IoT- how are the giants taming this beast?
IoT- the next buzzword of the industry! Imagine a world where your mobile can be used to cook food and wash your clothes-the whole gamut of electronic devices connected through an intelligent network, ready at you service, just on the click of a button. This is the glimpse of future, which IoT is projecting into the minds of the people. Now if we look at the present, roughly about fifty petabytes of available data on the internet is because of human activities like typing, scanning or taking photographs. This unlimited data without any structure or accuracy is of no use –this is where IoT can help to not only gather but also use data to efficiently draw a pattern for the benefit of the humans. So why to think about it now? The decreasing cost of technology with sky rocketing penetration of smart devices are creating perfect platform to invest in IoT.
But, how important is this from the business point of view? Until and unless you have the potential to commercialize an idea, it is of no use to a business. How huge is the market for this can easily be hinted at by the fact that the mobile industry continues to scale rapidly, with a total projection of 4.61 billion unique mobile subscribers at the end of 2016. By 2020, another one billion subscribers are predicted to be added, making the global penetration rate to approximately 60%. At the end of 2014, there were 7.1 billion global SIM connections, with an additional 243 million machine-to-machine (M2M) connections.
Let’s start our journey to study the footsteps of IoT across various companies and industries.
Across Companies View
Everybody is talking about “The next big thing” but the fact is that there is no next big thing-the next is now! From smart devices to smart wearable and from remote controlling to mind controlling-the stage is all set for IoT to take its position. Hovering over few tech pioneers, we can have an idea of how the things are progressing in the field of IoT.
Intel is a company where connected objects were always a matter of interest and that may be one of the reasons that IoT, IoE and connected objects was the fastest growing verticals of the company in 2014. In line with its vision to be a leader in the field of IoT, Intel launched a new IoT consortium and its very own platform for various companies to deploy, test and secure connected devices.
Another giant Google is quite silent on this front as of now. But, let’s sneak through the curtains and see the hidden play. Google is performing in many fronts comprising of Google IoT Cloud Platform (Tools for scaling connections, gathering and integrating data), Brillo IoT(OS for IoT) and The Thread Group(determining ways for IoT devices to talk to each other). Its acquisition of Nest and launch of Google Beacons (Open source alternative to Apple) are other steps in the direction of pioneering IoT.
Talking about technology, how can we forget about one of the oldest tech giant in the industry-IBM! With a workforce of just over 1400 employees and $3 billion investment, it has started to build an interconnected and intelligent IoT environment for better operation efficiency. IBM is also engaged in designing a portfolio in IoT with the help of its cognitive computing (Watson) and big data analytics capability.
In this dynamic era of online marketing, let’s not forget the ecommerce leader –Amazon. In 2013, it stepped into IoT by introducing a platform called Kinesis to process real time high volume-data streams from various numbers of sources. After that Amazon launched a range of IoT devices from user bar code readers to Dash Buttons (an intelligent button which can be put across various surfaces in the house and when pressed restocks the consumable items). Its recent acquisition of 2lementary (a startup that developed enterprise-focused platform to manage IP enables devices and other connected machines) and development of its own connected-home assistant hardware clearly defines its future plan in the field of IoT.
Salesforce with its launch of IoT cloud, powered by scalable real-time processing engine called Thunder is creating waves in the industry. Thunder is an integrated set of platform services which offers services for modern user experience, application development, compliance, identity management and many more.
Drawing the lines from all these companies, we can see that how these companies are innovating themselves day by day to be in the race of the next biggest revolution.
In my next blog, let’s glide over different industries to get a consolidated view through the window of IoT, challenges to overcome and next step to take.