With the wearables market expected to be worth $20 billion by 2017, and connected home devices expected to reach $13 billion, the Internet of Things opportunity is immense.

But how can companies align their products and business strategies to the Internet of Things and capitalise on significant market opportunities? This will be among the topics discussed at the Silicon Valley Global Tech Summit, taking place in Dublin this week.

Organised by the Irish Technology Leadership Group, the speakers include former Intel chairman Craig Barrett, Kerry Group chief information officer Pat Casey, Accuris Networks chairman Larry Quinn, Altocloud chief executive Barry O'Sullivan, IDA chief executive Martin Shanahan, SOS Ventures managing director Seán O'Sullivan and Rosaleen Blair, founder of Alexander Mann Solutions.

The event, which is expected to attract more than 700 people, will examine big data, cloud, agtech, changing trends in venture capital, the Internet of Things, wearable technologies and opportunities for innovation in education.

ITLG chief executive John Hartnett said the event would enable Irish executives in early-stage companies to meet and collaborate with international investors, expanding their network and creating new business opportunities, especially in the US market.

“The number of tech start- ups and innovative solutions being created in Ireland is incredibly promising, and this is what attracts our Silicon Valley investors to Ireland year on year,” he added.

Start-ups and entrepreneurs will get access to experts in IP and commercialisation of research, and will also have the chance to pitch for investment.

Intel vice-president Margaret Burgraff, Flextronics president of integrated networks Caroline Dowling and vice- president of Intel’s Internet of Things, Philip Moynagh, will be discussing how the Internet of Things will affect business processes, when smart devices are communicating in the cloud and leveraging big data and data analytics to enhance performance, productivity and efficiency.

A panel discussion on agtech will be held tomorrow, with Forbes "Reinventing America" leader, Paul Noglows, driving discussion on how technology is changing agriculture. Speakers on the panel will include Pat Casey, chief information officer of Kerry Group, Caroline Keeling, chief executive of Keelings, Nuritas founder Nora Khaldi, and Royal Rose president Dennis Donohoe.

Mr Donohoe said rising costs of labour and difficulty getting labour was driving an acceleration of mechanisation.

“When you mechanise, you need to be able to trust the equipment. That throws you into using sensors, big data and technology.”