Internet Of Things (IoT)
Unlocking the potential of connecting everything
We have supported IoT propositions from platform providers, with companies like Teleena, to service providers such as Wireless Logic and Mobius Networks. Our expertise includes developing go-to-market strategies, building fresh brand identities, negotiating airtime deals, and facilitating M&A with some of the biggest players in the world, making our IoT expertise broad and deep.
Everything to is both connected to the internet and can share data with other things makes up The Internet of Things (IoT). Internet-connected devices and machines use built-in sensors to collect and in some cases act on data. IoT devices and appliances help us live and work more efficiently. For example, smart homes automatically adjust heating and lighting. Further, intelligent factories detects problems and automatically adjust operations to avoid failure.
Constant us for support in:
- IoT market intelligence
- Strategy consulting for IoT
- Merger and acquisitions (M&A) to support IoT propositions
- IoT go-to-market and sales enablement
- Implementation of IoT in your operations
- IoT platform development.
The evolution of IoT
In 1982, a modified Coke machine at Carnegie Mellon University became the first internet-connected device. Students could use ethernet or ARPANET to check the drinks stocked and whether they were cold, until now this had never been possible. In 1999, entrepreneur Kevin Ashton, a of founders of the Auto-ID Centre at MIT coined ‘internet of things’, he subsequently began linking RFID tagged objects to the internet.
Now, there are more IoT-connected devices than people in the world. For example, IoT-connected devices and machines range from wearables like smartwatches to RFID inventory tracking chips. They communicate through networks and cloud-based platforms connected to the Internet of Things. This data fuels digital transformation in real-time. Several positive changes result from the Internet of Things, for one thing, improvements in health and safety are possible. Further, operational efficiency increases will take place, not to mention industrial performance, and global environmental and humanitarian concerns.
IoT trends to watch
Enterprise metaverses and digital twins
One of the most practical applications of the metaverse for businesses is connecting the real world with the virtual world. Soon, modelling using IoT data will be available for many facilities. For example, manufacturing facilities and shopping malls. VR headsets allow users to step inside these digital twins to understand their workings and the impact of adjusting individual variables on business outcomes.
We are already seeing this in retail, where store planners monitor footfall in real time and adjust displays and promotions to impact customer behaviour and revenues. Further, experimentation with machinery configurations means that factory designers can identify hazards and predict breakdowns.
Although IoT devices make our lives easier and more convenient, they also leave us vulnerable to cyberattacks. As long as the number of connected devices continues to grow, so will the potential vectors of attack. With this in mind, it is without a doubt the responsibility of businesses, device manufacturers, and security experts to prevent “malicious actors” gaining access to data.
The US has recently put in place standardised security labelling for consumer IoT devices. The UK is following suit with its Product Security and Telecommunications Infrastructure legislation in order to help buyers understand a devices risks. Basic precautions through social engineering diminish attacks like phishing, which tricks users into divulging access details. During 2023, the cost of security measures is will hit $6 billion for companies involved in IoT.
IoT in healthcare
By 2023, the market for IoT-enabled health devices will be worth $267 billion, making healthcare a massive IoT opportunity. Healthcare professionals can monitor patients’ health outside the hospital or doctor’s office with wearables and in-home sensors. This enables 24/7 care while freeing up valuable resources for patients who need immediate and direct supervision. In time, we will be familiar with virtual hospital wards, where doctors and nurses monitor and treat patients remotely through sensors and telemedicine.
Wearable devices help us understand our health and fitness, reducing the strain on existing healthcare systems by supporting earlier interventions and improving understanding of diet and exercise. Over the next year, we expect the release of more products with ECG and SpO2 sensors, such as wearable skin patches. In time, Neuralink will release implants that read neurological signals with life changing results – for example, we have recently seen implants enable people with paralysis regain the ability to walk.
IoT governance and regulation
During 2023, the EU will introduce legislation requiring manufacturers and operators of smart devices to follow stricter rules on data collection, storage location, and breach protection. EU legislation addresses data processing at the point of collection instead of sending it for analysis via the cloud. However, this just one of many global legislative movements. To that end, the Chinese government has prepared a three-year plan to implement policies allowing IoT technology to be widely adopted across the country. China, plus other nations, see IoT management as a key growth enabler, whilst avoiding privacy violations.
Convergence of cellular IoT with satellite, narrow-band, and Wi-Fi
We are already seeing the growth of connectivity convergence in IoT done to improve the reliability of IoT connectivity. As devices can switch between cellular, satellite, narrow-band, and Wi-Fi, the risk of downtime drops massively. To illustrate, this means that critical use cases become more feasible, with higher value add. Think Healthtech and the ability of an IoT device to call emergency services on top of a mountain as easily as it would in your own home. What’s more, the possibility of automated shipping gets closer, and the logistical tracking becomes more accurate than ever.
IoT is leading economic development with:
Improved decision making
Devices can acquire essential data from various sources from multiple sensors, allowing them to act successfully on the data they receive. Smartphones, for example, track your behaviour and suggest solutions based on location, activity, and age. As a result, smartphone companies collect massive amounts of data daily to improve device features including daily screen time, power consumption, and sleep patterns. Embedded processors analyse this data to identify courses of action based on device use.
Monitoring and tracking in real-time
IoT tracking can monitor anything from vehicle fleets to stolen goods to shipping containers. Further, some IoT trackers can even detect environmental changes. Tracking via IoT boosts productivity across industries provided the devices are reliable and of high quality. For this reason, devices should provide the following:
- Real-time data analytics. Quick and informed decision making requires fast, accurate data
Secure companies track and monitor high-value assets by protecting shared data
- Stable devices should provide reliable information on asset locations, machine functionality, and temperatures. This is required at all times from anywhere on the planet.
IoT enhances convenience. Intelligent devices that automate daily tasks allow humans to do other activities. These devices markedly lighten workloads. IoT enables the evolution of automation from programmed action to proactive planning. For example, self-driving cars connected to the internet can find the fasted or most fuel-efficient route. In brief, this is the ultimate convenience for humans. The room for innovation within IoT is massive.
IoT is everywhere
IoT applications include manufacturing, agriculture, health, smart cities, security, and emergency services. In today’s world, intelligent devices surround us. This includes smart homes, smart cars, smart televisions, and smart watches. All of which help us make our lives easier and smoother.
Examples of IoT:
- IoT Sensors
- Data Analytics
- Connected Factory
- Smart Supply Chain Management
- Smart Barcode Readers
- Tracking and Monitoring System
- Smart Grids
- Connected HealthCare System
- Smart Farming
IoT’s big wins
Creating smarter cities
The UN estimates that 66% of the world’s population will live in cities by 2050, up from 34% in the 1960s. Clearly, cities must adapt to meet the needs of this increase of people. IoT is a key technology for this. For example, IoT systems enable fast, efficient transportation.
Barcelona has implemented intelligent water technology, automated street lighting, remote irrigation for parks and fountains, and digital bus routes using a citywide Wi-Fi. What’s more, they have leveraged an information network connected to sensors, software, and data analytics platform. Due to these IoT-enabled urban services, traffic jams and pollution have been significantly reduced, along with water, light, and energy use.
Barcelona also uses the Internet of Things to collect air quality, climate, traffic, and other metrics using the Array of Things. Coupled with users being able to access this information via an open data portal, we see a very powerful public health and city management tool.
Growers worldwide use the Internet of Things to reduce water and fertiliser waste and improve crop quality or yield. IoT can track microclimates as crops move from field to storage warehouse, ensuring quality and waste reduction.
During California’s recent drought, the need to reduce water consumption was higher than ever. We can target watering using drone imagery and soil sensors to see where it is most needed. Use cases like this are why the Nature Conservancy reports that precision agriculture can help farmers reduce water and fertiliser use by up to 40 per cent.
The world produces 1.4 billion tons of food waste every year due to crop loss and waste. IoT can help reduce crop losses and increase productivity. This is not only for the developed world. Using mobile technology and big data platforms like Farmerline and ArgoCenta, rural African farmers can reduce waste, improve operations, and digitise their supply chains. In this case farmers have improved efficiency in the places it’s needed most.
Finally, in traditional mammography only advanced breast cancers are be detected. Cyrcadia Health’s iTBra monitors breast tissue temperatures, helping to diagnose breast cancer sooner. User data is securely sent sent to healthcare providers via mobile phone. After that, doctors use machine learning and predictive analysis for early detection of breast cancer. Owing to high breast cancer rates, Cyrcadia is focusing its testing on the Asia region for the time being.
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