This years European IoT Tech Expo in London and IoT Nexus in San Francisco brought together some of the biggest companies in manufacturing, transport, health, logistics, government, energy, and automotive to discuss the latest innovations within the Internet of Things. From smart cities to connected living, one thing was clear; the potential of IoT is tangible. Here are the 5 Key Insights Industry experts outlined will spur the Internet of Things.
1. 5G will be a key technology in unifying the connection of all of our cellular devices
Seen as the holy grail of connectivity for the IoT, the 5th generation of mobile networks has been defined to include ubiquitous coverage, signaling efficiency, and the ability to support several hundreds of thousands of simultaneous connections for massive sensor deployments. While technology like Zigbee and WiFi will still be low cost options for certain IoT industries (factory floors, oil rigs, building maintenance), 5G represents a massive shift in cellular networking to provide a unified global standard that not only connects all of our devices but the spectral efficiency to handle untold amounts of sensors and data critical to advancements in the space.
2. The culture and mentality of Private M2M Networks will need to change
Today’s M2M is a whole range of separate data networks collecting information for themselves and for the most part, staying completely siloed from one another. The internet of Things will not only be an advancement in technology but also in mindset as these numerous M2M networks begin to work with one another for the greater good of normalizing and brokering data between themselves for greater efficiency and performance. A great example of this is M2M weather networks working with connected cars as on-the-go sensors relaying not only far more accurate and reliable in field data for weather reports but also providing other drivers with critical information tied to the reports such as black ice on a particular stretch of road.
3. Business Intelligence will be taken to a whole new level with Data Brokering
On the back of the previous point of M2M networks working together, big data will continue to become “bigger” as more devices tap into the IoT spectrum of devices and sensors. With the enormous amount of data being generated and collected daily from HVAC systems in buildings to weather information from cars, companies will need qualified data scientists to create nuanced meaning and establish predictive behavior from the mess of data points. Todays’ market lacks a strong pool of data scientists ready to tackle the new wave of data from the IoT, leading to a bottleneck in deriving this type of information. As the IoT space comes to further define itself, so to will it also come to define the need for more of these experts.
4. IoT Platforms will forgo traditional models to become service providers and data brokers
IoT devices are often seen as the driving force for this market, but as we progress down to the road to a connected world, businesses are now seeing the value in “services”. This change in business model has companies switching from a capex to an opex model, focusing on minimizing the upfront costs of the products. Many traditional equipment manufacturers have already taken steps towards this model, such as Ford’s GoDrive, or John Deere’s tractor leasing. This opens up new revenue opportunities as opposed to the old model of selling a device/product once. Even a company that sells sprinklers could have the technology to monitor the temperature and moisture in the air and monetize that data by brokering it to a weather network in real time.
5. Cloud Abstraction is rapidly becoming a critical component to IoT
While the Internet of Things space stresses the need of standards based technology, companies will still want to support and facilitate proprietary solutions and technology to offer unique experiences for their customers and competitive value. To take part in the larger vision of the Internet of Things while still offering their unique technology and environment, industry experts such as Peter Virk (Head of Connected Cars at Jaguar Land Rover) expressed their strategy of having an abstraction layer enabling a connection to IoT standards of today and tomorrow without having to change the physical hardware or software in the car as new standards or features emerge. Cloud abstraction layers for devices and sensors will be critical for today’s evolving standards.
James MacTavish is the marketing coordinator for AppCarousel, an end-to-end app distribution provider for the Internet of Things and cloud abstraction partner for Jaguar Land Rover. Learn more about our solutions at: www.blog.appdevices.com