We’ve all heard the statistics. Research from Gartner suggests 20.8 billion connected devices will be in use by 2020, while IHS predicts a more generous 30.7 billion. But while the IoT market is exciting, all the statistics can make it difficult to “keep it real”.
Beyond devices: What does an IoT solution actually look like?
Deploying an IoT project is often dependent on several moving parts beyond a ‘connected device’.
You might start with making an object smart by adding sensors and actuators to monitor, track, or control it, but you’ll then need a form of connectivity to allow applications to capture all that data. Next, you’ll need to put all that data somewhere so you can view it and stay in control of your new smart device—that’s where real-time portals come in. Then, to get the most value out of that data you’ve collected, you’ll need to turn it into actionable analytics that you can use to optimise processes, drive efficiencies, design value added services, or automate decision making.
True end-to-end solutions should support the whole life cycle of IoT, and successful solutions pull from an ecosystem of connectivity, applications, hardware, analytics, and devices. Providing only one part of that ecosystem means you’re only providing one part of the solution, and essentially leaves your customer in a tricky situation. They’ll need to source the remaining components elsewhere, ensure everything is compatible, and then have several points of contact for in-life support.
An equivalent transaction would be selling a SIM to a customer but telling them to go and buy their iPhone elsewhere. In that instance, you’re not providing all of the components of the solution and potentially passing a revenue opportunity to a competitor, who will also try to sell the SIM—so you end up with nothing!
Keeping it real, by making it real
It might seem a daunting task to get those 30.7 billion devices all connected up and generating real value. But you don’t have to do all the heavy lifting.
By accessing an already established IoT ecosystem rooted in relationships with multiple providers, you’re given the opportunity to piece together more of the value chain rather than offering ‘just devices’, or ‘just connectivity’. In doing so, you’ll secure the larger revenue opportunities the IoT has to offer across almost every sector.
Supported by high quality partnerships, your IoT strategy can focus on driving new revenues within your existing client base. What things do they have? Are they of value or could cause a massive convenience when lost or damaged? It’s extremely likely that the thing can be connected to the Internet, have information retrieved from it, displayed to you, and acted upon—a real end-to-end IoT solution!
Our award-winning IoT ecosystem of connectivity, devices, solutions, and actionable analytics, makes it simple to make IoT solutions real. We’ll help you and your clients develop an IoT strategy, find the right solutions, and integrate them seamlessly.