Published: May 20, 2014
Over the period of time the way we use the Internet has changed, so has the Internet itself. With the so called Internet of Things(IoT) and Telematics, we are going to see a ubiquitous communication and tremendous amount of data flow between physical objects and machine. Muthu Swamy S, CEO of DeebBiz Technologies shares his views on the evolving telematics ecosystem.
With the Internet of Things(IoT) promising vast opportunities along with vast business challenges, Machine-to-Machine (M2M) also referred to as ‘Internet of Things’, is all set to become a real game-changer with the ability to transform every single sector of the society and the economy. It will be out of this environment that new businesses – and indeed new industries – will be born.
IoT offers a range of features such as ubiquitous, affordability, low latency, high speed and high capacity. Linking millions of devices, such as sensors, it will enable us to manage our environment, traffic, infrastructures, and our society as a whole much more efficiently and effectively.
The Internet of Things includes elements of M2M; sensors network; Behavioral Attitudinal Geolocation; smart grids; information processing; Complex Event Planning (CEP); U-CEP, personal bioinformatics; artificial intelligence; E-Science; NBN; Cloud Computing; smart cities; business opportunities; sector transformation, Big Data and so on.
Partnership and Acquisition
As Internet of Things hots up every day, the partnership and acquisitions of industry applications and products are also increasing to strengthen their business values. GE Healthcare acquired CHCA computer System for Opera application. Intel acquired BASIS Science. Intel and Axeda are developing IoT solutions for Industrial, Transportation and energy sectors. Accenture and FirstEnergy are partnering to deploy Smart Meters. CISCO announced its connected safety and security solutions with IoT products to the developers and their customers.
Another big tech giant contributing to the IoT buzz was Samsung who announced its Smart Home service in the U.S. and Korea markets. Users can now connect and control home appliances, TVs and mobile devices simultaneously with a single application with the Smart Home.
Microsoft announced its ambitions with the Internet of Things with the “Windows on Devices”, an initiative to bring Windows to a whole new class of small devices and its plans to make Windows available for free for the Internet of Things and devices smaller than 9 inches.
According to Gartner, Inc, the Internet of Things (IoT), which excludes PCs, tablets and smartphones, is bound to grow to 26 billion units installed in 2020 representing an almost 30-fold increase from 0.9 billion in 2009.
The IoT product and service suppliers will generate incremental revenue exceeding $300 billion, mostly in services, in 2020. It will result in $1.9 trillion in global economic value-add through sales into diverse end markets, says Gartner.
The IoT encompasses hardware (the things), embedded software, communications services and information services associated with the things. Gartner refers to the companies that provide the hardware, software and services as IoT suppliers. The incremental IoT supplier revenue contribution from IoT in 2020 is estimated at $309 billion while the economic value-add is forecast to be $1.9 trillion across sectors in 2020. The verticals that are leading its adoption are manufacturing (15 percent), healthcare (15 percent) and insurance (11 percent).
Smart IoT Platform
According to the CIOReview, the flagship M2M Platform iGateway is a smart hybrid platform for telematics industries that revitalizes the Indian Fleet Management Sector. This ecosystem connects vehicles using GPS with Photo Electric Sensors, RFID, Wi-Fi, GSM, GPRS and Satellite communication. This proven platform has enabled more than fifteen industry segments to automate their logistic operations effectively to their connected vehicles.
With emerging areas promising a rapid growth of connected things, leading to improved safety, security and loss prevention in the insurance and transportation industry. Most industries are likely to benefit from the generic technologies and platforms, with facilities tending to operate more efficiently through the use of smart platform technology.
Source: IEEE Fusion