Category Archives: IIoT

Reddcoin partners with Local World Forwarders

LWF partners with Reddcoin.

Reddcoin one of the world’s most promising Cryptocurrency companies has partnered with Local World Forwarders (@lwf_ico), the first decentralized platform in the world based on technology.

is now accepted in the and will be integrated into the P2P delivery platform. https://www.lwf.io

In trading earlier today Reddcoin was up nearly 200% in 24hours.

Reddcoin can be obtained through the Cryptopia site for Australian and New Zealand investors. (Sign up here).

LWF Business Model

Reddcoin is the social currency that enriches people’s social lives and makes digital currency easy for the general public.

Reddcoin plans to achieve this by integrating a digital currency platform seamlessly with all major social networks to make the process of sending and receiving money fun and rewarding for everyone

 

Smart Waste collection utilising sensors gaining traction – IoT ANZ

Although the smart waste collection technology industry is still in an early phase, Internet of Things (IoT)-enabled smart bins and sensors are slowly gaining traction in ANZ and globally.

According to a recent report by US research company Navigant, the market is expected to grow from US$57.6 million (A$77 million) in 2016 to more than US$223 million (A$300 million) in 2025, with a 16.3 per cent compound annual growth rate.

“Currently, most municipal waste collection operations focus on emptying containers according to predefined schedules,” explains Christina Jung, a Research Associate with Navigant. “This is inevitably inefficient, with half-full bins being emptied, poor use of city assets and unnecessary fleet fuel consumption.”

Jung says the smart waste collection solutions of the future will be able to track waste levels and provide route optimisation as well as operational analytics – providing new opportunities to optimise waste management: “More and more municipalities and waste service managers are realising that
these solutions can help them meet sustainability goals, improve services for residents and reduce operational costs [at the same time].”

She adds, “There is a growing awareness among city leaders of the potential benefits of multi-application approaches to the deployment of smart city infrastructure. At the heart of this transformation is IoT technology that connects a range of intelligent sensors and devices to monitor and automate city operations. Areas where technology is having the greatest impact include street lighting, public safety, traffic systems and waste collection.”

Jung’s observation comes on the back of TDC, Denmark’s largest telecoms company, and Cisco forming a partnership agreement in June 2016 to deploy a digital IoT city platform in Denmark. As part of the initiative, Dublin company SmartBin deployed its sensors to a range of waste and recycling containers that were integrated with the city’s digital platform. In addition, lamp posts and traffic lights were equipped with sensors that are able to send data to a control console at the town hall and allow real time monitoring of waste production.

A similar project took place locally in Australia 2015, when the Sunshine Coast Council partnered with Cisco and Telstra to develop the so-called Smart City Framework, a portfolio of 13 municipal service areas including waste management. Here, Enevo headed by Greg Howard and its Brisbane-based partner, Smarter Technology Solutions, saw the successful initial deployment of Enevo’s smart fill- level sensors.

“Another example of an integrated smart waste collection solutions are solar-powered waste bins equipped with Wi-Fi units,” Jung says. “While many smart city initiatives propose to provide public Wi-Fi hotspots, it can be expensive to lease areas to host the equipment. However, with Wi-Fi- enabled smart bins, cities can run access points by using the solar energy already collected by the bins.”

Leon Hayes from Solar Bins Australia has been instrumental in rolling out more BigBelly solar powered compacting bins across Australia. Melbourne has an impressive amount of bins with general waste bins sat next to recycling ones.

“Yet, despite the successful [early] deployments, there is still limited demand for smart waste collection solutions due to the lack of awareness about cost [recovery] and the effectiveness of the technology.”

Data Integration

The next phase will see sensor data pulled from dozens of different sensor manufacturers via API* into established telematics systems like that of Telogis which is a global leader in providing actionable data to waste fleet operators across the markets it operates in.

There is a huge amount of cost savings to be made through fleet optimisation and route planning. With more accurate data fleet operators can make decisions to improve efficiencies and still meet performance targets for their end clients.

Low Power Wide Area Networks

The other disruptor and ultimate enabler  will be the rollout of LPWAN connectivity across the region with Sigfox firmly leading the way in the Australian and NZ market.

LPWAN connected sensors like LoRa , Sigfox and NB-IoT allow sensors to operate on batteries for much longer periods and communicate over longer distances than traditional 3G powered devices.

Enevo has yet to transition to a LPWAN version of its sensor but companies like Solar Bins Australia and PiP IoT in Christchurch have developed versions which can then push data into 3rd party systems .

Glossary Term

*APIapplication-programming interface is a set of functions and procedures that allow the creation of applications which access the features or data of an operating system, application, or other service.

Sources and References

Enevo Oy – Finnish based Cleantech business using IoT Devices

Pip IoT – NZ based LPWAN sensor manufacturer of IoT devices

Solar Bins Australia – Australia based distributor of BigBelly and LPWAN Sensors.

Telogis – Market leading telematics provider

Waste Management Review – parts of article originally appeared earlier in 2017.

Internet of Things (IoT) revolution continues across ANZ

The Internet of Things (IoT) revolution is here, and it’s not going anywhere anytime soon. Gartner has predicted that an estimated 25 billion connected things will be in use by 2020. According to BCG, this will mean $267 billion will be spent on IOT technologies, products and services. To put this staggering growth in another perspective, IoT sensors and devices are expected to exceed mobile phones as the largest category of connected devices in 2018.

Harnessing the power of the IoT will be crucial to future success. Sixty-five percent of 1000 global business executives surveyed say they agree that organisations that leverage IoT will have a significant advantage. But 19% still say they have never heard of it. Put yourself in a position to take advantage of the IoT with this primer on the latest trends and applications.

The current state of IoT

The Internet of Things had existed before you had probably even heard of the term. In 2008 there were already more “things” connected to the Internet than there were people. By 2015, IoT market size was up to $900 million, and this is expected to grow to $3.7 billion by 2020.

Virtually every sector has started harnessing the power of the IoT. Adoption rates vary, but significant results are being achieved in manufacturing, distribution, logistics and marketing. Currently, most “smart” devices aren’t in your home or your phone. They are in factories and offices. But smart homes will become an increasingly significant part of the industry over the next few years. It’s estimated that by 2019, 1.9 billion connected home devices totalling around $490 billion in revenue will be shipped to consumers.

Don’t be fooled into thinking the rate of growth is going to slow anytime soon. Only 0.06% of things that could be connected to the internet actually are. That means just 10 billion of the 1.5 trillion things that currently exist are connected—leaving plenty of room for new IoT innovations.

The latest trends in IoT

As adoption of IoT continues to surge, a handful of trends have begun emerging that will shape the industry in 2017 and beyond. Below are six trends you should be watching out for.

  • Businesses will deliver more services: Expect services, not products, to become the main revenue streams of companies in the IoT industry. Products will become a way of introducing consumers to the broader (and more lucrative) service.
  • Cities will get smarter: In the same way that smart technology is improving homes, expect smart systems such as street lights, parking machines and public transport to provide safer, more cost-effective solutions to cities.
  • Voice commands will dominate: We are already seeing the popularity of Amazon’s Echo, and Google and Microsoft are also developing speech-activated virtual assistants. Expect even more focus on audio commands to occur in 2017.
  • Security will improve, but so will attacks: The question of security will become more prominent as attacks on connected devices grow. Security will improve, but so will the number of data breaches.
  • Smart homes will become the standard: The adoption rate of smart home technology hasn’t been substantial, but expect growth to quicken as products such as the Echo increase in popularity.
  • Global corporations will dominate: Corporate giants such as Samsung, Google and Intel will dominate every aspect of the IoT, either by buying up specialised companies or through their own research departments.

The global B2B opportunity of IoT

The IoT will create the biggest opportunities for business to business applications. This is despite coverage of IoT  focusing on consumer products. According to research by McKinsey Global Institute, nearly $4 trillion worth of economic value could be generated by 2025 from B2B activity (factories, offices and agriculture) alone.

B2B opportunities will also be far greater in the developing world than other aspects of IoT. Advanced nations can expect to gain over 60% of the economic impact of IoT on average. This will be even more disproportionate in some settings such as homes, where advanced economies can expect over three-quarters of the economic impact. But because most of the economies of developing countries focus on manufacturing, they will be hotbeds for IoT adoption. As a result, the benefits of IoT will be shared much more equally between advanced and developing economies.

The key benefits of IoT for leaders

As with any other form of revolutionary technology, the IoT offers a wealth of benefits for those leaders who can harness its power.

  • Innovative business models: A wealth of user data will give rise to innovative new business models that have the potential to completely change market shares. It is already happening in the form of app-based transport-as-a-service providers such as Uber. As companies are better able to track how and where consumers are interacting with their products these new revenue streams will become even more proliferate.
  • Optimised operations: Smart devices can learn and improve operations in a way that humans can’t. Integrated sensors will capture data that can be used to improve efficiency and predict when maintenance issues may arise.
  • Improved inventory tracking and management: Smart devices will allow businesses the opportunity to completely automate inventory management; allowing staff time to focus on more demanding tasks.
  • More connected remote workers: If every device in an organisation is connected to the same network, employees will be able to work remotely like never before. Tasks that previously had to be completed in person, such as machine operations, will now be possible from anywhere in the world.

Essential IoT skills

Leveraging the power of IoT requires a highly specialised and in-demand skill set. Hiring the right talent will be key to your success. But you’ll also need to cultivate your enterprise’s culture in order to remain on the cutting edge of this constantly evolving industry.  Here are the essential IoT skills that you need to add to your team.

  • Security engineering: The more connected your business becomes, the more at-risk you are to cyber attacks. Data breaches have become increasingly common, and consumer awareness of data security is growing every day. A talented cyber security team is crucial to protect yours and your customer’s data.
  • Big data analysts: As the wealth of available data grows, data scientists are in increasingly high demand. The rate at which your company can pivot and improve will depend on how well you can analyse big data.
  • Machine learning: The smarter your products and systems are, the more likely you are to succeed. Hire data scientists who can create machine learning algorithms that will help devices make predictions and take action as a result of pattern identification.
  • Circuit design: Computer chip design and development will need to be adapted as smart devices gain new capabilities. Being able to create increasingly complex circuit boards more efficiently gives businesses a much-needed advantage.

Key challenges of IoT

Executives won’t be surprised to hear that this level of technological change is not without hurdles. How you react to and overcome these challenges will determine the success of your business.

Organisational alignment

To succeed on a global scale, organisations will need to completely rethink company structure and job roles. IT will no longer be a department; it will be a role that spans the entire organisation. Intra-departmental collaboration will need to be encouraged as big data connects sales, marketing and logistics more tightly than ever.

Interoperability

In the same way that teams will need to change how they work together, devices will also need to communicate more efficiently to realise the full benefits that IoT offers. Increased interoperability between devices has the potential to add $4 trillion to the economy. But the vast majority of “smart” devices used at the moment only communicate with the manufacturer. It’s estimated that 40-60% of the IoT’s total economic value won’t be realised until interoperability is improved.

Security

Greater connectivity exposes businesses to extremely high risks of cyber attacks. Everyone of a business’ millions of connected devices and sensors is a potential entry point for hackers, and one attack can bring down an entire company. But it’s not just break-ins that executives need to be concerned about. Risk from the black market of fake sensors and video data could be worth more than $5 billion by 2020. Cybersecurity is currently less than 1% of the total security budget for enterprises. This will need to increase significantly in the future.

IoT has the power to transform industries and revolutionise the way businesses use data. The ability to harness IoT’s opportunities will give global leaders an enormous competitive advantage. But leaders need to cultivate the right set of skills within their team, and a data-driven mindset, to transform this opportunity into reality.

Employers and Manufacturers Association Conference – Auckland NZ

I will be spending this Friday at the EMA Digi_X event talking about the Internet of Things to a sold out conference.

As one of the recognised disruptors in the NZ market I hope to be able to bring some information that can help technology in NZ jump from 3rd biggest industry to challenge that of farming and tourism.

Everybody is talking about how there’s an “Uber-for-everything”. And if there isn’t one now, there’s about to be and it could drastically kill your market share.

From robot lawyers to chat bots to immersive 3D shopfronts and workplaces – big change is happening everywhere.  These technology shifts will highlight opportunities for new revenue streams, help reduce costs and future proof your competitive advantage.  Some of these technologies can be inexpensive and easily integrated.We must fundamentally reshape our perspective on what our organisational structures should look like. We need to assess  our talent capability, supply chain structure and also realign our business model to focus on future customer demands.

We are lucky enough to have expert speakers from IBM, Amazon Web Services, Air New Zealand, Thinxtra and Goat Ventures, to name a few, who will discuss exactly that, including:

  • Digitally enabled supply chain – the key to the ultimate customer experience
  • Transitioning from physical business to digital enterprise – the hurdles between you and the finish line
  • Creating rich product experiences – customer immersion in Augmented and Virtual Reality
  • Real-time is the internet of things – not just what, but when
  • Seamless Customer Experiences – Evolving to Omni-channel
  • If it’s obvious, it could be time for artificial intelligence
  • Using access to grow your business – mobility for your teams
  • Designing experiences for your customers not users

With all this talk about disruption and innovation, digital is no longer just about front-facing websites and marketing. It is about every aspect of your business: what you do, how you do it and which tools will actually help you reach your goals.

Home

The Industrial IoT Stack – GE , IBM and Cisco challenged by the newcomers

Snippet from CB Insights – With connected devices like Nest and Sonos breaking into the mainstream, the IoT has become one of the most-discussed tech trends of the last twenty years.

But the IoT extends well beyond the home and consumer-level gadgets. Asset-heavy industries like manufacturing, logistics, mining, oil, utilities and agriculture have also begun to apply IoT systems to improve efficiency and results.

With machines and specialized sensors collecting data at every step of production, the potential gains from the Industrial Internet of Things (IIoT) are enormous.

Just in 2016 alone, startups bringing digitization to industry saw more than $2.2B of investment.

The category breakdown is as follows:

  • Sensors & Connectivity

    • Connectivity — wireless network providers like SigFox and Ingenu act as the telecoms for the IoT age. Most companies here provide LPWAN (low-power wide area network) connectivity, which is popular radio band for IoT devices because existing cellular systems aren’t power- and bandwidth-efficient enough for systems sending small packets of data. Some, like Senet use the LoRaWAN spectrum, and others like SigFox work with ultra-narrowband specifically for low-power devices. 

    • Sensors & Monitoring — some companies in this area are solely sensor or system on chip (SoC) makers like Ineda Systems, but the category also includes more “full stack” (but industry agnostic) sensor and monitoring platforms like SamsaraHelium, and Electric Imp.

    • M2M / Satellite — sometimes Industrial IoT assets operate in rural and less connected parts of the world. Satellites can be a more effective way for sensors to transmit data, and companies like Kepler Communications offer a space-based communication network. With similar advantages in isolated industrial environments, machine-to-machine (M2M) communication is a more decentralized way to pass information between devices, and companies like Filament are applying blockchain architecture to do so with low-power industrial sensors.

  • Edge Devices & Connected Objects

    • Inspection Drones — startups offering drone hardware or image analysis services for industrial inspection. Some startups like Skycatch have individual use cases, such as construction. Recently, drone makers famous for their consumer drones like 3D Robotics have moved into the inspection space. While it’s mostly aerial drones for now, the category encompasses all types including underwater drones and pipe inspecting drones such as those made by RedZone Robotics.

    • 3D Printing — leveraging materials science and robotics, companies like Desktop Metal and Carbon 3D are bringing the customization benefits of 3D printing to an industrial scale. 3D printing tech is starting to go beyond just prototyping tools to being production-scale for making parts, which is why corporate venture arms of GE and BMW are investing here.

    • Industrial AR/VR — headsets and mobile AR specifically tailored for industrial settings and field service. Daqri and Atheer are well-funded headset makers that focus on enterprise and industrial settings. Others like Scope AR do similar work in field service using mobile and tablets, employing AR to highlight parts on industrial equipment while connected to support experts in real-time.
    • Wearables — IoT sensors worn on the body in industrial environments. Strong Arm Technologies makes a safety wearable and some industrial smartglass makers like Ubimax and Upskill also have wearables offerings.
    • Robotics & Exo — industrial automation robots along with exoskeletons that augment human abilities. Companies like Rethink and Righthand Robotics both make the classic arm-shaped industrial robots for manufacturing. Clearpath Robotics does warehouse robotics, as well as a host of ruggedized ground and sea-faring drones. And companies like Kindred and Sarcos are developing worker exoskeletons that can help handle heavy materials or be remotely operated for inspections.
  • Universal Platforms & Edge Intelligence
    • Universal Platforms — cloud vendors here commonly market themselves as general platform-as-a-service (PaaS) companies that allow other IoT and IIoT companies to manage and maintain the capture of data from their device networks. This includes the mostly industry-agnostic platforms like C3 IoT and Altizon that do cloud analytics for industrial companies.

    • Fog & Edge Computing — computing done at the “edge” or closer to the sensor is a trending shift occurring within the IIoT architecture. Companies like Saguna Networks do edge computing (close to the point of collection), whereas a company like Foghorn Systems does fog computing (think a lower-hanging cloud that’s done on-site like a LAN). Both methods allow mission-critical devices to operate safely without latency of transmitting all data to a cloud, which can also save big on bandwidth.

  • Applied Sensor Networks
    • Fleet — sensor networks and solutions for connected trucking fleets. Companies like Veniam are focused on the connectivity aspect, where others like Vnomics sell optimization and vehicle monitoring technology.
    • Oil & Gas —  companies using connected sensor networks in the oil industry include GroundMetrics (locating wells), Tachyus (extracting oil and gas), and Aptomar (spill safety).
    • Agriculture — companies like Blue River Technology and Farmbot are bringing robotics to agriculture. Others like Farmers Edge and Terravion are about capturing and analyzing farm data and tractor telematics for more efficient production.
    • Smart Grid – startups in this area develop tech that enables more efficient distribution of electricity, gas and water, and often market to utility companies. TrilliantTendril, and BluePillar are smart-meter enabled solutions for utilities and large enterprises to manage usage and reporting.
    • Factory — Eigen Innovations and the companies in this category are more vertical-specific platforms for manufacturing analytics. Eigen, for example, uses video and sensor data on factory floors to ensure process and quality control.
    • Warehouse — robotic movers and RFID sensor systems that target the warehouse. Fetch Robotics, for example, does material transport on warehouse floors. Alien Technologies, one of the most well-funded startups in all of IoT, does RFID tagging tech for the supply chain.
  • Advanced Analytics, Edge Intelligence & Protection
    • AI, ML, Predictive Analytics — software that allows companies to find insights and derive predictive analytics such as when machines will need maintenance. Most companies in the category are like Maana and work by applying AI to mining machine data, but others, like Augury Systems, offer a full sensor suite that detects machine anomalies and offers predictive analytics.
    • Cybersecurity — companies in this category develop cybersecurity solutions for IIoT and industrial control systems (ICS) in heavy industry. The IIoT has already suffered serious hacks; a German steel mill suffered “massive damages” after hackers accessed a blast furnace that workers could not properly shut down. Bastille Networks is one company that focuses on protecting the wireless transmission of IoT and RFID devices, and Claroty is a well-funded company working on protecting industrial control systems.

Full article – can be found here

Thinxtra expands Sigfox IoT LPWA into Hong Kong

Thinxtra has invested further  to build the LPWA (Low Power Wide Area) network into Asia and boost the IoT ecosystem across the region.

Thinxtra is expanding into Hong Kong to empower organisations to use IoT to improve business processes and people’s lives. With Hong Kong as its first Asian market outside of Australia ans New Zealand.

Use cases for the Sigfox IoT protocol in Hong Kong will include water meters , waste management applications and sensing devices for temperature , vibration and other environmental conditions.

Murray Hankinson is responsible for Thinxtra’s Asian expansion. He is orchestrating the market entry, deployment, and benefits of the Thinxtra IoT ecosystem to governments, enterprises and smart city initiatives across Asia.

 

 

IIoT – Industrial IoT

NZ and Australia will likely see the biggest gains in IoT in the industrial sector. Networks being rolled out like Thinxtra’s Sigfox LPWAN network will revolutionize the industrial sector.

Positioning-centric information is changing the way people, businesses and governments work throughout the world, combining LPWAN with GPS.

sigfox-disrupts-satellite
Using Sigfox – expensive Satellite terminals can be replaced for Utility providers

In the above diagram assets like utility poles for power infrastructure and water meters can have battery powered sensors with integrated GPS monitoring status and take out the  need for the high costs of satellite connectivity.

A good example in NZ is where the Canterbury plains has complete coverage by the Sigfox network allowing dozens of use cases for agriculture and industry in the region.

Industrial Use Cases…

Asset Tracking – GPS & Sigfox connected drums • Location of expensive equipment (Compressors, Generators)- • geofence alerting • anti-theft• site-location • tracking payload

Connected Helmets – Heart rate • Body temperature • GPS Location via Sigfox

Door monitoring – monitor zone access •no need for cabling •alerts for unauthorized access

Preventative maintenance – alerting • monitoring equipment status • exception reporting

Rail temperature – Ultra-resistant sensors to monitor distortions•optimise inspections

Satellite replacement – due to the range of LPWAN some applications can now be replaced by Sigfox or LoRa devices.

Internet of Things – Virtual Conference December 1st 2016

iotc

IoT Grand Slam Virtual Internet of Things Conference

Selected topics covered about IoT

What are some of the most promising applications of IoT currently, and how will cognitive IoT help realize some of those and create new possibilities for IoT? In this panel, industry experts discuss where IoT is today and how emerging technologies like cognitive computing will create new ways of doing business for all types of companies. (panel session).

sam-george

IoT – from the art of the possible to the very practical. This is an incredibly exciting time. IoT is rapidly transforming the world around us and helping companies increase efficiency, reduce energy waste, gain deeper insights, and create entirely new businesses. Microsoft Azure is all in on IoT and Sam George leads Azure’s IoT efforts. Sam will talk about what is possible in IoT using large and mid-size customer examples as well as the very practical steps companies can take to get started with IoT. (Microsoft Azure – Keynote )

aurelie-guerrieri

2017 will be the pivotal year where at-scale, successful revenue models are going to emerge in IoT. In this session, Aurelie Guerrieri will share case studies of companies and products that are finding a market through IoT, frameworks to develop future businesses, and pitfalls to avoid. You’ll leave inspired and ready to apply these insights to your own business.

Street Lights should be switched to LEDs – QUT

smart-lighting

Over the past 3 years more and more people have made the switch to LED bulbs in their homes – now a Queensland research team led by QUT scientists wants Australia’s street lights to be switched over to LED’s.

A 12-month LED street lighting trial in Brisbane, Ipswich and Townsville has just wrapped up, with great results for the environment and the public purse.

Researchers switched over sections of street lighting to bright LED lights that exceeded the road lighting requirements of the relevant Australian Standards and still found power savings of up to a massive 82 per cent.

The trial was facilitated by the Guided Innovation Alliance (GIA) – a group pushing innovations in the electricity sector and made up of QUT, Ergon Energy, and SmartGrid Partners.

“Public street lighting is the single largest source of greenhouse gas emissions for local government in Australia and is estimated to cost councils more than $250 million a year,” said Dr Gillian Isoardi, a QUT researcher and lecturer in optical physics who is part of QUT’s Institute for Future Environments.

“Compared with High Intensity Discharge (HID) lights, LED street lighting offers significant energy savings of up to 60 per cent, demand reductions and large maintenance savings from long design life (up to 20 years).

“New advancements in LED street light control mean they can also be dimmed when and where appropriate, which can further increase energy savings to 80 percent.”

The study results will be discussed at a free forum for government and industry on Friday, October 21, at QUT’s Institute for Future Environments.

The LED street lighting trial was supported by grant funding from the Australian Government’s Clean Technology Innovation Program (CTIP), and supported by participating organisations including the Brisbane Airport Corporation, Townsville Community Council, Ipswich City Council and Queensland Department of Main Roads.

The October 21 symposium will run from 9am to 10.45am at QUT’s Institute for Future Environments on the Gardens Point campus and will be hosted by the Guided Innovation Alliance. It is booked out but will be livestreamed to the public.

Related Story – Adelaide Smart City – Smart Lighting Trial

Benefits to Council, to City, Community including impact on carbon reduction and alignment to the carbon neutral strategy:

  • The LED lights produce significant energy saving compared to the conventional lighting
  • The LEDs are virtually maintenance-free, requiring only minimal monitoring by maintenance staff, producing additional financial and labour savings;
  • It will manage the brightness of the street lights, and can automatically adjust based on periods of inactivity
  • The energy savings due to the dimming function accumulate over the full operating period to produce additional energy savings
  • Smart LED lighting has the potential to provide the benefits of traditional lighting whilst reducing operating costs, energy usage and carbon emissions that will help ACC achieve the outcomes of its carbon neutral strategy
  • It also has the potential to provide different lighting textures that caters to different events on a needs basis
  • The Real-time monitoring of street lights with automated fault detection alerts and programmable remote controls will enable quick turnaround times in terms of maintenance

Sources – GE(image) , Eureka Alert , Invest Adelaide.

IoT is not a single market but a collection of overlapping ecosystems

The Internet of Things (IoT) is accelerating at an impressive speed, forecasters predict 25 billion devices will be online by 2020, creating over $300 billion in opportunities for companies involved

Even with this considerable growth coming in the next five years, most enterprise leaders still don’t understand or aren’t invested in the IoT revolution. Management consulting firm Bain & Company believe that’s due to misrepresentation on the definition of IoT.

iot-bain

In a new report, Bain & Company cut the IoT pie into five slices, which it calls the “major emerging battlegrounds” that will define the industry:

Major Emerging Battlegrounds

Consumer

Apple, Google, Samsung, and other mobile leaders will extend their reach to customers by launching new products in the autonomous, robotic, and smart home categories. We are already seeing the battleground emerge, Samsung acquired SmartThings, Google acquired Nest Labs, and Apple launched HomeKit.

The company able to create the most dynamic and useful system will be able to lock people further into the ecosystem. While it’s already hard to switch from iOS to Android, it’s going to be even harder when your Apple car doesn’t connect to an Android phone, or vice versa.

Industrial Internet of Things (IIoT)

Called Industry 4.0 by the German Government, IIoT could be even bigger than the consumer market and provide huge opportunities for businesses to lower costs while improving demand and reach. Bain & Company see partnerships as the key player in IIoT. Businesses that are able to cooperate with tech firms might see the most advantages in the years to come.

Networking

Networking giants like Nokia, Cisco, Ericsson, and Huawei are all looking at IoT as a massive opportunity to make more money. Industries will require real-time analytics of their network, and to get that they need super-fast Internet and a well designed network.

It isn’t just industry that wants more networking resources, smart homes will require speeds much faster than what we currently have and more importantly, we will need to see better routers and networking to ensure that Wi-Fi is reaching every corner of the house at a reasonable speed.

Real-time Analytics

Analytics in the IoT world will be more than the traditional providers, like IBM and SAP. Businesses will need dedicated cloud servers, from Amazon Web Services or Salesforce, to keep track of their entire IoT network and understand where they could save money.

Bain & Company says partnerships between analytics and businesses could bring innovation into many areas, citing successful partnerships between Amazon and John Deere’s agriculture and IBM’s collaborative work with Medtronic on diabetes management.

Autonomous driving and robotics

Autonomous cars, robots, drones, and other new technologies that provide humans with a greater level of autonomy will bring many advantages to the consumer and enterprise market. Drones are already being tested by Amazon and Google for deliveries and robots in Japan are taking over jobs as hotel guests. Uber has started testing its autonomous car in Pittsburgh, with the goal of swapping human drivers for computers, which may lower the cost of a taxi quite significantly.