According to
the latest Ericsson Mobility Report, there could be over 30 billion connected
devices by 2023, of which around 20 billion will be related to the IoT.
Connected IoT devices include
connected cars, machines, meters, sensors, point-of-sale terminals, consumer
electronics and wearables. According to Gartner, IoT can grow in terms of value
over $1.9 by 2020, which includes the Business to Consumer as well as Business
to Business market segments with verticals including smart cities, smart grids,
smart homes, smart cars and wearable appliances.
What IOT
does…
Sensing or
controlling objects remotely across a network infrastructure is enabled by IoT,
this bridges the gap between the digital world and the physical one, thus
helping in improving efficiency, accuracy and economic benefit in addition to
reduced human intervention. The Internet of Things (IoT) is an integrated network of interconnected
devices, gadgets, automobiles, buildings and other elements which exchange data
with the help of software, sensors, actuators and network connectivity which
enable these objects to share data and create actionable information systems
which enable humans for better decision making.
IoT applications are being used across all business
verticals. The smart transportation management, emergency services use the
predictive maintenance, vehicle health monitoring and outage management system
to manage their fleet and operations. Asset or Inventory Management, quality
assurance and smart testing is being used in Industrial automations,
Manufacturing, Energy and Utilities sectors. Data center and cloud
service providers
here play a major role in ensuring information intelligence safety and security
while empowering complex programs churning out data management and analytics
for comprehensive insights and forecasting. This not only ensures increased
operational efficiency and productivity but also results into increased
customer control with easy availability of real-time co-related information.
Marketplace
The IoT market is dissimilar and is likely
to remain disintegrate in the short run. The CSPs need to adapt business
vertical-based strategy, which delivers complete solutions without diluting
their resources across a wide front. The most important game changer for them
would be the scalability aspect and convergence. The solution needs to be
designed to cover multiple business verticals including both B2B and B2C
services. In order to be a one-stop-solution-hub CSPs will have to join hands
with other ISVs and MSIs to broaden their business capabilities, particularly
around bundling data processing services along with connectivity.
Scalability
of Applications
The primary
techno-commercial challenge that the CSPs face is with building IoT operations
using their existing networks as many of the current legacy applications and
systems are not horizontally scalable. End-to-end solutions will require
seamless IoT device integration with the cloud which is only possible when the
virtual machine is scalable vertically or the commercial unbalance spoils the
game. A scalable security architecture is a must, including real-time traffic
flow auditing with a per-per-consume billing model which ensures cost savings
for a large part.
CSPs need IoT platform and solution partners to
fast-track execution, propel innovation and promote convergence across their
ultimate market scope. In order to bring a name for themselves, CSPs need to
establish their brand and build a strong marketplace network within their
targeted ecosystem. This might include B2B infrastructure owners, independent
software vendors, manufacturers and OEMs amongst others.
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