IoT: Hottest technology to watch out for in 2015 The Internet of Things (IoT) is a term to describe a system or a technology solution where the Internet is connected to the physical world by the use of sensors. In India, companies are creating products in the IoT space since the past two years. A recent interaction with Gartner, Intel and Sapient Global Markets highlighted that 2015 will witness the emergence of a plethora of Internet of Things (IoT) based products and solutions, fired by consumer and business needs and catalysed by maturing underlying technologies. Cut to a scenario where you remember while on your way to office that you forgot to switch off your AC. You dont fret and all you do is login to the IoT related website of the device, through a web browser and click on an icon to switch off your AC remotely. The underlying technology for both these scenarios that deal with smart connected devices is IoT. Today, our world consists of billions of such connected smart devices - from miniscule chips to mammoth machines. These devices constantly use wireless technology to talk to each other, making ours a connected world. This is what we call the Internet of Things (IoT). IoT application in wearable technology and smart homes Debjani Ghosh, vice president, Sales and Marketing Group, managing director, South Asia, Intel shared that in 2015 IoT will increasingly find relevance across segments - be it for building industrial devices, wearable technologies, smart homes or automotives. As we move into 2015, we will see the non-screen age of computing, where computational power will reside in the objects around us. For example, GPS watches and connected home appliances. As the era of integration starts, IoT will enrich everyday life, improve government efficiency, transform business and increase productivity, delivering huge value to communities across the globe, added Ghosh. In 2015, increased focus on energy efficiency and improved customer service will drive a whole set of new IoT linked solutions -such as smart metering. says Aditya Gandhi, director, Sapient Global Markets (India). Smart metering involves implementation of IoT technologies which would enable collection of detailed power usage data and then running analytics to identify how money is being spent on energy and providing insights on changes they can do to reduce the bill, added Gandhi. IoT market will grow to $7.1trillion by 2020 Technologies for building such connected devices are maturing and many vendors have already come out with such smart connected products and solutions. Apart from established tech solution providers like Intel, Sapient, IBM and others, Indian startups are also taking a leap into this segment. For example, an Indian startup CarIQ have come with IoT solutions, enabling smarter and connected cars. Another startup called Entrib ShopWorx has IoT offering enabling shop floors of manufacturing companies to become smarter. With technologies linked to IoT maturing, consumers will also start demanding customised solutions - be it an enterprise or a consumer - opening up a huge market for IoT based products and solutions. In fact, a recent finding from IDC predicts that worldwide IoT market will grow to $7.1trillion by 2020, giving it a significant raise from $1.9 trillion in 2013. IoT: A strategic technology for businesses in 2015 Enterprises across the globe are acknowledging that IoT is the next big strategic technology on their priority list. Forrester Consulting recently concluded a research report on behalf of Zebra Technologies which talked about the adoption rate of IoT in enterprises across the globe. One of the key highlights was that over 80 per cent of the surveyed firms believe that IoT solutions will be the most strategic technology initiatives for their organisation in a decade. These firms look to IoT solutions as improved customer experience by enabling things such as supply chain optimisation, visibility, loss prevention and cost efficiencies Source: Economic Times
Posted on: Thu, 08 Jan 2015 17:23:28 +0000
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