NEW YORK (TheStreet) -- Wireless solutions and big data are increasingly being used by utilities and enterprises to integrate new products and manage energy solutions. And at the consumer level, we're seeing a growing willingness among consumers to implement relatively painless programs aimed at lowering their electric bills.
This presents massive opportunities for connectivity players like EnerNOC (ENOC), Skyworks Solutions (SWKS) and Covisint (COVS) to help the smarter grid, the connected home, the connected car and the Internet of Things evolve and ultimately converge.
Think about it. Near real-time data is critical for devices to effectively communicate with each other, and also vital for accurately gauging energy usage. This is true whether you are charging an electric car, storing solar power in batteries, or looking to control energy costs in homes or commercial buildings.
That's why the integration of near real-time data into just about anything through analog and mixed-signal semiconductors like those from Skyworks has ramped up the opportunity to seamlessly connect cars, homes and gadgets. With 70 billion connected devices expected to be in operation globally by 2020, according to the company's website, connectivity stocks certainly look have a lot of room to run.
Skyworks CEO David Aldrich recently told Jim Cramer on CNBC's "Mad Money" that his company is expecting a 39% compounded growth rate for connected cars and a whopping 67% growth rate for the connected home.