It is still the early days for autonomous trucks, and a report by Gartner estimates that by 2021, less than 1% of long-haul, over-the-road freight will be carried by driverless trucks.
The trucking business already leverages the advantages of using mobile technologies, but the volatile nature of rising labor rates, fuel costs, increased traffic, and a changing regulatory environment, continuously making operations challenging.
Inefficiencies caused by lack of visibility create considerable costs. However, with the help of disruptive technology such as the Internet of Things (IoT), visibility into equipment, assets, personnel, and transactions, enterprises can better support crucial operations in real-time and improve operational efficiency and performance.
By leveraging enterprise IoT asset intelligence, the trucking can tackle problems with solutions powered by IoT.
Problem # 1: The traditional transportation model lacks the operational efficiency of the trucks.
The Solution: IoT in transportation has empowered trucking business owners to improve the operational efficiency of trucks by real-time monitoring and tracking of the fleets. With real-time monitoring capability, decision-makers can make out-of-the-box business decisions. Whenever there is an engine oil leakage, an alert is sent well before time indicating about the threshold it has reached, that’s how the internet of things makes a difference in the trucking business.
Problem # 2: The consumption of fuel was increasing and congestion problems start arising.
The Solution: Usually, the traditional transportation business models consumed energy affluently due to improper route management, so an optimized route management was crucial to building a sustainable trucking business. With the help of real-time field data, efficient fleet route management eliminated almost 175 grams of carbon emission, produced by every extra mile traveled by any vehicle. With the manual monitoring getting expensive and inaccessible, the IoT enabled heat and motion sensors to utilize the energy resources more smartly, which provides huge value to the administrators.
Problem # 3: Tracking of public transport became a serious issue.
The Solution: Managing the traveling from one point to other was possible by the traditional public transport but not the tracking real-time location of the vehicle and knowing when it will arrive at a particular stop. With the help of real-time sensor data, selecting the optimal route based on real-time conditions got easy, resulting in better public transit management. The IoT sensors tell where the traffic is jammed up and reduces the congestion and find an alternate route became easy which consumed the energy and time. IoT sensors tell where the traffic is jammed and convey the alert to the fleet and find an alternate optimized route to save time and energy.
Problem # 4: Increase in operational cost and damage to the infrastructure.
The Solution: From the traditional transportation model, loading the exact amount of load in the trailers was near to impossible. So, a proper check on the vehicles like size, weight, and type of vehicles is done and the load in the trailer is measured in real-time using weight sensors. Through IoT and smart devices, the overloaded vehicles can be identified and can be partially unloaded to evade fines. From the real-time tracking, alerts are sent well before time so that an optimized efficiency can be achieved.
Problem # 5: No advance alerts and availability of parking slots.
The Solution: The integrated smart transportation system tells the real-time information of the driver as well as the vehicle and warns them about the potential engine outbreaks. IoT in transportation can also ensure the smart parking, which tells about the lots that are presently available in real-time. Also, the multi-level parking system helps in reducing the operating and maintenance expenses. IoT sensors help in increasing the safety, comfort, and efficiency in driving and parking.
Over several recent years, the Internet of Things has unlocked a box of new opportunities in the trucking industry and has undoubtedly advanced beyond recognition. IoT is all about digitally connecting devices and analyzing the data to predict future outcomes or possibilities and the transportation industry is at a point where it can leverage the full potential of this disruptive technology.
One year ago, I wrote the first part of this article: "Who need an IoT Analyst?". In this first part, I classified the different types of analysts who are involved in one way or another in the Internet of things (IoT).
In this second part, I will address the special case of analysts specializing in IoT Platforms. For them, I have created 4 categories of IoT Platform Analysts (The Powerful, the Specialists, The Opportunist and the Intruders) and then I ranked them following two high level criteria: Technical Experience criteria and Business Experience criteria. The level of influence is a subjective value based on my own research and perception. Likewise, the position in terms of technical and business criteria is also subjective. As usual in these graphics some will feel comfortable and I will receive critics from others. Nothing new under the Sun.
Let us start for the Powerful category:
The IoT Platforms Powerful Analysts' Firms
We will never remove at 100% the shadow of doubt flying over the reports and recommendations that prestigious and powerful firms like McKinsey, Gartner, IDC or Forrester continue to publish. But it also true that these multinational companies count with great analysts and they have the contacts with the right people in the Big IoT platform vendors, so they can get not only marketing info but strategic info from these vendors that is nearly impossible to get for others.
Not all the Powerful always agree, just read the Forrester reports of Q4/2016 and Q4/2018 and compare with Gartner report 2018 or IDC report 2017 to see the differences and the reasonable doubts for customers that only read these reports.
In Forrester reports from 2016 and 2018 we see some leaders maintaining their positions while other companies are losing moment, or they are not anymore in the picture.
Surprise even more if you see the Gartner graphic below with no leaders and most companies in the Niche players segment.
Finally, in the IDC Marketspace IoT Platforms picture dated in 2017 we see that Microsoft, PTC and IBM repeat as Leaders but new companies are included. No Contenders neither participants are interested for the guys of IDC.
Recommendation – In terms of methodology and scope the reports of these Powerful analyst is not so bad, but they lack the in deep analysis firms required for a customer to take a final decision. These reports are valuable to shortlist candidates in RFIs/RFPs and of course the report is an excellent sales tool for companies that appear in the picture. My recommendation is used it for a first filter.
The IoT Platforms Specialist Analysts' Firms
Some of them started with the M2M market and have evolved to the IoT in a gradual way, without losing its essence like ABI Research, Berg Insight, Beecham Research, Harbor Research. Others like MatchManation or IoT Analytics, however, focused from the beginning in the IoT platform market analysis.
The populated market of IoT platform vendors and the need of these startups for brand recognition with low cost marketing, have made it bloom IoT platform specialist analyst firms offering their services. Their suspense sales strategy can be annoying. Go discovering who is who is not easy and put all the tracks together is expensive. Some examples below. Nevertheless, I want to thanks to some vendors included in the report that allow download partial reports.
Recommendation - The reports of IoT Platform specialists will help us discover some jewels that the Powerful have overlooked or have not wanted to pay to appear in their famous reports. I do not like how these companies use a game-strategy offering partial pictures or partial reports through their most valuated clients or generic pictures with no names. I believe they need to be courageous and present graphics will all companies’ logos. Otherwise they will be continuing in a niche market that soon will be owned for the Big Players.
The Opportunistic Firms
These analyst firms want to take advantage of the IoT platform moment. Companies such as Navigant, IHS market, 451 Research or Constellation Research have published reports on this topic.
Recommendation - I find their IoT reports useful from a vertical or an individual vendor analysis.
The Intruders Firms
There are other firms (The Intruders) that in my opinion are aggregators of content. Companies like Markets and Markets or Data Bridge deliver big reports with excellent pictures, tables and infographics.
Recommendation - Sometimes they provide for free a Table of Contents with dozens of tables, and a list of dozens of IoT platforms info but I am afraid that in 1 page per platform the info sounds irrelevant for take a decision. They facilitate the multi search in Google to identify IoT platform vendors.
Note: I have not included in this article Universities that produce very interesting to read reports including more granular technical criteria than most of the powerful or specialist analyst firms.
Recommending a client an IoT platform is a very delicate matter. The IoT platform will play a key role in the execution of its IoT strategy. Giving good advice on the choice of these platforms requires a lot of time and dedication with the client to understand their objectives, identify their use cases, know their organization and their IT / OT systems.
The reports of the analysts of IoT platforms, both those of the Powerful and those of specialists help to make a first filter and to select 3 or 4 vendors that best adapt to their needs. Thereafter, these finalists need to be analyzed in greater depth. That is why I decided to create our IoT Platforms services, which have been so successful and well received by our customers.
We value positively that this combination of IoT Platform vendors and IoT platform analysts exists. The Powerful ones help them as always and the small ones help them in their efforts to be noticed in a technological world as little democratic as the present one.
Thanks in advance for your Likes and your Shares.
Those who regularly read my articles know that I like movies and TV series. Just remember my article "About IoT Platforms, Super Powers Methodology, Superheroes and Supervillains".
This time my article is dedicated to the two trilogies: Jurassic Park and Jurassic World (the latter still pending the third movie).
Have not passed millions of years since the appearance of the first telemetry species and their evolved cousins of Machine to Machine (M2M.) But the tempo in technology is measured differently. The unit of time here has to do with Gartner Hype Cycle. For Gartner the technologies pass quickly from Innovation Trigger to Productivity. Companies that want to appear in Gartner´s Magic Quadrants have to adopt successfully these technologies or are condemned to disappear.
Large companies that have been in the IT world for more than 15 years seem like dinosaurs and they themselves are afraid of disappearing because of a meteorite (IoT metaphorically).
In this article I present some technology companies that we could consider as dinosaurs and that are undergoing a cloning (transformation) to adapt to the new world of the Internet of Things (IoT), Artificial Intelligence(AI) or Blockchain.
As usual in this type of articles, the included companies and the classification is subjective. Therefore, not all dinosaurs are represented (47 species of cloned animals have been portrayed in the novels and films) nor all companies can feel be represented by the dinosaur that I have chosen for them.
Welcome to my Jurassic World of IoT.
The threats to these cloned dinosaurs are constant. Despite its size and strength many predators lurk to take down these giants (Uptake digital safe package over GE Digital).
Some species go in packs (Google and Ayla Networks or Microsoft and Electric Imp) to survive and others seek alliances with other cousins giants (Rockwell to take $1 billion stake in software maker PTC) the best way to reign in its territory.
There are also dinosaurs in the WestWorld of the Telcos and in the world of Industrial companies that are adapting or cloning, but that is another story.
Your comments and suggestions can vary my Jurassic World table of the IoT.
Internet of Things News, Podcasts, Events and Insights from Rob Tiffany
With literally hundreds of IoT platforms on the market, how do you know which ones to add to your short list? As a rule of thumb, an IoT platform should connect to Things, manage their identity + security, collect data, store, manage, analyze and visualize that data, integrate with enterprise systems and take action on insights.
In this podcast, Rob Tiffany walks you through these minimum requirements to help you make an informed choice.
We are well aware that IoT offers a range of possibilities across various industries including consumer electronics and cars, healthcare, utilities, transportation, manufacturing, and so on. Also, Industrial IoT offers means to obtain insights into the business operations.
IoT offers a greater promise in the healthcare sector than in other sectors. This is because the IoT principles are already being applied to enhance the quality of care, reduce the cost of care, and improve the overall access to care.
The integration of IoT features into medical devices greatly enhances the effectiveness and quality of service, especially bringing greater value to those requiring constant supervision and elderly patients suffering from chronic illnesses. The IoT has the potential to not only keep the patients healthy and safe but also to improve how the doctors provide care as well.
A few estimates have revealed that by 2025 spending on Healthcare IoT solutions will reach around $1 trillion, and hopefully, will make the conditions favourable for highly accessible, on-time, and personalized health services for everyone.
The IoT can also enhance patient satisfaction and engagement by allowing patients to spend more time interacting with their doctors. This article will explore some of the major applications of healthcare IoT and the challenges it poses for healthcare today.
Applications of Healthcare IoT
Starting with managing chronic diseases to preventing a disease, there are a broad range of applications for IoT in the healthcare sector. Now, let’s dig deeper into each of the major applications.
Providing Constant Attention
The patients who are hospitalized and whose health status requires close attention can be monitored constantly using noninvasive, IoT driven monitoring. This kind of solution uses sensors to gather comprehensive physiological data and the cloud and gateways to examine and preserve the data and then send the examined information wirelessly to physicians for further analysis and review.
This eliminates the need for the doctor having to visit at regular intervals to check the vital signs of a patient, instead offering a continuous and automated flow of data. In this way, it enhances the quality of care via constant attention and lowers the cost involved by eliminating the need for a physician to engage actively in data gathering and analysis.
The connectivity of a healthcare system with the IoT places emphasis on the patient needs. This means timely intervention by doctors, enhanced accuracy in case of diagnosis, proactive treatments, and improved treatment outcomes result in a care that is highly accountable and gains trust among the patients.
Remote Patient Monitoring
All over the world, there are many people who face health issues due to lack of access to effective health monitoring. But, with the help of powerful, interrelated IoT solutions, monitoring the patients has become easier than ever.
These solutions can be utilized to capture the health data of a patient in a secure way from different sensors, make use of complex algorithms to examine the data and then share it via wireless connectivity with the physicians who can make proper health recommendations.
With the availability of real-time data from the connected healthcare solutions, the doctors can not only take better care of their patients but also lessen their number of visits to the patient as they can monitor their patients remotely. This decreases the overall health care costs as the costs involved in hospital stays and readmissions are cut down to a greater extent.
Configuring Emergency Alerts
Healthcare IoT allows care teams to gather and connect millions of data points regarding the personal fitness of a patient from wearables like activity, temperature, perspiration, sleep, and heart-rate. As a result, the information obtained from sensors can send out real-time alerts to caregivers and patients so they obtain event-triggered messaging such as triggers and alerts for elevated heart-rate and so on. This will hugely enhance workflow optimization and ensure all the care is handled from home.
Challenges of IoT in Healthcare
The IoT continues to face challenges in spite of the promise of what it can achieve in healthcare. If these challenges are not addressed soon, they could put the IoT at risk of failure.
By intent and design, the IoT devices collect and transmit real-time data. The infrastructure required to receive and process this information should be designed and developed for scale. This means obtaining, processing, and storing data in real-time from millions of IoT devices and applying analytics to gain insights from this data. Unfortunately, most of the providers lack the know-how and infrastructure to access the data.
Also, most of the devices reporting healthcare data suffer from a lack of common security practices or standards. Due to this, many healthcare IT professionals have raised concerns about the risks associated with data breaches and IoT device tampering.
Other major challenges include lack of EHR system integration and lack of adoption of interoperability. Addressing these problems will further revolutionize the health industry as more organizations will start implementing IoT for their healthcare services.
Healthcare IoT is transforming the way the facilities are delivered to patients. In order to derive the true value of healthcare IoT, the interrelated healthcare devices and the processes that are supporting them must work as a joint system that is comprehensive, integrated, and secure. With healthcare IoT facing few challenges, the healthcare providers are hopeful that the IoT will have a positive impact on delivering valuable data and supporting patient care.
The internet of things (IoT) is much more than the next step in consumer technologies — it also represents a significant leap forward for industries of all kinds.
Manufacturing is already — and will continue to be — a field almost uniquely suited to applying IoT technology. In fact, there's almost no part of the process that won't be touched in some way by this ever-expanding web of smart and interconnected sensors, computers and machines. No matter how large or small your operation is, it's increasingly difficult to understate the potential value of adding intelligence and oversight to your processes using the internet of things.
Here are four ways IoT is revolutionizing the field of manufacturing.
A Greater Degree of Competitiveness
According to a report published by Verizon in 2016, an overwhelming majority of manufacturing managers already consider IoT technology a critical competitive advantage. It's hard to believe that such a sea change happened practically overnight, but not quite so much when you realize what's at stake.
Suffice it to say, the IoT represents a bundle of industrial innovations that have been a long time coming. Most of the competitive advantages cited by the Verizon report have to do with parts of the manufacturing and business processes that required guesswork or drew from incomplete data sets. We're talking things like altering business processes based on current demand and future trends, optimizing longstanding workflows and responding to unforeseen events.
Technology powered by the IoT can make manufacturing companies more competitive by, among other things, granting some autonomy and automation to back-end processes that inform the rest of your employee processes and workflows. This type of automation could, for example, automatically flag product for shipment to another location based on current levels or even trip a slowdown on one production line to pivot to another product if future demand isn't expected to be there.
The result is a leaner business that can run circles around your more flat-footed competition, who might've been slow to adopt modern technologies.
A Demystified Supply Chain
Gathering useful insights into the supply chain — that all-important web of manufacturers, shippers and vendors that makes modern production and order fulfillment possible — has been one of the most significant advantages of applying the IoT.
Of course, oversight into vendor and shipper processes is nothing new — but accessing it and making decisions in real-time is a relatively new innovation courtesy of the IoT. These days, every plant location and every party responsible for assembling or moving finished or in-progress merchandise enjoys a higher degree of transparency and collaboration thanks to remote monitoring technology, sensors along material handling paths and assembly lines, and more.
Perhaps most importantly, the availability of granular data at each stage lets each party know exactly what inventory levels look like, all the way up and down the supply chain. This is a significant innovation and a huge stride toward true lean and just-in-time manufacturing, not to mention seamless collaboration. Neither wasteful production methods nor products sitting idle that are needed elsewhere are long for this world, and it's all thanks to the IoT.
Automated Maintenance and Unsafe Operation Alerts
Even the very machines manufacturers use to fabricate and assemble new products are getting smarter thanks to the internet of things. Low-cost sensors are easier than ever for facilities to deploy on their critical machines and equipment, which can make the time and labor associated with ongoing maintenance far easier to manage.
Sensors on manufacturing and product handling equipment provide real-time alerts and analysis concerning the condition of the machine and its many moving parts. These sensors can also take the guesswork and scheduling out of regular equipment maintenance by sending an alert to the appropriate parties at regular intervals — or whenever the machine's onboard self-diagnostic tools detect an impending failure or fault.
The implications for manufacturing are enormous since no two organizations work under the same conditions and with the same equipment. IoT-powered condition-based alerts help facilities maintain the health of their machines, no matter where in the world they're located and no matter what the temperature and humidity are doing. Some devices are more finicky than others when it comes to environmental conditions, making no-hassle maintenance a considerable advantage.
Improved Safety Oversight
Before the industrial internet of things, key performance indicators for employee safety and work environment were commonly spread across several systems, including paper-based ones. This made it difficult for plant managers to get a good, top-down sense of where dangerous processes existed or what types of simple process changes might result in improvements.
The internet of things makes it possible to gather data concerning work accidents and near-misses, property damage, employee injury rates by process and more. It's quite common — and potentially even required — for modern business to track some of these data points as for various compliance purposes. However, it's less common to assemble them in one place and use modern digital technologies to draw actionable conclusions, isolate consistent trouble areas and drill down to causes.
Wearables are another safety-minded application of the IoT. Helmets and wristbands are being eyed as possible future locations for health-related sensors to keep track of workers' physical locations, temperatures, heart rates and more — all in service of rotating employees more regularly, keeping bodily stresses to a minimum and bolstering organizational safety as a whole.
Tomorrow's Technology Today
It's likely that the future will see even more IoT innovations for manufacturing. For right now, these four major improvement areas represent many opportunities for the modern business to revolutionize what they do and how they do it.
Internet of Things Insights from Rob Tiffany
Despite the great promise of IoT to improve business and society, many think it’s being held back due to complexity and the associated lack of required skills to make it a success. Is it possible that the antidote to this complexity and skill shortage problem lies in the existing open standards and technologies that comprise the World Wide Web? In this podcast, Rob Tiffany makes the case for using existing W3C standards to power the Internet of Things.
Internet of Things (IOT) has certainly come of age and has grown beyond the smart home gadgets. The connected reality created and nourished by IOT devices, sensors and gateways ultimately is on the verge of transforming public domains like transport and workplaces. The connected office or smart office is now gaining more attention worldwide thanks to its vast promise ranging from productivity, innovation, security and pushing business growth.
In this respect, some statistics can work as an eye-opener to the future prospect of smart office solutions. A market research report when forecasting the growth predicted that the smart office market which had a global valuation of just USD 22.21 Billion in 2017 is expected to grow up to USD 46.11 Billion by the year 2023. According to the same report, several factors are responsible for the increasing adoption and popularity of smart home solutions that include energy efficiency, advancement in connected gadgets, demand of cutting-edge security solutions and favourable policy decisions at government and corporate levels.
IOT promise for workplace realised by smart office systems
The primary promise of smart office has emerged from the connected building equipped with an ecosystem of sensors and gadgets. The immediate promise of such connected buildings is that they can be utilised better for the manpower and the businesses operating from there.
The connected sensors and gadgets grossly referred to as IoT technology can enhance the efficiency of the legacy processes. With every new process, more value can be created as smart connected technologies will furnish more important data about usage and manpower. From office space management to attendance regulation to real-time activity monitoring to smart security solutions, we have entered a new era of connected solutions.
The offerings of a connected commercial building
Recently, few large-scale commercial building projects have emerged with the full promise of connected smart systems. There have been several significant players in delivering connected solutions for modern commercial buildings. One such building is the LifeCycle Tower ONE of Dornbirn, Austria. This digitally connected building has a fully equipped monitoring system capable of benchmarking and evaluating different important KPIs, ranging from energy consumption and voltage to space utilisation.
BYOD and smart office environment
Today's workplace is unthinkable without the employees using mobile devices during their working time. While there can be some restrictions on the usage of certain apps and services, mobile devices are also part of the business processes in most companies. Only 22% of corporate employees use company-provided smartphones. Naturally, there is no surprise in the fact that “Bring Your Own Device” (BYOD) protocol is a big success.
With the BYOD being the most popular and widely adopted device protocol for employees, it also plays a crucial role in the last mile rendering of smart office solutions. The company-owned and employee-only version of enterprise apps now can silently monitor device usage and can guide the employees to stay in sync with reminders, alerts, emails and feedbacks across the table. Mobile application developers would have unparalleled opportunities with this new breed of enterprise app that works in sync with smart office solutions.
Smart Office solutions: projects in the making
Over the years several different smart office projects are in the making. Several of them have been successfully deployed and is in use while there are quite a few waiting to be tested in workplaces. Here we picked few of these projects to show how smart offices of future are going to be made.
A Raspberry Pi based Smart Office Automation
Smart office automation solution which is run on Raspberry Pi OS requires almost no skills, but it can be highly customised to suit different needs in workplaces. The idea behind such solutions is basically to utilise the office resources to the optimum level. Such a solution can offer features like automating lights, appliances and connected gadgets, triggering automatic turning-off of the lights and gadgets, monitoring the office space through webcam and managing the whole system through an easy to use, notification based interface.
Smart Office Notification Breadboard
A smart office notification breadboard can help employees keeping track of the work in hand while delivering relevant alerts and notifications. This works with just a board where blinking LEDs give alerts and when alerts and notifications come based on scheduled tasks.
Smart Attendance System
Smart RFID based attendance management system can help to enhance efficiency and boost productivity in several workplaces and also in educational institutions. Such systems working with the RFID reader are exceptionally easy to use requiring the employees or students only to carry RFID card tags. Though such attendance system is already in use, connecting a system like this with a rigorous database of attendance and analytics solutions further can provide us valuable, actionable insights to improve attendance and spot some trends.
Smart Office Security System
A smart office security system with its surveillance mechanism and data-centric collaboration with the back-end analytics can deliver real-time actionable insights and suggestions to track security breaches and spot any unusual trends. Such systems are capable of real-time motion detection and sending a smart notification to the responsible security professionals in no time.
Smart office solutions will grow by leaps and bounds in the coming years primarily because of the overwhelming range of innovations that are taking place to make life in every sphere more connected. Frankly, there is no slow-down to innovation in connected gadget space in the near future, and so, every human habitat and endeavour is bound to feel the push of automation and smart connected technologies.
Internet of Things Insights from Rob Tiffany
For more than a century, advances in technology, machinery and automation have oftentimes replaced humans as a means to accomplish tasks. In this podcast, Rob Tiffany tackles the unsavory topic of workforce reduction as certain tasks have evolved from manual to mobile to IoT.
If you are planning to innovate your business and disrupt your niche with the Internet of Things, it may not be as easy as it seems. There are quite a few things that you need to be prepared with, and you should know certain facts about the technology before starting out.
Before anything else, it is important for you to be patient, understand the nuances of the technology and know how best to incorporate it into your business.
It is true that your IoT product will differ from what your competitors are planning to offer and in the technologically driven environment, it is important to differentiate. But, there are underlying patterns that cannot differ, which is why you need to know the basics of IoT before getting started.
So, are you ready to know them?
#1 Start with Design Thinking
When you are surfacing a company with IoT at the core, it is important to think slightly different. All your life as a businessman, you have thought of tactical ways to get your business started, focusing on objectives and goals. However, when you are dealing with IoT, your focus will need to differ. The idea is to think from the user’s perspective and create a framework that will create more practical and usable approaches.
The design strategy should be your first priority. You need to know how and what will work when you are designing for the users. There are a few things you might want to know before planning the design.
What is it that your users need? When we automated home ACs over WiFi, the purpose was to allow remote access, and not keep an eye out for another remote. Once this point is cleared, you may want to think of path defining solutions for the basic idea. The remote needed to go obsolete, which is why the path defining idea was to convert your mobile into a remote. Finally, you will need to build the prototypes and craft a story around it. The idea is to define a product that talks for itself.
#2 Workaround security
When you are working on an IoT-based startup, you might want to think about a security-first solution. You will need to protect the data that can be availed from the connected device so as to offer better security. Remember, the security for IoT based solutions are complex and difficult as compared to a regular security need. If there are more connected devices in the network, the security threat grows and you will find it difficult to control and manage.
So, when you are planning an IoT solution, you will need to think of security before you plan anything else in the device management or define other aspects of the solution.
#3 Managing the costs
Like with any other venture, you will need to think IoT solution development cost. There are costs involved in every stage, and these costs evolve through your development phases.
For instance, let’s start with the development cost of the IoT solution. From planning to actual feature selection to development with connected devices, there are various phases that you need to manage and work around.
Similarly, introducing security into your IoT solution will cost you, which you need to think about before panning it out. Finally, you will need to plan for the operation and maintenance costs of the IoT business, which requires either bootstrapped funds or investment, if you want to survive in the long run. Remember, the IoT business will not get your immediate returns on the investment.
#4 Scaling is different
The scaling of your IoT business works in a different manner from the scaling of other businesses. If a business works at a particular size, it is not necessary it will work for other sizes too. So, before scaling, you will need to figure out will the scaling manage the increased needs and demands of your company. The prototype scaling would differ from the actual business scaling.
IoT businesses are different from the normal businesses, and you will need to understand the nuances before you start building the prototype and acquiring customers. It is more user-oriented and works with a focus on the end goal to be achieved. If you are planning an IoT business, you should ideally consult a professional before starting with the strategies.
Too much time waiting for the IoT year
After years of waiting for my wishes to finally come true that it was finally the year of IoT, I give up. There will be no IoT year. Other technologies are usurping the dubious privilege of leading the technology bubble. Blockchain and Artificial Intelligence are now much cooler.
As has happened on many previous occasions, the IoT will be replaced by other acronyms that will make you forget bad experiences and failed expectations. And with the new acronyms the illusions of those of us who continue to trust in the beneficial implications that the "new IoT" will bring to society will appear again.
Event Organizers were the first to notice the decline of IoT
The first to realize this situation were the organizers of IoT events. If a couple of years ago the weight of the new secondary on stage (Blockchain and AI) did not seem worrying to detract from the main actor (#internetofthings). Now they are the stars and the IoT is marginalized and surrounded by other technologies, badly hurt and melancholy.
Quo Vadis IoT events ?
Will IoT events disappear? Sure. Doesn’t matter if is in 2 or 3 years, but IoT only events will not make sense. In the last 3 months I attended several IoT events in London, Amsterdam, Madrid, Bilbao. I see a slow decline and transformation of #IoT events. Most of them do not satisfy my expectation. I am tired and saturated of see the same tired case studies parroted over and over again.
As my friend Rick Bullotta, I'd like to see some more innovative stories, some failure stories/lessons learned, some HARD FACTS about how long it looks to build, what it cost to build, return on investment.
Of course, we will continue seeing IoT companies, products and services in the Big Events like CES in Las Vega, MWC in Barcelona or Cebit and Hanover Messe in Germany or in industry specific events or company specific events like PTC LiveWorx or Bosch ConnectedWorld . But the same way that we do not see today Internet events we will not see Internet of Things events beyond 2020. It will be a good sign because the Hype will have disappeared and the reality and the market will have been imposed.
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In part two of a three part series, Leonard Lee and Dean Freeman of neXt Curve discuss how IoT enables new business models with Rob Tiffany, CTO of Hitachi Lumada.
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