not compete with champions, runners and runners-up for the ownership of the winning products. Arrow only wants to provide better participants. Component and module support services."
The winner of the Arrow IOT Creative Design Competition will receive a $10,000 prize, the runner-up will receive $5,000, and the third runner-up will receive $3,000.
The deadline for the registration and creative submission of the preliminary competition is August 27, 2017, and 50 finalists will be announced on August 30. The final components will be released on September 10, the rematch will be submitted before October 15, and the final will be announced on October 30. The list will be finalized and presented in mid-November.
Registration details can be found on the official website of the contest: http://arrowinnodesign.eet-china.com/
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